Latest update January 30th, 2025 6:10 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Banks DIH chalks up $1.3 billion before tax profit at the end of March

May 22, 2010 News

Brewery giant Banks DIH Limited has chalked up profit amounting to $1.3 billion (before tax) six months into the company’s financial year.
According to chairman, Clifford Reis, the unaudited profit before tax for the company for the six months ended March 31, 2010, and profits showed $1.388 billion as against $1.033 billion achieved in 2009.
The company has also reported a 13.2 percent increase in its third party revenue for the half year ending March 31, last, with the Group recording $8.93 billion, as compared to $7.89 billion for the corresponding period in 2009.
The company, in a press release yesterday, said that the directors approved an interim dividend of $0.14 per share unit to be paid to all shareholders whose names appear on the register as at May 8, 2010.
This resulted in a dividend payment of $140 million in comparison to $120 million approved last year.
Citizen’s Bank Inc. achieved an unaudited profit after taxation of $261.0 million compared to $255.1 million in 2009.
Mr. Reis said that the improved results achieved by the Company in the first half of the year came mainly from increased dollar sales, physical growth in case sales, efficiencies derived from the restructuring of the Company’s operations and the agreement with the Guyana Revenue Authority (GRA) on the company’s approach to excise tax determination.
He cautioned: “The remaining six months will be challenging with the continuing effects of the Global Economic Crisis and the frequency of price increases for fuel. Nevertheless, the Directors are optimistic that the performance for the financial year 2010 will show an acceptable level of growth and will continue to improve shareholders’ value.”
Mr. Reis expressed appreciation to his fellow Directors for their support and guidance and thanked customers, shareholders and employees for their confidence placed in the Group.

Similar Articles

The Glenn Lall Show | January, 27th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Anna Regina Secondary reign supreme

Anna Regina Secondary reign supreme

Jan 30, 2025

-CNOOC Petroleum Guyana Limited GTTA/MOE Schools TT C/chips a resounding success Kaieteur Sports- The CNOOC Petroleum Guyana Limited (CPGL) Guyana Table Tennis Association (GTTA), Ministry of...
Read More
Fifties from Forde, Drakes, McCaskie give Barbados edge heading into Day 2 versus Eagles 

Fifties from Forde, Drakes, McCaskie give...

Jan 30, 2025

CANOC Executive Committee gathers in Guyana for pivotal Annual Retreat

CANOC Executive Committee gathers in Guyana for...

Jan 30, 2025

Dujon questions CWI over “surprise’ axing of coach Coley

Dujon questions CWI over “surprise’...

Jan 30, 2025

Wills, Bahabur, Johnson shine at GTTA Novice Championship

Wills, Bahabur, Johnson shine at GTTA Novice...

Jan 30, 2025

Guyanese boxers shine at T&T National Boxing Championships

Guyanese boxers shine at T&T National Boxing...

Jan 29, 2025

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]