– accumulated deficit at $41B
GuySuCo’s dire financial situation was expressed in its 2015 annual report recently tabled in Parliament which cited an accumulated deficit of $41 billion at the end of the year and a loss of $1.9 billion which included the state subvention of $12 billion.
According to its Consolidated Statement, GuySuCo saw revenue of $21.4 billion for last year but the cost of its sales was $35 billion which left a gross loss of $13.6 billion. The gross loss in 2014 was $18.8 billion as a result of revenue of $23.1 billion and cost of sales of $41.9 billion.
Its operating loss for 2015 following its subvention was $902 million compared to $19.3 billion for 2014. Other expenses pushed the loss for 2015 to $1.9 billion compared to 2014.