ELECTRICAL and lighting company FosRich Limited is moving aggressively to implement a five-point turnaround strategy aimed at restoring profitability and strengthening cash flow as it positions the business for sustainable growth after reporting a wider net loss in the first quarter of this year.

For the three months ended March 31, 2026, the company reported a net loss of $178.8 million, compared with a loss of $68.6 million in the corresponding period last year. Revenue also declined sharply to $415.2 million from $852.9 million a year earlier, following weaknesses in the solar segment coupled with cash flow constraints that limited inventory purchases.

Managing Director Cecil Foster, in an interview with the Jamaica Observer this week, said the company is making steady progress on the initiatives outlined in its first-quarter report to shareholders and expects to complete the most critical elements of the plan by end of July.