Derrimon Registers 2.3% Bump in Quarterly Revenue

Chairman and Chief Executive Officer of Derrimon Trading Company Limited, Derrick Cotterell says there have been marginal improvements in the company’s three months results.

Revenue from core activities totaled just over $1,438-million.

This represents a mere 2.3-percent over the $1,406-million for the corresponding period in 2016.

With the addition of the subsidiary, the revenue for the quarter was just over $1.5-billion dollars.

The Consolidated Net Profit of just over $41-million was impacted by a number of major factors including increased cost for utilities, marketing expenses, staff cost and professional services.

Profitability was also impacted by finance charges of nearly $26-million up from the over $16-million reported in March last year.

This he says is driven by new loans and other bridge financing, which was required to facilitate growth.

Derrimon Trading ended the quarter with Consolidated Earnings Per Stock unit of 15 cents up from 13 cents.

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