Banks DIH New Amsterdam records $45M profit

first_imgBanks DIH New Amsterdam outlet recorded $2.9 billion in sales last year, surpassing its 2017 sales by $214 million. The company also announced a $45 million profit in Berbice.A section of the shareholders at Sunday’s AGMThe announcement was made on Sunday during its Annual General Meeting (AGM) in Berbice, Region Six. Shareholders were told that for the period of October 1, 2017, to September 30, 2018, the branch sold 1,865,000 units of products, representing an increase of 88,000 units over the previous year.Branch Manager Ronald Mathews told the gathering that the Berbice Branch surpassed last year’s performance as a result of premium quality products by employing an efficient distribution service to customers and consumers.Mathews noted that the Demico Qik Serv in New Amsterdam also created a record despite the competition it faced.“The New Amsterdam Qik Serv Restaurant sold $115 million as compared to $108 million the previous year, representing a revenue growth $7 million thus attaining the Chairman’s Trophy for honourable mention.”Mathews praised the staff of that branch for the achievement. He referred to them as the company’s greatest asset.In 2017, the New Amsterdam Branch sold 1,600,011 items and recorded a profit of $13.7 million which was an increase of $8.5 million over 2016.Meanwhile, Chairman of the Board of Directors, Clifford Reis, acknowledged the efforts of the New Amsterdam Branch. Commending of the Berbice Branch’s performance, the Chairman noted that the profits recorded represent in excess of a fifty per cent increase from the previous year.Overall, Banks DIH recorded a profit of $4 billion. The group’s third-party revenue was $30.923 billion when compared with $30.006 billion in 2017, representing an increase of $9 million or 3 per cent. The trading profit from operations for the Group was $6.8 billion when compared with $6.196 billion achieved in 2017, representing an increase of $641.0 million or 10 per cent.Profit after tax attributable to the shareholders of the parent was $4.286 billion compared to $3.888 billion in 2017, an increase of $398 million.The value of shares increased from $34.33 to $40.15 which is an increase of 16 per cent over the year. Shareholders were given a dividend proposal of $1.10 per share representing $934.8 million. Revenue generated by the company was $27.863 billion compared to $26.548 billion in 2017, an increase of $1.315 billion or 5 per cent.Citizens Bank, which is a subsidiary of the company, recorded a before-tax profit of $1 billion. The after-tax profit was $602 million.According to Reis, within the year, the company examined and evaluated new business models which are compatible with its existing business model to create wealth and value for shareholders.“These new business models will bring into our existing business portfolio, a new generation of products and services which will foster job creation and added value.”“We continue to evaluate our traditional business model to create wealth for shareholders through the creation of new synergies, the implementation of finance and marketing initiatives and, continuing emphasis on cost reduction strategies.” He added.The company continued its tradition of presenting monetary donations to two schools – this time Winifred Gaskin Secondary and Number Five Primary School.last_img read more

New cell phone laws take effect Jan 1

first_imgThe use of two-way radios for commercial or industrial vehicles will be permitted. Drivers in Fort St. John have only three days to quit chatting while driving.On January 1st, police will be enforcing a new law, which prohibits anyone from talking on their handheld device while driving.Under the Motor Vehicle Act, drivers will be able to use hands-free cell phones that require only one touch to activate.- Advertisement -As of February 1, a driver talking on a hand-held phone or electronic device will be subject to a fine of $167.Drivers caught texting or emailing will be subject to three penalty points on their license. For new drivers in the Graduated Licensing Program, there will be a full ban on using all cell phone and electronic devices, including hands-free ones.Police, fire and ambulance personnel who may need to make calls in the performance of their duties, and motorists who need to call 9-1-1 are exempt from the legislation.Advertisementlast_img read more

Fearless Prithvi Shaw reminds Courtney Walsh of Sachin Tendulkar and Sunil Gavaskar

first_imgPrithvi Shaw lived up to the hype around him leading up to the Test match with a fantastic 134 off 154 balls as India dominated proceedings on Day 1 of the Rajkot Test versus West Indies.The moment it was announced that the 18-year-old will make his Test debut on Thursday, everyone from the media to the social media was abuzz with Shaw and how he has come through so far in his short cricketing career.And on Thursday, when the moment came, he showed why he deserved all the attention he was getting.Watch: Sunil Gavaskar on Prithvi ShawFrom back-foot punches to cover-drives, Shaw played every shot in his repertoire to woo the audience and show everyone around the world, why he is compared to Sachin Tendulkar on a regular basis.Also Read – Prithvi Shaw slams debut Test hundred: A look at all 15 debut centurions for IndiaAnother legend of the game threw his weight behind the astounding resemblance between Shaw and two of Mumbai’s and India’s finest batsmen ever.West Indies legend Courtney Walsh lauded the 18-year-old for his fearless brand of cricket and how he played his innings without being bogged down under pressure.Also Read – Prithvi Shaw: 1st man to hit hundreds on Ranji, Duleep Trophy and Test debut”I am sure the West Indies would be happy to see the back of him, but he played a tremendous innings, that knock was special. It reminded me of a few other Indian guys I have seen like Sunil [Gavaskar] and Sachin [Tendulkar] when they were young, probably because of his height and stature. He’s down there and he plays the cut shots pretty well,” Walsh told on ESPNCricinfo on Thursday.advertisementAlso Read – This one is for my dad: Prithvi Shaw dedicates debut hundred to his hero”Shaw has got good potential. He has shown that he is not afraid of playing his shots or his natural game which is good to see. You want to see more of that. Once he got off the mark, he felt comfortable and that he belonged to Test cricket. He showed that composure. He played some wonderful shots. He played and missed a couple of times, you going to get that, but at the end of the day, I think it was an innings he was very satisfied with,” Walsh added.Twitter applauds, @PrithviShaw reacts!Watch the youngster react to tweets from the legends of the game – by @28anandFull video (@BCCI) October 4, 2018Not only Walsh, Tendulkar and Gavaskar also praised the youngster for his extremely impressive show at the Saurashtra Cricket Association Stadium on Thursday.”Lovely to see such an attacking knock in your first innings, Prithvi Shaw! Continue batting fearlessly,” Tendulkar tweeted.Lovely to see such an attacking knock in your first innings, @prithvishaw! Continue batting fearlessly. #INDvWI Tendulkar (@sachin_rt) October 4, 2018″He (Shaw) showed he belonged to the Test level and the West Indies bowlers gave him some loose deliveries to get him going. It was a very good pitch to bat on but having said that, you still have to get runs and he did that in style,” Gavaskar told India Today.”His confidence level is very high. Rahul was at the other end… he had got a hundred in his previous Test at The Oval but Shaw took strike. He did not know how the pitch would behave or see how the bowlers were bowling. His confidence stood out,” Gavaskar added.Team India coach Ravi Shastri, who also happens to be from Mumbai, lauded the youngster for his fantastic show on his debut game.”Well played young man @PrithviShaw for a free and fearless performance on debut. A bit of Viru and the Master there,” Shastri tweeted.Take a bow, @PrithviShaw #INDvWI (@BCCI) October 4, 2018Shaw’s attacking display earned plaudits from everyone and definitely put him right up there in the probables for the four-match Test series against Australia, which starts on December 6 at Adelaide.The immediate challenge for the young man however, will be to pile on as many runs in as many opportunity he gets against a West Indies team that struggled to hurt the Indian batsman after the initial half hour of play on the first day of the series opener.last_img read more