DDL Group records $2.2B Profit After Taxation for 1st half of 2025

– Chairman cites adverse effects of US-imposed tariffs on markets

Local beverage giant, Demerara Distillers Limited (DDL) has reported a Profit After Taxation to the tune of $2.202 billion for the first half of this year. This figure represents an increase of $101 million when compared to the $2.101 billion that was recorded during the same period in 2024. As it relates to Profit Before Taxation, the Group registered $2.962 billion during the first six months of the 2025 financial year, representing a growth of $117 million or four per cent over the $2.845 billion earned for the same period in the previous year. Moreover, the Group’s Turnover for the first half-year in 2025 was levelled at $14.585 billion, which was marginally ahead by $128 million, compared to a Turnover of $14,457 billion achieved for the same period in 2024. It was further reported that Turnover in the domestic market grew by almost 4 per cent, while Turnover in international markets declined by approximately 10 per cent.

Tariff uncertainty
The figures were reported by the Chairman of the DDL Group, Komal Samaroo, in his mid-year results for the period ended June 30, 2025.
In presenting the Group’s Interim Report 2025, which was published in the Sunday edition of Guyana Times, the Chairman noted that these results for the first half of the year came amid elevated uncertainty in international markets because of the implementation of the new tariff policy in the United States (US).
Back in April, a country specific tariff applicable to Guyana’s exports to the US was raised to a whopping 38 per cent, however, this was subsequently reduced to 15 per cent, following negotiations between the US and Guyana. But according to Samaroo, even the 15 per cent tariff rate is higher than the minimum 10 per cent that applies to exports to the US from most of DDL’s competitors in the region and elsewhere. “The war in Ukraine, combined with the ongoing uncertainty about tariffs on European-manufactured exports to the United States, continued to have adverse economic effects in European markets, including a decline in consumer spending, particularly, in the premium and super premium segments of Europe’s spirits market,” he stated. The Chairman added, however, that “The Group will continue to pursue a strategy of widening as well as diversifying its international markets in the future.”

DSL branch in Lethem
Nevertheless, Samaroo went on to highlight some of the significant progress that were made in advancing several major capital projects undertaken by the Group during the reporting period. These include the newly remodelled and upgraded building on High Street, Kingston, Georgetown, housing the World Trade Centre (WTC) Georgetown, which was officially commissioned in June. The Chairman stated that plans are afoot to officially launch the WTC Georgetown trade services and activities in October 2025. Also, during the last quarter of this year, Samaroo said the expansion of the Beverage Production Operations will be completed.
The DDL Group is also expanding its Distribution Services Limited (DSL) operations to Region Nine (Upper Takutu-Upper Essequibo). Samaroo indicated that, “A DSL Lethem Branch, currently under construction, is also scheduled to be completed at the end of this year and will enhance the Group’s presence in Region Nine.”
Another project that made “good progress” during the reporting period is the Demerara Dairy Project and according to the Chairman, this facility is scheduled for completion in the first half of 2026. In addition, the ongoing rehabilitation and upgrade of the Demerara Shipping Wharf facilities recommenced this year and is scheduled for full completion next year. The Chairman ended his report by thanking all staff members for their continued commitment and hard work as they implement the goals of expansion and diversification in pursuit of the Group’s growth strategy. He also expressed gratitude to the Board of Directors for their continued support, guidance and advice. This 2025 interim report comes nearly one year after the Group experienced a major setback to primary operations at the Great Diamond, East Bank Demerara (EBD) distillery. On September 27, 2024, DDL’s Central Power Station, which housed seven generators that had been the sole source of power supply to most of its manufacturing units and corporate services, was destroyed by fire. Temporary energy solutions were expeditiously deployed to restart some of the Group’s operations and minimise business interruption as far as possible pending medium and long-term power solutions for the Group’s Beverage Operations to be activated. Despite the quick action by management to minimise impact, the fire resulted in a significant shortage of beverage supply to the market which, in turn, adversely impacted revenue in the last quarter of 2024.
Nonetheless, to overcome all challenges within its control, the Group had implemented a medium-term plan for sustainable and reliable power to its operations while simultaneously reviewing the long-term energy strategy including alternative sources of energy. Despite this and other challenges encountered last year, the Group still managed to achieve a Turnover of $30.8 billion in 2024, compared to $33.3 billion in the preceding year – a decline of $2.5 billion or 7.5 per cent. Chairman Samaroo had disclosed in the Group’s 2024 end-of-year report that the Profit before taxation increased, albeit marginally, to $8.0 billion compared to $7.7 billion, a growth of just over $0.3 billion or just over 4 per cent.
However, Profit after tax for the year reduced marginally to $5.824 billion compared to just below $5.969 billion in 2023 on account of higher taxation.