Spring time boom for Barita as profits grow by 90 per cent

While other finance houses have reported dismal results, Barita Investments can announce good fortune and an uptick in performance without pointing to unrealised losses.

 Unaudited results for the quarter ended March 31, 2026, reveal Barita posting operating revenue of $3.7 billion, a 72 per cent jump on the same period last year.  This was driven by a  154 per cent increase in gains on investment activities and growth in net interest income.

Net Profit for the quarter came in at $1.2 billion and increase of $543 million. This was attributed to the Group’s stronger operating revenues.  Net Interest income increased by 236 per cent to a whopping $714 million for the quarter, due in the main to interest-earning assets kicking in and rates being more favourable relative to last year.

The aim is to always keep operating expenses down, and many companies grapple with this not impairing the balance sheet. In these turbulent times, with Jamaica recovering from Hurricane Melissa and geopolitical tensions roiling the world, this has been challenging. 

Barita saw a big rise in operating expenses, which moved to $2.2 billion, whereas it was $1.2 billion for the same period last year. For the quarter under review, staff costs shot up to $434.3 million, while administration costs more than doubled to $1.75 billion, whereas it was just $791 million for the corresponding quarter last year. 

A look at the six-month period, the half-year point and the picture is equally bright and encouraging. 

Barita posted net operating revenues of $5 billion for the six months to March 2026, $1.3 billion more than for the six-month period of 2025. This was due to a 50 per cent increase in gains on investment activities.

Net profit here was $1.4 billion, an increase of 17 per cent on the same half-year period in the prior year. Net Interest Income rocketed by 145 per cent to $937 million.

Gains on investment activities climbed to $2 billion, driven by fair value appreciation across the equity portfolio, with the Real Estate Fund now joining the party.

For the six months ended March 31, 2026, Barita recorded total shareholders’ equity of $36. 4 billion with an efficiency ratio of 64. 4 per cent.

Of note, loans declined by 47 per cent to $4 billion.

Earnings Per Share (EPS) jumped to $0.98 for the period under review, almost doubling last year’s $0.52, thus giving shareholders something to be happy about. 

Barita is trading on the Jamaica Stock Exchange at around $ 68.02. 

Reviewing Barita’s performance, Group Chairman Mark Myers said: “ Barita delivered a materially stronger second-quarter performance in FY 2026 with clear improvement across the Group’s core earnings drivers. With increased platform scale, Barita is better positioned to pursue cross-selling opportunities and realise synergies across investment management, wealth management and pension services.

“We are strengthening profitability through business-line optimisation, revenue mix refinement, sharper asset management performance and tighter cost discipline. 

“Performance from our alternative investments portfolio continues to be anchored by the real estate platform, which we view as a long-term strategic growth pillar of the Group. To date reported returns have been driven primarily by fair value appreciation, with private equity and private credit strategies also contributing to realised gains in prior periods. Most importantly, the platform is now progressing through a deliberate strategic transition from valuation-led returns toward development execution and ultimately a more recurring and cash-generative earnings profile over time.”

Work continues apace at Barita’s Harbour Street and Eden Gardens properties in Kingston. It recently appointed Bernhard Stocker as CEO of its real estate portfolio.

Barita holds 100 acres in St. Ann, significant real estate assets in that parish.It has plans to develop high-end residences there.