Paramount Trading (Jamaica) Ltd reported stronger revenue and profit for its third quarter ended February 28 despite disruptions caused by Hurricane Melissa.
“The gross revenue for the current quarter was impacted by the passage of Hurricane Melissa in the previous quarter. Some of our industrial customers suffered damage in the hurricane and gradually returned to normal activity levels by the end of January,” said Chairman Radcliff Knibbs in the financial report.
Revenue for the third quarter reached $432.7 million, up from $409.2 million in the corresponding period a year earlier – a 5.7 per cent increase. For the nine-month period, revenue climbed to $1.26 billion from $1.2 billion, reflecting steady demand across the company’s industrial and construction customer base.
Paramount, listed on the Junior Market of the Jamaica Stock Exchange, imports and distributes chemical raw materials and construction products, including the Sika line of adhesives, sealants, and admixtures used across the building and infrastructure sectors.
The improvement in profitability was more pronounced. Profit before tax for the quarter stood at $32 million, a 144 per cent jump over the $9.3 million recorded in the same quarter of the prior year. On a nine-month basis, the company swung from a pre-tax loss of $39.5 million to a profit of $147.2 million – a turnaround attributed to tighter cost management and recovering customer activity following the hurricane.
Gross profit for the quarter rose 20 per cent year-on-year to $186.6 million while operating expenses of $137.2 million represented an 8.5 per cent increase over the same period last year. Net profit came in at $24 million compared to $9.3 million previously, with earnings per share improving to $0.016 from $0.006.
Finance costs eased to $20 million for the quarter from $23 million a year earlier, reflecting lower principal balances on the company’s loan book.
Total assets stood at $1.69 billion as at February 28, 2026, up from $1.65 billion a year earlier. The company paid an interim dividend of $0.026 per ordinary stock unit in December 2025.
business@gleanerjm.com
