Wisynco Has Entered An Agreement With Factories Corporation of Jamaica

• Wisynco is in the process of establishing a distribution centre in the Western region of the island and has successfully negotiated and entered into a lease agreement with Factories Corporation of Jamaica. 
• This agreement is to lease a 26,400 square foot warehouse facility at Hague, Trelawny effective November 1st, 2021 for a period of five years with the option to renew. Wisynco is currently retrofitting the warehouse space to meet its operational needs and anticipates that operations will commence at the warehouse toward the end of March 2022. 
• The company has experienced YoY net profit growth as of the first quarter ended September 2021, with a recovering stock price. Its stock price had declined marginally by 0.8% in 2021, however, it has appreciated 5.1% YTD. With global economic recovery underway, this new distribution centre will assist the company in meeting the growing demand, to further assist with improving its revenue generation and bottom line.

(Source: JSE News & NCBCM Research)