Eyes expansion into Trinidad through one of its largest bakery manufacturers

Durrant Pate/Contributor

Jamaica’s leading plastic products manufacturer, Omni Industries, has set a five-year target to double its export revenue from roughly 3.5% of total revenues currently to 10%.

Managing Director, Patrick Kumst made the disclosure at the company’s at the company’s Annual General Meeting (AGM) on Tuesday. He advised shareholders that Omni is in discussions with one of Trinidad’s largest bakery goods manufacturers to supply baking trays, steering the company towards its first concrete entry point into a market it has targeted since its 2024 stock market listing.

“Our target over the next five years is to increase export sales to 10 per cent of total revenue,” Kumst told the AGM, explaining, “that means expanding our base. Trinidad is one of the markets we’re gearing up for. We also plan to broaden our existing distributorships in several other CARICOM territories.” The push builds on a year of regional expansion. 

New distributorship partnerships

Last year, Omni established new distributor partnerships in Guyana, Barbados, Saint Lucia, Antigua and Dominica, shipping over 34,000 paint buckets and lids across the region. Saint Lucia and Dominica extended the company’s footprint beyond the markets named in its 2024 listing prospectus. 

Overseas sales still make up a small share of the business at approximately 3.5% of total revenue in 2025, down slightly from 3.8% in 2024 due to a non-recurrence of a large one-off order. While there are no current plans for the physical expansion at Omni’s facility at Twickenham Park, Spanish Town, the Managing Director assured shareholders that Omni continues to work toward goals that will carry it further into the region, with the same focus that saw it through 2025. 

Positive 2025 financials

Kumst outlined the 10% target following his presentation of Omni’s financial results for the year ended December 31, 2025, the strongest in the company’s history. Revenue for the year was $2.19 billion, up 14% over 2024, while net profit rose 12% to $142.0 million. 

Total assets grew nearly 13% to $1.86 billion, and shareholders’ equity passed $1 billion for the first time, closing the year at $1.07 billion. This performance came in a year that also saw Hurricane Melissa strike Jamaica as a Category 5 storm, disrupting operations nationally in the final quarter. 

In 2025, Omni also invested $217.8 million in capital expenditure, including $166.2 million in new machinery, commissioning three new injection moulding machines and five custom moulds. For Kumst, “FY 2025 was the strongest year in the company’s history, and I am proud of how our team managed the difficulties that came with it. We entered 2026 with stronger cash generation, a stronger equity position, and a more modern manufacturing base than we have had before.”

Solid first half of 2026

Omni’s unaudited results for the first half of 2026 show first-quarter revenue of $693 million, up 47% year-over-year and second-quarter revenue of $637 million, up 23%. Combined, the first half delivered $1.33 billion in revenue, up 35% year-over-year and $142.5 million in net profit, up 74%, supported by consistent demand for construction and rebuilding-related products.

Shareholders’ equity rose from $1.069 billion at the end of 2025 to $1.212 billion as at June 30, 2026. This strengthened position informed the Board’s move to announce an interim dividend for the 2026 financial year of $0.011 per share, reflecting a $28.5 million payout. 

Shareholders on record as of September 15, 2026, will qualify for the payout, with a payment date of October 30, 2026.