May 16, 2025
Derrimon Trading Ltd (DTL)
Unaudited financials for the first quarter ended March 31, 2025:
Derrimon Trading Ltd (DTL) for the first quarter ended March 31, 2025, reported a 21% increase in trading income totalling $4.30 billion compared to $3.56 billion in the corresponding three months last year.
Cost of sales amounted to $3.19 billion (2024: $2.65 billion), this represents an increase of 20% year over year. Consequently, gross profit increased by 23% to $1.11 billion compared to $906.40 million for the first quarter ended March 31, 2024.
Administrative expenses increased by 13% to close at $785.35 million (2024: $694.03 million), while selling & distribution expenses increased by 70% from $97.88 million in 2024 to $166.43 million for the three months. As a result, Total Operating Expenses for the first quarter amounted to $951.78 million, a 20% increase relative to $791.90 million reported in 2024.
Operating profit before finance costs for the three months amounted to $245.23 million, a 22% increase relative to $200.46 million reported in 2024. Finance costs totalled $175.63 million, a 37% increase from the corresponding period last year. (2024: $128.61 million).
Profit before taxation for the first quarter ended March 31, 2025, amounted to $69.59 million, a 3% decrease relative to $71.86 million reported in 2024.
Taxation for the three months had an 8% decrease to reach $12.53 million (2024: $13.65 million). Net Profit Att. To Shareholders of the company for the three months amounted to $44.96 million, a 19% decrease from the $55.35 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.010 (2024: EPS: $0.012). The twelve-month trailing LPS was $0.12, and the number of shares used in these calculations was 4,533,360,670.
Notably, DTL’s stock price closed the trading period on May 15, 2025, at a price of $1.78.
Balance Sheet Highlights
The company’s assets totalled $16.84 billion (2024: $16.54 billion). This increase in total assets was attributable to receivables which amounted to $3.15 billion (2024: $1.35 billion).
Shareholders’ equity was $6.06 billion (2024: $6.68 billion), representing a book value per share of $1.34 (2024: $1.47).
Balance Sheet Highlights:
The company’s assets totaled $17.70 billion (2023: $16.65 billion). This increase in total assets was attributable to receivables, which amounted to $4.18 billion (2023: $5.09 billion). Additionally, property, plant, and equipment also contributed to the increase, equating to $3.93 billion (2023: $3.57 billion).
Shareholders’ equity was $6.01 billion (2023: $6.63 billion), representing a book value per share of $1.33 (2023: $1.46).
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
