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Derrimon Trading profit holds mostly steady YOY in Q3

Derrimon Trading Company Ltd said its third-quarter normalized net income amounted to 4 Jamaican cents per share, compared with 4 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$10.9 million, compared with J$10.9 million in the prior-year period.

The normalized profit margin climbed to 1.3% from 0.6% in the year-earlier period.

Total revenue decreased 22.1% year over year to J$1.34 billion from J$1.73 billion, and total operating expenses fell 22.5% on an annual basis to J$1.31 billion from J$1.69 billion.

Reported net income came to J$17.5 million, or 6 cents per share, compared to J$17.5 million, or 6 cents per share, in the prior-year period.

As of Nov. 16, US$1 was equivalent to J$129.35.