Paramount Trading Company is reporting net profits after taxes of $54.9 million on revenues of $445.2 million during the first quarter of this year.
This compares with a loss of $37.9 million on revenues of $389.1 million during the same period of the previous year.
This year's profits were generated on the back of an 8% reduction in operating expenses to $116.3 million when compared with the previous year.
Gross profits therefore jumped to $210.4 million, an increase of 58% when compared with the first quarter of 2024.
The company's finance cost however ticked up $22.1 million during the first quarter of this year, compared with $19.7 million during the first quarter of last year.
Its net current assets, or its current assets minus credit liabilities, however dipped $894.7 million this year from $903.9 million last year.
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