Pulse Investment Limited’s diversified business is now aiming at expanding business in the Caribbean and the world, using brand power, chairman Kingsley Cooper said in the company’s new annual report.
“Notwithstanding the impact of the global COVID -19 pandemic, the company’s ultimate objective is the globalisation of the Pulse brand, with the attendant delivery of benefits to shareholders on a significantly larger scale than currently obtains,” the report stated.
For the year ended June 2020, the real estate, lifestyle and media company, increased its profits by 22.2 per cent, up from J$653.2 million in 2019 to J$840.3 million this year.
Revenues also increased, moving by 18.9 per cent, up from J$1.06 billion in 2019 to $1.26 billion this June.
Pulse recorded gains across most lines of business including media content production and distribution, as well as property rentals and investment property.
Model agency commissions were down, as was income from Pulse Rooms and live event ticket sales, all a result of the impact of COVID 19.
It was noted that for its core business, the promotion of talent in the fashion and entertainment industry, “the type of talent is well endowed within the borders of Jamaica and the wider Caribbean.”
Directors stated that they recognised that ‘the unique beauty, culture and talent of the Caribbean are the comparative advantages to the rest of the world, adding, “Globally, we have the advantage of technology to exploit these unique qualities and develop them into high end products that can command international attention.
“This is the goal of Pulse; to become an even greater player on the international landscape and to fully develop its range of activities, locally and internationally.”
They noted that the company has married its fashion know-how with a newer focus on television, event production and a fast growing real estate business.
“This diversified yet streamlined business model has resulted in a total of twelve different revenue streams for the Company,” it was noted.
Management said Pulse’s real estate portfolio of shops, offices, restaurants, accommodations, event venues and hotel facilities are now a key part of the company’s core business.
The company plans to open new suites at Villa Ronai in 2021 and develop 30 Pulse homes in 2023.
Management said Pulse’s real estate arm is set to take an even more central role in the company’s operations.
“Chief among the company’s revenue drivers are the following core activities: The Pulse Brand the international success of the Pulse supermodels, Caribbean Fashionweek (CFW) and other Pulse events and activities, has provided high visibility and international awareness of the Pulse brand, thus enabling the Company to better image its products and to further trade on the value of its name recognition.”
Pulse Rooms and Offices At Trafalgar Pulse has now completed a 22-room accommodations development at 38a Trafalgar Road, that is projected to generate $70m in annual revenues.
In the period of the COVID pandemic, Pulse has converted half of its rooms to short stay offices. Pulse Suites At Villa Ronai Pulse has completed 68 guest suites at Vilia Ronai.
The suites will be open to the public in the first quarter of 2021 and are expected to generate approximately $350 million in annual revenues, assuming a 66 per cent occupancy level.
“We anticipate continued success as Pulse maintains its tradition of innovation and diversification as a hedge against the uncertainties that lie ahead. We are committed to working even harder going forward, in an effort to realise our company’s tremendous potential,” it was stated.