DDL profits up by 35%

Yesu Persaud

Demerara Distillers Ltd Group registered a 35% increase in profit for 2011 over the preceding year primarily due to what the company said was efficiency gains and a $288M dividend from BEV Processors Inc prior to the sale of the investment.

DDL is to hold its Annual General Meeting on April 27 at its complex at Plantation Diamond at 4.30 pm. The company paid an interim dividend of $0.12 per share and a final dividend  of $0.36 is being  recommended at the AGM.

In what was described as a challenging year for the company, DDL Chairman Yesu Persaud in his report said that the group’s turnover rose by 6% from $13.7B in 2010 to $14.6B last year and comprehensive income grew