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Businessuite 2020 #10 Guyana Companies – US$ Revenue |
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NR |
NR |
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NR |
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LC$000 |
US$000 |
LC$000 |
US$000 |
2017 |
2018 |
2019 |
2020 |
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Company |
2019/2020 |
2019/2020 |
2018/2019 |
2018/19 |
1 |
1 |
1 |
1 |
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GY |
Banks DIH Ltd. |
$32,917,100 |
$158,271 |
$30,923,270 |
$154,269 |
Principal Activities
The Principal Activities of the Group are 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, the operation of commercial banking, transportation and alternative energy products and services.
Revenue & Results
The Group’s third party revenue was $32.917 billion compared to $30.518 billion achieved in 2018, an increase of $2.399 billion, or 7.9%.
The Trading Profit from operations of the Group was $7.529 billion when compared to $6.837 billion achieved in 2018, an increase of $692.0 million or 10.1%, while Profit After Tax attributable to Equity Holders of the Parent was $4.897 billion compared to $4.286 billion in 2018, an increase of $611.0 million or 14.3%.
Citizens Bank Guyana Inc., a 51% owned subsidiary of the Company, achieved a Profit before Tax of $1.599 billion compared to $1.009 billion in 2018, an increase of $590.0 million or 58.5% and a Profit after Tax of $955.3 million compared to $602.3 million in 2018, an increase of $353.0 million or 58.6%.
Dividends
A first interim dividend of $0.30 per share unit was paid on 17 May 2019; a second interim dividend of $0.30 per share unit was paid on 25 October 2019; and a final dividend of $0.56 per share unit is now recommended, aggregating to a total of $1.16 or an overall cost of $985.8 million.
Citizens Bank Guyana Inc paid an interim dividend of $0.90 per share unit and a final dividend of $2.25 per share unit is now being recommended, aggregating to a total of $3.15 per share unit or $187.4 million.
Capital Expenditure
Investments in Capital Equipment, Plant and Machinery continued during the period under review. The potable water storage was increased to facilitate the increase in production on the respective Plants. The upgrade of the Production Facilities on the Dairy Plant was completed which enabled the manufacture of new flavours of Ice-cream and Frostee Products. The Trisco modernisation Project continued with the installation of new state of the art packaging equipment thereby enabling the manufacture of new sizes of Whole Wheat and Plain Crackers and Midwest Cookies and Tea Biscuits. The Qik Serv Restaurants were fitted with Rotisserie Ovens, High Pressure Fryers and Mixers to enhance capacity and product quality.
Security systems were improved with the addition of night vision cameras
and the Sales & Merchandising functions enhanced by way of the installation of Freezers, Bottle Coolers and Water Dispensers in various locations. The transition to the use of Solar Energy was continued at the Qik Serv Restaurants which changes resulted in energy cost savings.
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The Company’s capital spending authorised for 2020 is $4.412 billion of which $2.520 billion is authorised and contracted for.
Reserves
The sum of $4.897 billion Profit attributable to shareholders has been transferred to Retained Earnings. After the payment of dividends, the
Reserves at the 30 September 2019 is $36.444 billion.
Extracted from Chairman and Managing Director report
Clifford B. Reis Chairman and Managing Director
More information:
https://www.banksdih.com/sites/default/files/document/Banks%20Annual%20Report%202019.pdf