BANKS DIH Airy Hall Branch, Region Two has again made a handsome profit and branch manager Premaul Ritney has been rewarded with the chairman’s award.

Addressing hundreds of shareholders and members of the business community at the company’s 63rdAnnual General Meeting (AGM) last Sunday, Chairman of Banks DIH, Clifford Reis, said the branch continues to earn massive profits despite various challenges.
“The profits are astonishing and I therefore would like to commend the Essequibo team for the job well done,” Reis said, to loud applause from the gathering.

Speaking on the branch’s performance for the financial year 2017-2018, the chairman said he is impressed with the profit earned.

In 2018, Banks generated $1,541,195,635 in revenues compared to $1,366,499,563 earned in 2017.
“Profit after tax for 2017 for the branch was $18,044,017 and in 2018 was $30,441,275, an actual increase of $12,397,558 or a 68.7 per cent increase,” Reis told the gathering.
Speaking on the number of units of products the branch sold, the chairman said for 2017, the physical sales were 842,049 units while in 2018, the branch sold 952,967 units, an increase of 13.2 per cent.

Notably, the branch had an increase in sales for Vita Malta, Guinness Stout, soft drinks, wine, bread, biscuits and ice-cream as compared to 2017.
“Other branches of Banks DIH are nowhere close to these sales and profit and I must commend the branch manager for the excellent job done at the branch,” the chairman said.

The company is also looking at improving services in the region.  Newly-appointed Manager, Premaul Ritney, said he was happy with the team work of the company.
And on that note, he thanked all the customers and dealers for their commitment to Banks’ products over the year.

During the AGM, two primary schools were provided with a cheque for future development. Those schools were Arthville Primary from Wakenaam Island and Charity Primary from Region Two. The schools will use the money to further develop and enhance their school environment.