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Banks DIH Linden Branch records $1.8B in sales

Feb 08, 2018 News

Under the theme ‘Foundation for Growth’, Linden Branch of Banks DIH Limited held its 62nd Annual General Meeting last Friday at the Company’s branch in Linden.
Manager of the Linden Branch, Shondell Easton, said that for the year in review, the branch performed creditably achieving total sales of $1.8B, an increase of 2.4 %, and on the physical case sales, a total of 736,914 cases of product an increase of 3.4%.
Ms Easton thanked her customers for their support and said she looks forward for their continued support as they commit to building their relationship through sports, education and entertainment.
Banks DIH Chairman, Clifford Reis, told the shareholders that for the period ending September 30, 2017, there were excellent results.
In 2017, Linden has achieved so much because of the relationship built with the community; the profits have been increased by $5M, an increase of 37% over the previous year.
Over the year, the focus was on building foundation for growth strengthening relationships as there is a wide cross section of businesses in various sizes.
It requires skill, dedication and an adaptable workforce.
“We will now have a deep and sincere appreciation and value for our relationships which will be sustaining and lasting, because we are not all called to be perfect but to be consistent with the understanding that through consistency perfection can be attained.”
Reis said that the company recorded an increase of $1.3B or 4%. The overall profit was $6.2B compared to $5.1B an increase of $1.1B or 22%.
The Chairman said that Banks DIH received price reduction in certain raw materials such as sugar. “Our company weathered the effects of the artificial increase of foreign increase rates which affected the acquisition of packaging and processing of the raw materials and the availability of capital equipment.”
Reis also noted that the company did a good job on the recapitalisation programme by extending the warehouse, purchasing a new generator, new bottling plant, new packaging equipment for the Trisco product and purchasing of handheld devices for the sales department.
Citizen’s Bank, Linden Branch
According to the Chairman, Citizen’s Bank, Linden Branch recorded an increase of 8% in revenue. The profit before tax is $1.2B compared to $759M the previous year, an increase of $248M or 51.8%.
The chairman said that the total asset base is $49.9B and customers deposit is $41B.
The Chairman took the opportunity to announce that Deashana Skeete ‘The Golden Girl’ as he described her, is the new Ambassador for the Company.
Daeshanna Skeete won the South American 400-meter Gold. She also won three gold medals and two silver medals at the Inter Guiana Games.
He said that she will not be advertising alcoholic beverages. She would be the ambassador for soft drinks and more often water. She will be given a stipend.
She was presented with an IPAD.
Christianburg Primary School and Republic Avenue Nursery School were recipients of monetary donations on the occasion of the Annual General Meeting.

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