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Derrimon Trading Q3 profit climbs YOY

Derrimon Trading Company Ltd said its third-quarter normalized net income was 4 Jamaican cents per share, a gain from 1 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, an increase from J$3.7 million in the prior-year period.

The normalized profit margin rose to 0.6% from 0.2% in the year-earlier period.

Total revenue rose 15.0% on an annual basis to J$1.73 billion from J$1.50 billion, and total operating expenses grew 14.6% year over year to J$1.69 billion from J$1.48 billion.

Reported net income rose year over year to J$17.5 million, or 6 cents per share, from J$6.0 million, or 2 cents per share.

As of Nov. 12, US$1 was equivalent to J$119.43.