Profits for Derrimon edged up 33.7%

  • Derrimon Trading Company Limited reported unaudited net profits attributable to shareholders of $91.62Mn (EPS: $0.034) for the three months ended March 31, 2020, up by 33.7% (or $23.11Mn) relative to the same period in the prior year.
  • This outturn can be explained by a 5.5% (or $173.20Mn) increase in trading income, a 360.1% (or $17.72Mn) increase in other income as well as a 15.4% (or $8.98Mn) decline in finance cost, which outstripped the 14.3% (or $58.18Mn) increase in operating expenses. 
  • The stock has fallen 12.5% since the start of the calendar year. Derrimon closed Thursday’s trading session at $2.24 and currently trades at a P/E of 19.5x earnings which is above the Junior Market Distribution Sector Average of 17.5x.

(Source: Derrimon Financials)