DTL traded largest volume year to date

On June 26, 2017, 2,031,926 units of Derrimon changed hands with the share price closing the trading day at $8.50. The volume represents the largest traded since the start of the year. The second largest volume traded to date was 1,039,357 units, with the share price closing at $8.52 on June 14, 2017. Year to date, on average approximately 33,482 units have traded daily, while for the past twelve months, commencing June 23, 2016, an average 41,006 units have traded daily.

For the quarter ended March 31, 2017, DTL reported consolidated revenues of $1.53 billion relative to $1.48 billion in 2016, a 3% improvement year over year. The company indicated that the incorporation of the subsidiary, Caribbean Flavours and Fragrances contributed positively to the year over year increase in revenue.  DTL by itself posted a growth of 2% in revenues from $1.41 billion in 2016 to $1.44 billion for the quarter. Following cost of goods sold of $1.25 billion (2016: $1.26 billion), gross profit climbed to $278.63 million (2016: $217.10 million). This the company attributed to “a combination of improvement in margins arising from strategies employed within both the distribution & retail segments of the business”.  Net Profit for the period increased to $41.28 million despite increased expenses stemming from increases in the cost for utilities, marketing expenses, staff costs and professional services associated with the acquisition of the further 26% of the shares of Caribbean Flavours and Fragrances Limited as well as the two (2) new acquisitions.

DTL recently advised that is has acquired the assets of Chris Ryan Limited which was subsequently rebranded to Sampars Cross Roads Supermarket, from the former Empire Supermarket, at 1-3 Retirement Road.  Additionally, they have finalized a Joint Venture Agreement and concluded the purchase of the assets of Caribbean Home Entertainment Systems Limited former operators of Carihome Supermarket Limited which will be operated under the brand – Select Grocers.

Derrimon Trading Company Limited is a distributor of bulk household food items inclusive of meat products. The Company also distributes branded products on behalf of a major global corporation. The company’s retail arm known as Sampars, sells a wide variety of consumer goods.  Their distribution division continued to enhance its portfolio and began distribution of chilled beverages manufactured by Jamaica Beverages Limited which manufactures beverages such as Fruta and Juiciful.

 

The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.

2017-06-27T16:16:32-05:00