DDL Group records $1.9B profit before Interest, Tax


–          marks 9.8% increase from 2008
–          Komal Samaroo honoured for 40 years service

Demerara Distillers Limited (DDL), world renowned for its El Dorado Rums, recorded $1.971 billion profit before interest and taxation for 2009 which marks a 9.8% increase compared to 2008.
This was highlighted yesterday at the company’s 58th Annual General Meeting held at Diamond, East Bank Demerara. Shareholders were updated on the company’s performance during 2009 which saw DDL’s yearly turnover reaching $8.371 billion compared to $8.821 billion in 2008.
The company’s profit before interest and taxation was $1.762 billion compared with $1.682 billion in 2008 and profit after taxation was $809 million as against $789 million in 2008.
The Group’s (DDL and its subsidiaries) turnover increased by 2.5 percent from $12.064 billion in 2008 to $12.364 billion in 2009.
The Chairman in his remarks said that in the context of the extremely challenging international and regional environment, the Group had a relatively good year recording profits before interests and taxation of $2.165 billion compared to $1.971 billion in 2008, a 9.8 percent increase.
In excess of 2,000 shareholders participated in this year’s AGM and were witnesses to an award ceremony which honoured the company’s long-standing employees for their years of service and sterling contribution to the growth and development of the company.
A statement on the AGM from advertising agency, Tagman Inc, also indicated that DDL’s Vice President – International Marketing Komal Samaroo received an award for 40 years of service to the company.
Cyril Mc Garrell and Lanroy Hudson were each honoured for 35 years of service while Bibi Khouri and Marlon Blake received awards for serving the company for 30 years. Several other employees received awards for service in the 25, 20 and 15 years categories.