Home News Banks DIH Linden Branch records 4.2% increase in sales
The Linden Branch of beverage giant, Banks DIH Limited has performed “creditably” over the past fiscal year ending September 2018, officials announced on Friday during the company’s 63rd Annual General Members Meeting (AGM) held at the Region 10 (Upper Demerara-Berbice) location.
The Meeting was hosted under the theme, “The winning team; Celebrating People, Inspiring Greatness.”
In her report on the branch’s performance for the fiscal year, Branch Manager Shaundell Easton praised its performance, noting that it achieved a total sale of $1,123,806,988 which is a 4.2 per cent increase from the previous year.
Easton also pointed to the branch’s physical case sales of seven hundred and forty-two thousand, six hundred and seventy-six cases, noting that it was a slight decline of 1.7 per cent when compared to the previous year.
The Branch Manager added that the company remains committed to building community relationships, through sports, education and entertainment.
Meanwhile, Chairman Clifford Reis in commenting on the branch’s performance of the company over the past year, congratulated Easton and her staff, noting that she has increased profits by 75 per cent. Reis said the Linden Branch of Citizens Bank has also had a good year, recording significant profits for the financial year. He congratulated Branch Manager Lytton Thompson and staff on the achievement.
“During the financial year…the total revenue of the Linden Branch increased by 8.6 million, while the customers’ deposits at this branch now stands at 1.1 billion dollars”, Reis boasted. The Chairman added that the branch of the bank has also handed out $82 million in loans over the fiscal year.
Reis said the company will be offering a scholarship to a successful Linden student to pursue studies at the University of Guyana.
“Your company is offering a scholarship to any student from the Linden area… if they want to study Marketing at the University of Guyana. They’d be given a scholarship for four years and when they’re finished they have to work with us… We have the funds now to put you into University so you can get a Marketing Degree and come back and work with the Linden branch,” he said.
The Chairman also provided the overall performance of the company, noting its continued commitment.
“Banks DIH Limited, your company, continues to be managed and guided by the principles of sustainability and accountability so as to ensure that the best interest of our shareholders…and to reduce or eliminate any impact which our operations may have on the environment and the communities within which we conduct our business activities”, he said.
The company also awarded the Coomacka and Silver Hill Primary schools and the team leader of the region’s nationals team for winning the championships.