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Businessuite 2022 Top Guyana Company – US$ Revenue |
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US$000 |
US$000 |
2017 |
2018 |
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2020 |
2021 |
2022 |
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Company |
2022/2021 |
2021/2020 |
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GY |
Banks DIH Ltd. |
$199,088 |
$164,542 |
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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 and Profits
For the period ended September 30 2021 the Profit after Tax for the Company was $6.777 billion compared to $5.271 billion, an increase of $1.506 billion or 28.6%. This improvement in performance was as a result of an increase in physical sales by 6%, the increase in dollar sales turnover by 17.7%, management of operational expenses and better yields derived from raw material utilisation.
The Group’s Profit before Tax also improved from $8.899 billion to $11.078 billion by $2.179 billion or 24.5%.
Profit after Tax for the Group attributable to shareholders of the Parent Company was $7.170 billion compared to $5.666 billion in 2020, an increase of $1.504 billion or 26.5%.
The Group’s Net Asset Value per share has increased from $50.89 to $58.87 by 15.7%.
The Board of Directors has recommended a dividend proposal of $1.70 per share unit resulting in an overall cost of $1.445 billion as compared with $1.147 billion in 2020, an increase of $298.0 million or 26%.
Revenue generated by the Company was $35.858 billion compared to $30.468 billion in 2020, an increase of $5.390 billion or 17.7%.
The Profit before Tax for the Company was $9.439 billion compared to $7.329 billion, achieved in 2020, an increase of $2.110 billion or 28.8%, while the Profit after Tax for the Company increased from $5.271 billion to $6.777 billion by $1.506 billion or 28.6%.
Capital Expenditure
Fellow Shareholders, during the period under review the Company continued to invest in new technology and other assets to sustain growth, by upgrading our production capabilities, to achieve better operational efficiencies.
Capital projects completed, included the upgrade of the malts packaging line to enhance the efficiencies of the bottling process. The Soft Drinks Plant benefitted from upgrades to the Blow moulder, Filler, Labeller, Shrink Wrapper and Pallet Wrapper, and the Rum and Winery operations received a new Labeller and CIP System and new Fermenters respectively.
In the Trisco Division, the Bakery was upgraded with a new Intermediate Proofer, Conveyors and Moulders while a new Sugar Pulveriser Mill was installed on the Biscuit Plant in order to improve the quality of our cookie, cake and pastry products. A new Crate Washer was installed in the Dairy Plant.
Our route to market channels was strengthened with the acquisition of new Trucks and Forklifts. Our customer experience was also enhanced as we continue to provide them with Merchandising Coolers, Freezers and Water Dispensers.
Other projects completed, included the new Record Storage Facilities, and a new Motorised Truck Washing Facility. Our Information & Communication Technology capacity was further enhanced with the addition of new Hardware and Software as well as the replacement of several old items of equipment.
At the time of reporting, there were capital projects which are ongoing and are expected to be completed within the new financial year. These include the acquisition of lands at Vreed-en-Hoop and Bartica to facilitate the construction of two new Qik Serv Restaurants.
The Soft Drinks Plant Syrup Room and Blending Facility are being upgraded to facilitate the production of Minute Maid products under license from the Coca-Cola Company, a new Malt and Rice mill as well as a new Centrifuge System will be added to the Brewery. A new Bottled Water packaging line will be installed at the Industrial Site location.
Clifford Barrington Reis, C.C.H. Chairman/Managing Director
https://www.banksdih.com/sites/default/files/document/Banks%20Annual%20Report%202021.pdf