Paramount Trading Jamaica Reports Strong 2022 Growth

PUBLISHED ARTICLE FROM JAMAICA OBSERVER

Paramount Trading (Jamaica) Limited recorded strong growth in 2022 as economic activity recovered across several of the industries served by the company. For the third quarter ended February 28, revenue increased 34 per cent to $463.96 million, representing one of the strongest quarterly performances in Paramount Trading Jamaica’s history.

Strong Financial Performance

Reopening across hospitality, education, entertainment, transportation and other commercial sectors supported increased demand, particularly within the company’s Food and Technical Grade division. Gross profit rose 47 per cent to $158.19 million, while operating profit increased to $63.69 million despite higher raw-material costs and global supply-chain pressures.

Expanding Local Manufacturing

The recovery also supported Paramount’s continued investment in local manufacturing. The company expanded opportunities in lubricant production while pursuing additional third-party contract manufacturing and strengthening its ability to supply industrial and commercial customers.

Paramount also enhanced its bleach-production capabilities to manufacture higher concentrations locally. These investments supported the company’s strategy of reducing reliance on imported finished products while creating opportunities for future export growth.

Learn more about Paramount Trading Jamaica’s local manufacturing capabilities, including oils and lubricants, bleach and specialty chemical production.

For the full financial year, Paramount Trading Jamaica recorded approximately $1.72 billion in revenue and net profit of approximately $174.6 million, reinforcing the company’s strong recovery and manufacturing-led growth strategy.

Source Credit: Originally reported by Jamaica Observer on April 23, 2022.