Scores of shareholders and well-wishers turned out Friday at the Banks DIH annual shareholders meeting held at the beverage giant’s Linden branch.The highlight of the event was a moving address by Chairman of the company, Mr. Clifford Reis, who outlined many of the company’s achievements over the past year, but especially expressed the need to keep the Company’s products highly visible while maintaining the best quality.Shareholders at Saturday’s meetingHe also emphasized the need to ensure that customers receive value for money every time, in a highly competitive business environment.According to Reis, the revenue garnered from sales at the Linden Branch, over the past year, amounted to $850 mil. which he said was a lot of sales, and an increase of $30M over the previous year.He added that the ‘physical sales’ which passed through the branch was six hundred and sixty one thousand cases, which amounted to about 62,000 cases per month or approximately one thousand twelve hundred cases per day. As regards the company’s overall performance for the financial year ending September 2013 he pointed out,”My fellow shareholders, I am pleased to advise you that as a result of our comprehensive planning and management of resources, the overall performance of the group improved by achieving an operational profit before taxes of $5.340 billion, compared to $4.966 billion in the previous year, an increase of $374 million, and the profits after taxes for the group was improved, attributable to shareholders who would have increased from $2.812 billion to $2.930 billion,Wholesale Jerseys China, showing an increase of $118 million. The company’s profit, before taxes was $3.862 billion as compared to $3.700 billion an increase of $163 million.”Citizens Bank, a subsidiary of Banks DIH, has done very well in increasing its revenue, according to Reis. Those assets, he declared,Wholesale China NFL Jerseys, have increased by $3 billion.Meanwhile, Linden Branch Manager Shaundelle Easton, came in for high praise for the branch’s improved performance.‘Banks Country’Referring to the Company’s popular slogan “This is Banks Country”, which was conspicuously displayed around the venue,Cheap NFL Jerseys, Reis said that the intention behind the slogan was to make a statement about the strength and passion of the company’s relationship with the citizens of Guyana.But while the company’s 2013 profits exceeded that of the previous year, Reis said that the profits from the second part of the year were ‘disappointing.’“The results from the second half of the financial year were disappointing, meaning that set targets were not achieved. The reason for this are many and varied and shows that when the national economy slows up, everyone is affected, as reduced disposable income results in a reduction of spending power. Our company is not exempted from that reality.So our focus over the period ending September 30th , is the continuation of our recapitalization programme, to bring Banks DIH into the 21st century.“This situation now requires that we sharpen our focus on what needs to be done, and find new and more creative ways to reduce expenses and increase revenue.”Reis added that becoming despondent and discouraged and playing the blame game would not take the company out of ‘this environment of negativity.”He posited that the company’s focus this year is to keep its beer ‘brewery fresh.”He added,”We open the door to ‘outsiders’ whenever products are compromised, and a bad product enters the market place,Cheap Jerseys From China, which can translate to loss.“My fellow shareholders, nothing sells better than quality products. Consumers may be influenced by the questionable incentive of low prices and substandard quality, but nothing turns off the consumer than a product of bad quality or service, or both.”He alluded to what he called the ‘business version’ of the Ten Commandments, which has three easy to understand rules – revenue generation, cost reduction and profitability.“You ignore these, and you do so at your own peril,Cheap NFL Jerseys Online,” he admonished, and suggested a fourth commandment, which is that a successful businessman would consider and practice promoting and creating healthy relationships.He added that if a businessman fails to create and promote healthy relationships the other three ‘business commandments’ would not be achieved.Reis then reflected on the relationship between Banks and their shareholders over the past 58 years, and alluded to the benefits to shareholders and employees of the company, with many of the latter being afforded the opportunity of owning their own homes, and accessing higher education at the University of Guyana.He also addressed the issue of the recently launched GT beer, which he noted that some retailers are selling for $240 per bottle, while the stipulated price is $180 per bottle.There is no reason to sell the beer for $240 per bottle,Wholesale NFL Jerseys, he said,NFL Jerseys Supply, when at $180 per bottle everybody makes a tidy profit.Towards the end of the programme representatives from the Coomacka and Kimbia Primary Schools were presented with awards from the company, for their respective schools, and shareholders were presented with gifts. (Enid Joaquin)
