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Businessuite 2021 #10 Guyana Companies – US$ Revenue |
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LC$000 |
US$000 |
LC$000 |
US$000 |
2017 |
2018 |
2019 |
2020 |
2021 |
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Company |
2020/2021 |
2020/2021 |
2019/2020 |
2019/2020 |
1 |
1 |
1 |
1 |
1 |
GY |
Banks DIH Ltd. |
$34,221,517 |
$164,542 |
$32,917,100 |
$158,271 |
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.
The Group’s third-party revenue was $34.222 billion compared to $32.917 billion in 2019, representing an increase of $1.305 billion or 4.0%. compared with $7.529 billion achieved in 2019 representing an increase of the Parent Company was $5.666 billion compared to $4.897 billion in 2019, an increase of $769.0 million or 15.7%.
The Group’s Net Asset Value per share increased from $45.25 to $50.89 by 12.5%. The Board of Directors of the Company has recommended a dividend proposal of $1.35 per share unit resulting in an overall cost of $1.147 billion, as compared with $985.8 million in 2019, an increase of $161.5 million or 16.4%.
Revenue generated by the Company was $30.468 billion compared to $29.597 billion in 2019, an increase of $871.0 million or 2.9%. $6.167 billion achieved in 2019, an increase of $1.162 billion or 18.8%, $5.271 billion, by $747.0 million or 16.5%.
Citizens Bank Guyana Inc.
The revenue of Citizens Bank Guyana Inc., a 51% owned subsidiary of the Company was $3.749 billion compared with $3.422 billion generated $1.673 billion compared to $1.599 billion in 2019, an increase of $74.0 $955.3 million, an increase of $26.9 million or 2.8%. Net Interest Income was $2.835 billion.
The earnings per share was $16.51, while the total asset base was $63.8 billion.
Banks Automotive and Services Inc.
Banks Automotive and Services Inc., a 100% owned subsidiary of the $8.6 million.
Dividends
unit which was paid on 28 May 2020. A second interim dividend of $0.30 per share unit was also paid on 26 October 2020, and now the Board of the overall dividend per share unit of $1.35 or an overall cost of $1.147 billion, an increase of $161.5 million or 16.4% over the previous year.
Reserves
transferred to Retained Earnings. After the payment of dividends, the Reserves at the 30 September 2020 is $41.237 billion.
Capital Expenditure
Investment in Capital Equipment, Plant and Machinery continued during the year under review.
We completed the relocation of our Liquor Warehouse, Raw Material Storage Bond and replacing/resurfacing Roofs around the Company.
New Dough Processing Equipment was installed to enhance the consistency of the quality of our various types of Biscuits, New Cone Baking Machine to increase the capacity of Cone Cup Production. There was the acquisition and installation of a New Rinser, Capper, Chiller, Motors, Pumps and Storage Tanks in our Rum Production Plant. Our Power Supply and Distribution was enhanced with the purchase of a New Cummins Generator, Transformers, and our Steam Generation capacity the Central Services’ Boilers.
New Forklifts and Sales Trucks were acquired to consolidate the Distribution Channels of our Products across the Country. There was also Coolers and Dispensers for our Rainforest, Aqua Mist and Tropical Mist Outlets. There was also the installation of New Computer Equipment and Software to improve our Information Processing Capability. completed in the new Financial Year.
These include the Beer and Soft Drink Plants’ Upgrades, CIP Plant for the Rum Factory, New Records’ Storage Facilities, New Truck Wash Facilities and continued construction Automotive and Services Inc., to be located at Demerara Park.
Extracted from the Chairman and Managing Director report
Clifford B. Reis Chairman and Managing Director
More information: https://www.banksdih.com/sites/default/files/Banks%20Annual%20Report%202020.pdf