Paramount Trading Reports Record FY2023 Results
PUBLISHED DISCLOSURE FROM JAMAICA STOCK EXCHANGE
Paramount Trading (Jamaica) Limited achieved a significant financial milestone for the year ended May 31, 2023, generating revenue of approximately $2.464 billion and profit after tax of $245.4 million.
Record Financial Performance
Revenue increased by approximately 44 per cent over the previous financial year, while profit after tax advanced approximately 41 per cent. The performance reflected Paramount Trading Jamaica’s continued focus on manufacturing, customer value, market expansion and operational development.
The company’s FY2023 results marked the first time annual revenue surpassed $2 billion, while gross profit reached approximately $721.3 million.
Strengthening the Board and Leadership
Paramount also strengthened its corporate governance and leadership structure during 2023. Attorney-at-law Demetrie Adams was appointed Legal Officer, while the company subsequently appointed Kathryn Lewis-Green, Catherine Goodall Jackson, Loren Edwards and Dwight Balli to its Board of Directors.
The new directors brought experience across law, finance, banking, marketing, business management and manufacturing, supporting Paramount’s continued development and long-term growth strategy.
Paramount’s 2023 performance also supported its broader plans to expand manufacturing and pursue additional opportunities in Jamaica and export markets.
View Paramount Trading Jamaica’s Annual Reports for additional company financial information.
Source Credit: Financial results were published in Paramount Trading Jamaica’s 2023 Annual Report, with Board appointments disclosed through the Jamaica Stock Exchange on November 28, 2023.
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