Derrimon Trading Company Limited successfully hosted its Annual General Meeting (AGM) at the Terra Nova All-Suite Hotel in Kingston on September 11, 2024. The meeting marked the end of a year that saw Derrimon continuing its upward trajectory, despite challenges posed by macro-economic factors and global supply chain disruptions. Key members in attendance included Derrick Cotterell, Group Chairman and CEO, alongside Ian Kelly, Group Chief Financial Officer at Derrimon Trading Limited, Monique Cotterell, Group Human Resources Director and Company Secretary, and other senior leaders of the Group.

The Group reported consolidated revenues of J$18.74 billion for 2023, representing a 1.75% increase over the previous year’s performance with assets totaling J$16.6 billion (the largest on the Junior Market of the Jamaica Stock Exchange), reinforcing its strong market position and the impact of its diversified operations spanning wholesale, retail, and proprietary brand distribution. CEO Cotterell, in his Chairman’s report, emphasised Derrimon’s strategic pivots, including technological advancements, subsidiary reorganisation, and the expansion of flagship brands like Delect, Refresh, and Sampars, all aimed at laying a solid foundation for future growth.

Notably, the Group continued to drive efficiencies across its operations, with key achievements including the celebration of the Group’s 25th anniversary and the celebration of their 10th anniversary on the Junior Market of the JSE. “2023 was a year of investment in our brands and people,” stated CEO Cotterell. “We are excited by the prospects that lie ahead as we continue to strengthen our business model.” With strategic investments made in 2023, including a new distribution agreement set to expand the Delect and Sampars brand into the New York tri-state area, Derrimon remains optimistic about future growth prospects.