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Derrimon Trading Q2 profit climbs 5.3% YOY

Derrimon Trading Company Ltd said its second-quarter normalized net income was 8 Jamaican cents per share, an increase of 9.1% from 7 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$20.2 million, an increase of 5.3% from J$19.2 million in the prior-year period.

The normalized profit margin climbed to 1.5% from 1.2% in the year-earlier period.

Total revenue grew on an annual basis to J$1.64 billion from J$1.58 billion, and total operating expenses climbed year over year to J$1.59 billion from J$1.54 billion.

Reported net income rose 5.3% year over year to J$32.3 million, or 12 cents per share, from J$30.7 million, or 11 cents per share.

As of Aug. 12, US$1 was equivalent to J$126.70.