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jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.

#GoodPolicyMattersEvenMore

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jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.

Blue Power adds new revenue line in lumber

Blue Power is importing lumber and plyboard for sale to Lumber Depot.  It is seeking to increase revenues by recovering CARICOM markets lost in 2019 when its certificate of origin was cancelled. Exports to those markets constitute 20 per cent of sales. Blue Power is also looking to the US. Previously a division of Blue Power, Lumber Depot Limited acquired the assets and liabilities from Blue Power in August 2019. It later listed on the Junior Market of the Jamaica Stock Exchange (JSE). Lumber Depot operates a full‐service hardware store in Papine that serves the needs of large and small‐ scale building contractors, as well as homeowners doing construction projects, renovations and repairs.   

Derrimon describes its 2020 financial performance as stable

Derrimon Trading says 2020 was a stable year for the company despite the challenges presented by the coronavirus (COVID-19) pandemic.  In comments attached to the company’s annual financial statements, Derrimon’s chairman, Derrick Cotterell, stated that the group experienced an increase in both revenue and profitability from its subsidiaries Woodcats and Caribbean Flavours and Fragrances in addition to several portfolios within the distribution segment.  “The consolidated group and the company’s financial performance were stable during this reporting period” he stated. Listed on the Junior Market of the Jamaica Stock Exchange, Derrimon Trading is a distributor of dry and frozen bulk commodities. 

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