The Demerara Tobacco Company Limited (Demtoco) registered a before-tax profit of almost $2.8B for 2016, representing a slight decline from the previous year.
This was disclosed on Wednesday by Chairman of the Board of Directors Felicio Ferraz during the company’s 83rd Annual General Meeting, which was held at the Pegasus Hotel.
According to Ferraz, though the company was faced with challenges common to those encountered by other business entities within the private sector, it was able to deliver a profit before tax of $2,786, 972,000, representing a decline from the before tax profit of $2,851,375 recorded in 2015. The company’s after-tax profit for 2016 was $1,560,262,000, compared with $1,606,534,000 in 2015.
In terms of income distribution, 46%
