Latest update April 23rd, 2024 12:59 AM
Jan 20, 2015 News
Brewery Giant Banks DIH is reporting that in 2014 the Company’s after tax profit was $2.2 billion as compared to profit before tax of $3.8 billion and profit after tax of $2.5 billion achieved in 2013.
The Net Asset Value per share has increased from $21.55 to $23.20 by eight per cent and the Company has maintained the dividend payment of $0.64 per share with the overall cost being $640M.
Chairman and Director of Banks DIH, Clifford Reis credited this achievement to comprehensive planning and prudent management of resources.
In the company’s annual report, which will be released to shareholders Saturday, he said the Company continued its policy decision to replace and upgrade its production capacity through the installation of state of the art manufacturing plant and machinery; that enhance its core competencies which will result in long term competitive advantage with regards to the conversion of raw materials into quality fresh, finished products.
“During the financial year we were able to complete the Brewery and Cellars modernisation programme and the commissioning of the palletiser/depalletiser as well as a new pasteuriser for the Beer Plant.
Other projects that were started in the previous financial year and are now completed, include the commissioning of a new 1.7 MW Hyundai electrical power generating set, an 800 HP Cleaver Brooks boiler, a CO2 Recovery and Storage systems and High Pressure Air Compressor.
The restaurant production capacity was enhanced through the acquisition of additional restaurant equipment and the distribution and warehousing capacity were improved with the purchase of additional trucks and forklifts.
The Chairman explained that in the new financial year, major capital expenditure will focus on the acquisition and installation of a new Trisco biscuit oven, an on-line blow moulder for the Water Plant, the construction of a new Vehicle Workshop, the completion of Creme Select Ice-cream Outlet and further replacement of trucks and forklifts.
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