The Principal Activities of the Group are the brewing, blending, bottling and wholesale marketing of beers, wines, liquors, and assorted beverages, the processing of food items, the operation of restaurants, bars, laundry services, hotel and the operation of commercial banking. Revenue & Results
The Group’s third party revenue was $30.923 billion compared to $30.006 billion achieved in 2017, an increase of $917.0 million, or 3%.
The Trading Profit from Operations of the Group was $6.837 billion when compared to $6.196 billion achieved in 2017, an increase of $641.0 million or 10%, while Profit after Tax attributable to Equity Holders of the Parent was $4.286 billion compared to $3.888 billion in 2017, an increase of $398.0 million or 10%.
Citizens Bank Guyana Inc., a 51% owned subsidiary of the Company, achieved a Profit before Tax of $1.009 million and a Profit after Tax of $602.3 million.
Dividends A first interim dividend of $0.28 per share unit was paid on May 2018, a second interim dividend of $0.28 per share unit was paid on 25 October 2018, and a final dividend of $0.54 per share unit is now recommended, aggregating to a total of $1.10 or an overall cost of $934.8 million.
Citizens Bank Guyana Inc paid an interim dividend of $0.70 per share unit and a final dividend of 1.80 per share unit is now being recommended, aggregating to a total of $2.50 per share unit or $148.7 million.
Capital Expenditure In 2018, the Company’s capital spending amounted to $3.327 billion which included a mechanical conversion on the Nos. 1 and 2 Soft Drink Plants that resulted in the reduced cost of packaging materials. In addition, a new Vehicle Workshop and Truck Parking Zone were commissioned along with our new offices for the Workshop Administration, Environmental and Safety and the Building and Property Departments.
A new Plastic and PET Chipping Facility was constructed as well as the Solar Energy Progamme was continued at our OMG and Qik Serv Restaurants. The installation of New Biscuit and Ice-cream Packaging Lines, the drilling of a New Water Well, and additional storage and the purchase of Trucks and Forklifts were also undertaken in the period under review.
The Company’s capital spending authorised for 2019 is $3.498 billion of which $584.6 million is authorised and contracted for. Reserves The sum of $4.286 billion Profit attributable to Shareholders has been transferred to Retained Earnings.
After the payment of dividends and revaluation of land and buildings, the Reserves at the 30 September 2018 is $32.114 billion