SOS delivers record quarterly revenues of $539.4 million

Eyes regional expansion with $552 million cash position

Durrant Pate/Contributor

Stationery & Office Supplies (SOS) has announced its biggest quarterly revenues of revenues of $539.4 million for the first quarter ended March 31, 2026, surpassing the prior record set in Q1 2025. 

The strong performance across all major categories gives SOS the financial confidence and operational muscle to push deeper into the Caribbean, as its regional expansion ambitions take shape. The company now holds $552 million in cash to fund its regional expansion. 

Managing Director, Allan McDaniel, is excited about the record quarterly performance, saying, “This quarter, we experienced 0.4% revenue growth, which might look modest on paper, but when you understand that we were comparing against our previous record quarter of $537 million, that 0.4% tells a different story. And we did it while rebuilding from Hurricane Melissa, launching the new SEEK factory, and growing our cash position by 17%. I’m proud of what this team has accomplished, and frankly, we’re just getting started.”

McDaniel emphasised, “With SEEK operating at greater capacity, export channels open across the region, and the balance sheet to back our ambitions, we are in a very good position to grow beyond Jamaica. The Caribbean opportunity is real, and we fully intend to pursue it.”

Significant developments

Among the quarter’s most significant developments was the official opening of the new SEEK factory on March 27 at 26 Collins Green, Kingston. The $185 million investment consolidates the company’s manufacturing, warehousing, and administrative operations under one roof, boosting notebook production capacity by approximately 300% and strengthening the supply chain for exercise books and educational materials used by students across Jamaica.

Meanwhile, the Montego Bay location, damaged by Hurricane Mellisa in late 2025, was fully rebuilt and operational as of January 2026, restoring the company’s full geographic footprint and western Jamaica revenue contributions.

Combined with strong performance across all major product categories and four containers exported to Trinidad, St. Lucia, and Barbados, the operational momentum translated directly to the bottom line. Gross profit margin expanded from 51.2% to 56%. 

Pre-tax profit climbed 6% to $88.3 million, even as total expenses increased 11%, primarily driven by higher salary costs as SOS staffed up its expanded production and logistics operations. 

Assets grew while liabilities shrunk

Total assets grew 3% to $2.07 billion, anchored by a 17% surge in cash and cash equivalents from $473 million to $552 million. Total equity stood at $1.72 billion, up from $1.63 billion in Q1 2025, while total liabilities declined to $351 million from $385 million. 

Net cash provided by operating activities reached $196.3 million, up 22% from the prior year quarter. SOS enters the remainder of 2026 with its strongest operational foundation in years. 

The SEEK factory is running at full capacity, regional export channels are active, the Montego Bay facility is fully restored.