National printers registers profit of $487,000 for 2012

The Guyana National Printers Limited (GNPL) registered an after-tax profit $487,000 for 2012, far below the $5.1m figure for 2011.

The 2012 annual report was tabled in Parliament last month and the notes to the account state that GNPL is one of the companies listed by the government for privatization.

A qualified opinion was given to the accounts by chartered accountants Maurice Solomon and Co. as the requisite information on the company’s defined benefit pension plan was not provided. Except for this, the auditors found that the financial statements gave a true and fair view of the position of the company. The auditors’ opinion was endorsed by the Office of the Auditor General.

The annual report said that the company’s turnover rose by $50.6M from $237.3M in 2011 to $287.9M in 2012. A pre-tax profit of $3.3M was registered in 2012 compared to $9M in the previous year. The 6.3% increase in the cost of materials for the manufacture of exercise books was the key for the rise in the cost of sales.

Earnings per share amounted to $1.77 in 2011 compared with $18.11 in 2012.

No dividends were paid in 2012.

The accounts also reveal that GNPL received a $25.8M loan from the Ministry of Finance, the terms and conditions of which are yet to be finalized even though the loan is recorded at least as far back as the

2011 accounts.

The state-owned GNPL was incorporated in May 1976.  It says its mission in part is to “Consistently deliver the finest quality commercial packaging and printing with exceptional value on time, every time…”


More in Local News


About these comments

The comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit or delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity.

Get the day's headlines from SN in your inbox every morning:

Most Read This Week

  1. Back in court: In this Keno George composite photo, Barry Dataram (left) and his wife Anjanie Boodnarine at court yesterday to answer three charges including fleeing the jurisdiction.

    Dataram to serve eight years in jail after guilty plea to new charges

  2. Yansen Brusche

    Ulverston mom of four stabbed to death by children’s father

  3. Ameer Abdool Subrati

    Man dies after bandits target overseas-based couple at Herstelling

  4. US Ambassador Perry Holloway and Finance Minister Winston Jordan shake hands after the signing of the agreement yesterday.

    Guyana inks pact for reporting to IRS on holdings of US citizens

  5. Fast food lovers inside KFC yesterday

    KFC back in business

  6. Updated: Man dies after bandits attack overseas-based Guyanese at Herstelling

  7. Barry Dataram

    Datarams getaway passports had been issued to other people

  8. Bharrat Jagdeo

    Crime has never been this bad – Jagdeo

  9. Cops grilling taxi driver after passenger robbed of $6M on seawall

Recommended For You