AS Demerara Tobacco Company Limited (DEMTOCO) celebrates its 90th anniversary, the company has singled out the positive efforts of the Private Sector Commission (PSC) of Guyana and the decisive steps taken in combatting illicit trade through the establishment of the Illicit Trade Desk initiative.

At its 91st Annual General Meeting, DEMTOCO’s Managing Director, Mr. Vijay Singh, thanked the PSC for its commitment to protecting the integrity of the local business environment.
“The establishment of the Illicit Trade Desk in 2024 marked a pivotal moment for the private sector. It demonstrated strategic leadership, uniting stakeholders across industries to address smuggling, counterfeiting, and unfair trade practices. We are proud to support such an initiative,” Mr. Singh was quoted as saying in a press release.

According to DEMTOCO, illicit trade remains a significant challenge across several sectors in Guyana, posing threats not only to legitimate businesses but also to public health and government revenue. DEMTOCO estimates that illicit tobacco products could cost the government over G$1 billion in lost tax revenue annually.

“DEMTOCO remains a corporate leader in responsible trade practices. The company continues through advocacy and collaboration with various authorities, to drive greater enforcement and awareness. The recent Illicit Trade Seminar—hosted by the Private Sector Commission and attended by senior government officials—is one such example of the cross-sectoral coordination needed to stamp out this issue,” the press release noted.

According to the release, beyond regulatory advocacy, DEMTOCO’s strategic direction remains anchored on four core pillars: Growth, Productivity, Sustainability, and building a Winning Organisation.

It was noted that in 2024, DEMTOCO recorded an impressive G$2.47 billion in profit after tax, reflecting an 8.6% year-over-year increase. Revenue grew by 4.2% to G$8.41 billion, an achievement underscored by a dynamic and strong portfolio of brands- Dunhill, Lucky Strike and Pall Mall as well as a consumer-focused strategy.

The company noted that this financial achievement is especially symbolic in a year that marked nine decades of excellence.
“Our 90th anniversary is not only a celebration of our legacy, but a reaffirmation of our purpose,” said Singh. “From our early beginnings to today, we have evolved with our consumers, our stakeholders, and the changing business landscape—anchored always by integrity, innovation, and a passion to win.”

As Guyana continues its trajectory of rapid economic expansion, DEMTOCO reaffirmed its commitment to contributing meaningfully to national development. “We are proud of our legacy and the role we continue to play in shaping a sustainable, transparent business environment in Guyana,” said Singh.