April 11, 2025
Paramount Trading (Jamaica) Limited (PTL)
Unaudited Financials for the Nine Months Ended February 28, 2025
Paramount Trading (Jamaica) Limited (PTL) reported a 5% decrease in revenue, totaling $1.20 billion for the nine months ended February 28, 2025, compared to $1.27 billion in the corresponding period last year. Revenue for the third quarter increased by 2%, closing at $409.23 million compared to $400.88 million for the comparable quarter of 2024.
Direct expenses amounted to $780.34 million (2024: $790.25 million), representing a decrease of 1% year over year. Consequently, gross profit decreased by 12% to $417.41 million compared to $476.12 million for the nine months ended February 28, 2024. The company booked a gross profit of $154.79 million for the third quarter versus $146.94 million reported for the similar quarter of 2024.
Other operating loss closed at $19.90 million (2024: other operating income of $34.76 million), while administrative expenses increased by 8%, from $332.97 million in 2024 to $359.53 million in the period under review. As a result, total expenses for the nine months ended February 28, 2025, amounted to $376.63 million, a 10% increase relative to $342.47 million reported in 2024.
Operating profit for the nine months ended February 28, 2025, amounted to $20.89 million, an 88% decrease relative to $168.40 million reported in 2024. Operating profit for the third quarter amounted to $31.69 million (2024: $45.21 million). Net finance cost totaled $63.96 million, a 45% increase from the corresponding period last year (2024: $44.22 million).
Pre-tax loss for the nine months ended February 28, 2025, amounted to $43.07 million, relative to pre-tax profit of $124.19 million reported in 2024. Pre-tax profit for the third quarter amounted to $9.28 million (2024: $26.22 million).
Net loss for the nine months amounted to $43.07 million, from the net profit of $99.93 million reported in 2024. For the third quarter, net profit was $9.28 million (2024: $18.35 million).
Consequently, loss per share for the nine months amounted to $0.03 (2024: EPS: $0.07), while earnings per share for the quarter totaled $0.006 (2024: EPS: $0.012). The twelve-month trailing LPS was $0.09, and the number of shares used in these calculations was 1,542,467,080.
Notably, PTL’s stock price closed the trading period on April 10, 2025, at a price of $1.05.
Balance Sheet Highlights
The company’s assets totaled $2.21 billion (2024: $2.05 billion). This increase in total assets was attributable to inventories amounting to $863.69 million (2024: $524.94 million).
Shareholders’ equity was $996.45 million (2024: $1.15 billion), representing a book value per share of $0.65 (2024: $0.75).
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