|
|
|
|
|
|
Businessuite 2023 #1 Guyana Company – US$ Profit after Tax |
|
|
|
GY |
GY |
GY |
GY |
GY |
|
|
US$000 |
|
US$000 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Company |
2022 |
|
2021 |
1 |
1 |
1 |
1 |
1 |
GY |
Banks DIH Ltd. |
$36,445 |
|
$38,448 |
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 & Profit for the Group
The Groups third party revenue was $44,459 billion compared to $39,807 billion 2021, representing an increase of $4,652 billion or 11.7%.
The Profit before Tax for the Group was $13,398 billion when compared with $11,078 billion achieved in 2021, representing an increase of S2.320 billion or 20.9%.
Profit after Tax attributable to the Shareholders of the Parent Company was $8,395 billion compared to $7,170 billion in 2021, an increase of $1,225 billion or 17.1%.
The Group’s Net Asset Value per share increased from $58.87 to $67.80 by 15.2%. The Board of Directors of the Company has recommended a dividend proposal of $2.00 per share resulting in an overall cost of $1.700 billion, as compared with $1.445 billion in 2021, an increase of $255 million or17.6%.
Revenue & Profit for the Company
Revenue generated by the Company was $39,653 billion compared to $35,858 billion 2021, an increase of $3,795 billion or 10.6%.
The Profit before Tax for the Company was $10,506 billion compared to $9,439 billion achieved m 2021, an increase of $1,067 billion or 11.3%, while the Profit after Tax for the Company increased from $6,777 billion to $7,589 billion by$812 million or 12%.
Citizens Bank Guyana Inc.
The revenue of Citizens Bank Guyana Inc., a 51% owned subsidiary of the Company was $4 847 billion compared with $3,949 billion generated in 2021, an increase of $898 million or 22.7%.
The Profit before Tax was $3,001 billion compared to $1,782 billion in 2021, an increase of $1,219 billion or68.4%, while Profit after Tax was $1,800 billion compared to $1,056 billion, an increase of $744 million or 70.5%.
Net Interest Income was $3,577 billion.
The earnings per share was $30.26 while total asset base was $84.70 billion.
Loan Assets were increased from $33.8 billion to $38.2 billion, by 13% or $4.4 billion.
Banks Automotive and Services Inc.
Banks Automotive and Services Inc., a 100% owned subsidiary of the Company generated revenues of $117.0 million compared to $57.5 million in 2021, an increase of $59.5 million or 103.5%. The Profit before Tax increase of $3.2 million or118.5%.
The sum of $8,395 billion profit attributable to shareholders has been transferred to retained earnings. After the payment of dividends, the Reserves at the 30 September 2022 is $55,607 billion.
Capital Expenditure
In the year 2022, the Group’s spending on Capital works amounted to $6,854 billion which included upgrades to the Syrup Room, Brewery Expansion, Rum Plant C.I.P System and Carbon Filter Columns, New Five Gallon Water Plant, Trisco Snack Line, New CO2 Plant, the acquisition of a New Storage Bond, Upgrade of Power Supply including Solar Panels, Trucks, Forklifts, Coolers and Freezers and Management Information System Upgrades.
The Group’s capital commitment authorised for FY 2023 is $11.110 billion of which $9,841 billion relates to Banks DIH Limited.
Clifford Barrington Reis, CCH.
Chairman/Managing Director
For More Information CLICK THIS LINK