Paramount Trading Reports Strong Growth in Revenues

Paramount Trading Reports Strong Growth in Revenues

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Paramount Trading Jamaica unaudited results for the nine months ending February 2018 is reporting strong growth in revenues.

Sales for the nine-month period were just over a billion dollars.

This represents an increase of 24-percent or almost 200-million higher than the more than $830-million recorded in 2017 for the same period.

Third quarter sales were also up coming in at over $340-million.

This represents a just over 17-percent or $51-million higher than the almost $300-million for the 2017 quarter.

The strong sales performance for the quarter was driven by their lubricants business line.

On the profit side, Paramount Trading is reporting nine-month profits of more than $66-million, which the Directors say represented 82-percent of the $81-Million profits made in the same period in the previous year.

This decline they say, resulted from a reduction in Gross Profit margins in some business categories, caused by increased competitiveness, increased staff costs, depreciation and other activities to support business development in line with their strategic objectives.

Paramount Trading closed the nine-month period with earnings per share of 4-cents compared to the 5-cents for 2017.

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News Credit: Nation Wide Radio | Read here http://nationwideradiojm.com/paramount-trading-reports-strong-growth-in-revenues/

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