March 2, 2018
Derrimon Trading Limited (DTL) reported trading income of $6.72 billion for the year ended December 31, 2017. For the quarter, trading income amounted to $396.58 million.
Cost of Sales for the year amounted to $5.39 billion, resulting in a gross profit of $1.34 billion for the 2017 financial year. Gross profit for the quarter amounted to $396.58 million
Other Income for the year end totalled $257.13 million.
Total operating expenses was $1.14 billion for the year, as administrative expenses totalled $1.01 billion, while selling and distribution expenses closed at $135.67 million. Total expenses for the fourth quarter amounted to $420.03 million.
Consequently, operating profit for totalled $451.70 million, while for the quarter, DTL booked operating profit of $215.83 million.
Finance Cost for the financial year closed at $169.90 million.
Consequently, profit before taxation grew amounted to $281.80 million for the year ended December 31, 2017. No taxes were reported for the period as such Net Profit amounted to $281.80 million a 76% increase. For the quarter, the company booked a net profit of $174.11 million. Net profit attributable to shareholders amounted to $252.37 million.
Earnings per share (EPS) closed the year end at $0.92. The total number of shares used in the computation amounted to 273,336,067 units. Additionally, the company closed the at $7.48 as at the end of trading on March 1, 2018.
Balance Sheet Highlights
As at December 31, 2017, the Group’s assets totalled $2.89 billion. Inventories closed the year at $795.55 million, while receivables amounted to $887.21 million. Cash and cash equivalents totalled 265.52 million.
Shareholder Equity totalled $864.07 million, which translates to a book value of $3.16 per share.
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