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    • The Jamaica Urban Transit Company (JUTC) is projecting to generate revenue of $5.2 billion for 2015/16.
    • This is an increase over the earnings of $4.7 billion in 2014/15 and $2.8 billion in the 2011/12 fiscal year.
    • The JUTC is also expected to benefit from weekly fuel savings totalling approximately $25 million, consequent on lower prices.

    The Jamaica Urban Transit Company (JUTC) is projecting to generate revenue of $5.2 billion for 2015/16.

    This is an increase over the earnings of $4.7 billion in 2014/15 and  $2.8 billion in the 2011/12 fiscal year.

    JUTC Managing Director, Colin Campbell, said revenue was at $2.98 billion for the first seven months of the fiscal year, and “we are optimistic that we are going to hit that target (of $5.2 billion).”

    The Managing Director was addressing  a media briefing at the JUTC’s corporate offices, Twickenham Park, Spanish Town, St. Catherine, on Friday, November 20.

    Mr. Campbell attributed the revenue uptick to several factors. These include an increase in the fleet of buses serving the commuting public from just over 240 in 2012/13 to the current complement of 452.

    “That has (resulted from) a combination of additional new units, as well as the fact that we have restored…over 30 units (that were) parked (because) of lack of spare parts…to give us a better operating fleet (with) more reliability…to be able to serve commuter needs in a better way,” he explained.

    Other contributing factors, Mr. Campbell informed, include: a 50 per cent increase in commuters; boost in the staff complement from 1,600 to 2,190, of which 1,102 are drivers; and a lower than projected deficit for the first half of the fiscal year, with the outturn being $67 million, compared to the projected $117 million.

    The JUTC is also expected to benefit from weekly fuel savings totalling approximately $25 million, consequent on lower prices.

    “In August last year, the JUTC was buying a litre of Low Sulphur Diesel (LSD) for $107.13. The fuel contract, which we sign on a Thursday, for delivery the following week…(as at) yesterday’s price, was $69.75,” the Managing Director indicated.

    Mr. Campbell said these factors, coupled with government inflows to the company, and other key inputs are expected to safeguard the JUTC’s operations and profitability, by slowing the deficit and positioning the entity to “go back on track before the end of the (current) fiscal year.”

    He said there have been significant improvements in key areas of the JUTC operations over the past five years.

    The briefing was also addressed by JUTC Chairman, Rev. Dr. Garnett Roper.