Declaring 2023 a successful year of growth albeit the challenges, the Demerara Distillers Limited has reported after tax profits of nearly $6 billion; 12%higher than 2022.
“The group’s profit before taxation for the year was $7.674 billion compared to $7.086 billion in 2022. This represents an increase of $588 million or just over 8% above the previous year. Profit after taxation for the year was $5.969 billion, an increase of 12% or $648 million over the previous year’s $5.321 billion,” the company stated in its annual report sent to shareholders.
DDL shared that the group’s turnover for the year was approximately $33.3 billion and this represented an increase of $1.9 billion or 6% over the comparative 2022 turnover of $31.4 billion
International revenue in the year, the company said, grew 3% over that of the previous year despite the challenges faced. In addition, domestic revenue increased by 7% over that of the previous year.