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Derrick Cotterell’s Derrimon Trading Reports $26 Million In Net Profit For First Quarter In 2016

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8 years ago

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Derrick Cotterell’s Derrimon Trading has reported a $5.692 million increase in its net profit for the first quarter of 2016 when compared to the same period in 2015. In its reports for the three month financial period, Derrimon reported that this 27.4% increase resulted in an increase from $20.514 million to $26.206 million.

Gross profit reported for the period was $186.927 million, representing an 8.4% increase over the number reported in the same period in the previous year. Cotterell says these increases were due to a ‘combination of improvement in margins within both the distribution and retail segments of the business”.

Meanwhile, revenue for the three months was reported at $1.406 billion, a 8.4% improvement over the $1.296 billion reported in 2015 due to improved sales within the retail segment of the business.

The President and CEO says comparatively, operating expenses for the period was $156 million, representing a 10.82% or $15.234million increase over the $40.766 million reported for the period ending March 31 in 2015. He says the major factors for this increase were the cost for utilities, marketing expenses, staff cost and other contracted services.

Total Assets less Current Liabilities for Derrimon Trading was at $961.192 million, growth of $268.663 million compared to the same period in 2015. Cotterell says this improvement was mainly driven by growth in receivables, investments, cash and bank balances.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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7 years ago

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November 24, 2016

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JSE Online Trading Platform

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7 years ago

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November 24, 2016

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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8 years ago

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July 11, 2016

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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8 years ago

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June 27, 2016

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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8 years ago

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June 27, 2016

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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