PARAMOUNT Trading Jamaica, a listed company led by businessman Hugh Graham, benefited from a new contract that rocketed its November 2014 second-quarter net profit to $49 million, or 157 per cent higher year-on-year.
Concurrently, Graham indicated that the company could announce a major investment by June, which follows on earlier reports of ongoing negotiations.
Paramount’s revenues jumped to $227.9 million in the second quarter from $162.5 million a year earlier based in part on the new client.
“The spot business that we landed in that quarter really assisted our sales,” Graham said of the one-off contract in an interview on Monday. “Some of these industrial companies have overseas contractors that come in and maintain machinery. They bring the manpower and the chemical elements. But what we were successful in doing is negotiating the chemicals [side of the] contract.”
Published in the Observer
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