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Businessuite 2022 Top Guyana Company – US$ Profit After Tax |
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US$000 |
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US$000 |
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GY |
Banks DIH Ltd. |
$38,448 |
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$29,558 |
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.
In the final analysis, success comes down to how hard you work and the effort you are prepared to expend to achieve the goal. The dream of success drives athletes to go beyond their own limits, it drives scientists to expend countless hours on experiments and research; it drives businessmen to innovate and regularly refresh their business models. Success is what motivates humans and moves us forward and is what can be described as the fuel of humanity. Even though it was not described or understood in the same way, success was important to our cavemen ancestors. It still is important to us in this age and will be equally important as we journey together into the future.
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%.
Future Outlook
My Fellow Shareholders, as we look to the future, perhaps it is apposite to ask the question in paraphrase of ourselves and our Company as we look to the new year ahead. “Where are we going?” The global reality of a disrupted supply chain and its consequences will impact everyone regardless of where we may be. My Fellow Shareholders, of the many lessons learnt from this experience, one stands out and bears being repeated.
We must remain positive and committed to the words of our Mission Statement that we are committed to building on our traditions of excellence by providing quality products and services. We will remain committed to achieving those goals which are supported by the platforms of our core competencies. My Fellow Shareholders, you will recall that the Board of Directors approved last financial year a modification to the Company’s business model.
Our most recent addition to the Group, Banks Automotive and Services Inc., will be the division to lead in the development of our future solar power and automotive initiatives, to add value for shareholders and investors.
Clifford Barrington Reis Chairman and Managing Director
https://www.banksdih.com/sites/default/files/document/Banks%20Annual%20Report%202021.pdf