Jun 08, 2019 News Comments Off on DEMTOCO rakes in $2.9B in profits despite tougher tobacco regulations
The Demerara Tobacco Company which is charged with providing marketing support to the British American Tobacco Group brands sold in Guyana recently recorded $2.9 billion in pre-tax profits.
According to the company’s annual report for 2018, this represents a significant 14.4% increase compared to the year 2017, and the highest growth in profits for the company in five years.
In addition, the company’s shareholder value was demonstrated by a 16.3% growth in earnings per share over the prior year.
This is despite the tougher tobacco regulations that have been set out across the country.
The Tobacco Control Act of 2017 is an international public health treaty and a guiding framework for the global fight against the tobacco epidemic. The National Tobacco Act enacted in Guyana mandates the adoption and the implementation of a series of tobacco control policies that make it one of the most complete tobacco control laws.
Those laws are as follows; One-hundred percent smoke free environments in all indoor public spaces, indoor work spaces, public transportation and specified outdoor spaces to protect people from exposure to tobacco smoke; a ban on all forms of advertising, promotion and sponsorship of tobacco products; health warnings featured on 60% of tobacco product packaging, including images; a ban on sale of tobacco products to and by minors; prohibition on vending machines sales; and a ban on the manufacture and sales of toys and candies, and any other goods in the form of tobacco products.
Director of the Department of Non-communicable Diseases and Mental Health of the Pan American Health Organization (PAHO), Dr. Anselm Hennis, stated, “The adoption of this Bill is not only a milestone for public health in Guyana; it is a tremendous advance for the Caribbean Community (CARICOM) and the entire Region of the Americas.
“This achievement is a powerful demonstration of the critical importance of political leadership to protect the health of every citizen.”
According to PASHO, tobacco is responsible for seven million deaths per year worldwide. This includes 900,000 persons who die from diseases related to exposure to tobacco smoke.
If current trends continue, tobacco will kill ten million people per year by 2020. Seventy percent of these fatalities will occur in less-developed and emerging nations. Over fifteen percent of the adult population currently smokes and more worryingly, the results of a Global Youth Tobacco Survey conducted in 2015 revealed that 14.8% of adolescents aged between thirteen and fifteen years also use tobacco.
Sep 22, 2020By Calvin Chapman At just 15-years-old, Forgotten Youth Foundation’s Alesha Jackman is already a Caribbean champion and is on the right track in achieving her dreams of following in the footsteps...
Transparency Institute of Guyana (TIGI) has published a letter on me in the Sunday edition of the Stabroek News. The statement... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.
Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]