The Demerara Distillers Limited Group registered after-tax profit of $4.789b for 2021, 23% or $896m above the previous year.
In his statement in the group’s 2021 annual report, Chairman Komal Samaroo also disclosed that for the first time ever, international revenues from branded products surpassed those from bulk rum.
“In 2021, international revenue from bulk rum products increased by 1 percent over the preceding year, while international revenue from sale of branded products increased by more than 25 percent. This is the first time, since the company entered the international branded products market thirty years ago, that sales revenue from branded products exceeded those from bulk products”, Samaroo said.
Group turnover for the year was more than $27.6b compared to $24.7b in the preceding year, a rise of 12%.
Earnings per share for 2021 were $6.22 compared with $5.06 the previous year.
Samaroo cited the clinching last year of Geographic Indication registration of Demerara Rum under the European Commission as a major development which will give Demerara Rum greater protection.
Samaroo said that an interim dividend of $0.40 per share was paid in November 2021 and the directors have recommended a final dividend of $1.15 per share which if approved will mean that $1.55 per share will be paid. In the previous year, the dividend totaled $1.25 per share.
The report also disclosed that in February, 2022, the board welcomed Major General (ret’d) Joseph Singh as a non-executive director.
Samaroo paid tribute to DDL Founding Chairman Yesu Persaud who passed away on January 17th this year at the age of 93.
“Dr Persaud was a dynamic and visionary leader. In the early formative years of this company, he saw opportunities which he pursued with forward looking strategies. He built alliances internationally and invested in training of local professionals, as he recognised that team effort was vital for progress”, Samaroo said.
DDL’s AGM will be held on Thursday May 12 at 4 pm at Lot 214 Camp Street.
