DEMERARA Distillers Limited (DDL) has posted an after-tax profit of $2.202 billion for the first half of 2025, reflecting a five per cent increase compared to the $2.101 billion recorded for the same period in 2024.

Chairman Komal Samaroo, in the group’s interim 2025 report to shareholders, said the Group achieved a profit before taxation of $2.962 billion, representing a four per cent rise over the $2.845 billion earned in the corresponding period last year.

Turnover for the first half of 2025 stood at $14.585 billion, marginally higher than the $14.457 billion achieved in 2024. Samaroo noted that domestic sales grew by almost four per cent, while turnover in international markets fell by approximately 10 per cent.

According to the Chairman, the company’s international operations were affected by heightened uncertainty in global markets. A new tariff policy implemented by the United States in April placed a 38 per cent country-specific tariff on Guyana’s exports, which was later reduced to 15 per cent following negotiations. However, he pointed out that this remains above the 10 per cent minimum rate applicable to most of DDL’s regional and global competitors.

The war in Ukraine and ongoing uncertainty over tariffs on European-manufactured exports to the U.S. also weighed on consumer spending, particularly in Europe’s premium and super-premium spirits segments. Samaroo said the Group would continue to pursue a strategy of widening and diversifying its international markets.

Despite this, DDL advanced several major capital projects during the period. On June 20, the company commissioned the remodelled and upgraded World Trade Centre Georgetown building, with plans to officially launch trade services there in October. Work is also progressing on the expansion of the Beverage Production Operations, scheduled for completion in the last quarter of 2025, and on a new branch in Lethem, set to be completed by year-end.

Meanwhile, the Demerara Dairy Project remains on track for completion in the first half of 2026, and rehabilitation of the Demerara Shipping Wharf facilities has resumed, with full completion expected next year.

Samaroo expressed appreciation to staff and the Board of Directors for their contributions to the Group’s ongoing expansion and diversification efforts.