Wisynco to add warehouse space, weighs new production lines as profit jumps 29%

Wisynco Group could commit to new production lines within 18 months, Chairman William Mahfood said, as the manufacturer and distributor approaches the ceiling of the capacity it installed over the past three years.

Profit for the September first-quarter, the first of Wisynco’s 2027 financial year, jumped 29 per cent to $1.91 billion. Revenue rose 20.7 per cent to $19.54 billion, and gross margin widened to 36.4 per cent from 34.8 per cent.

“What’s happening is, we’re starting to unlock all of that capacity and because of that we’re seeing significant improvements in terms of throughput production and then gross profit margin,” Mahfood told the Financial Gleaner, attributing the overall improvements to an improved operations at the plant.

“I think we’re okay for at least another year and a half, but we have plans in place to put in more capacity within that timeframe,” he said.

Not all the top-line growth came from volume, as Wisynco said the revenue increase also reflected price increases taken to offset the Special Consumption Tax on non-alcoholic sugar-sweetened beverages, which took effect on May 1.

On warehousing, Mahfood said the company is finalising plans for a southwest distribution centre near Lacovia, St Elizabeth, and is preparing a third logistics facility on land it acquired opposite its Lakes Pen headquarters. A separate 70,000 square feet at the Lakes Pen complex, first disclosed in September, is due for completion by year end.

The company is also pushing further into alcoholic beverages. Wisynco bought a 30 per cent stake in Ringtail Holdings Limited, parent of premium wines and spirits distributor Select Brands Limited, for $2.45 billion in July 2025, and separately acquired the business and production assets of Ringtail Bottlers Limited, which gave it co-packing rights for Stone’s Ginger Wine.

“We’re seeing some tremendous opportunities there, both in terms of synergies,” Mahfood said. “It’s not just participating as an equity investor in a company, but also looking at how we can partner together in those investments to build business.”

He said the Worthy Park rum-based, ready-to-drink product Wisynco manufactures now leads the non-brew alcoholic ready-to-drink category.

On the wider economy, Mahfood played down concerns about softer consumer spending. “The reality is, my view is that it’s a short-term thing,” he said. “I do expect, next year, big improvements in terms of consumption and economic growth driven by the infrastructure investments, a lot of the hotel investments, manufacturing and agriculture.”

Exports account for less than five per cent of revenue but grow faster than domestic sales, Mahfood said. The company is chasing openings in the United States, Canada and Europe. “We see some opportunities in the key markets: US, Europe, Canada,” he said. “We have new relationships starting in some of those areas, and we do expect continued growth higher than the local market over the next few years.”

Wisynco’s revenue has more than doubled in five years to $65.35 billion in the financial year ended June 2026 from $31.8 billion in 2021. Total assets stood at $48.52 billion at the end of September, up six per cent.

“We’ll continue to invest in capacity. We’re not afraid to invest,” Mahfood said. “As one chairman used to say: either you grow or you die.”

neville.graham@gleanerjm.com