Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698075093729.pdf (Guyana)
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I ,/ Demerara now include the year under review, exchange.

Rum being exported markets, the U.K., Western Europe, North America and CARICOM.
In to one of the many overseas which export liquor sales generated $13.2M in foreign GUrANA llfOJUOR CORPa l ro CHAIRMAN'S REPORT Cont'd and the Companies have therefore characteristic Market and are gearing cations, the performance their efforts in 1977 should surpass been analysing Market.

to suit the particular previous years.


indi­ From all each individual In CAR ICOM, International our International of increasing exchange Brands - Smirnoff, our export performance Brands hold the dominant Booth's, Gilbey's, in this area and thereby position and in th'e Market, give us a great opportunity boosting earnings.

foreign CONSOUDATED ACCOUNTS: The Consolidated Profit of $1.557M, the Profit for the period was $3.315M, and after deducting taxation After Tax was $1.758M, made up as follows: D.L.L.
G.D.L.

D.D.L.TOTAL $000: $000: $000: $000: before Profit Taxation tax 1,075 545 1,778 803 462 3,315 209 1,557 Profit After Tax 530 ===== ----- ==== ----- 975 253 1,758 RETURN ON CAPITAL EMPLOYED: The Return on net Assets Employed was 32.4% and on gross assets was 10.7%.

DIVIDENDS: The total Dividends sum $806,952 was paid to the State.
paid by the operating Companies totalled $1,057,500, of which TAXAT-IONWDUTY ,.,CONSUMPTION TAX: y , Companies The operating and Consumption Tax in the period, gives a total direct contribut paid to the State $16.4M in Company Taxes, Excise Duty of $.SM which when added to the dividend ion to the State of $17 .2M.
RESEARCH & DEVELOPMENT: have also been actively examining in the design and implementation by the Corporation, of the capital pro­ within the personnel technical to involvement In addition grammes being undertaken Corporation range can be expanded and Further, considerable facturing Industry.

saleable time and effort areas which parallel The areas on which particular emphasis by-products have been spent on research into areas in which the basic product of the distill produced.
new manu­ up over the years within the ing Industry the expertise built has been placed, are as follows:- 1.

Expansion of the existing basic range of alcohol with the beverages introduction of new gin flavours, vodkas and liqueurs.

2.

The production Markets.

continental of high ester type rums for the German and other 3.

The manufacture of power alcohol for automotive use.

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These rums are subsequently used for the Company's well-known El Dorado range of rums distributed on the local and Caricom markets, and for the Company's brands in Canada and Europe.

GDL is noted, not only for its high quality rums, but also for its range of London Dry Gins.
The Gin Still is by far the largest in the Caricom region.

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\ Molasses pasteurisation various sugar factories, the quality molasses Caribbean.

and clarifi cation.

Molasses as supplied by the contain many impurities which can affect of the end product.
GD L has one of the most sophisticated clarification, pasteurisation and yeast recovery facilities in the • C, Sophisticated modern Stills require careful control in order to produce the products for which Guyana is famous and routine operating adjustments are essential.

As the bulk of the equipment used in the distilleries is imported from 4,000to 5,000 miles away, it is compulsary that each distillery has well equipped maintenance facilities.

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� -· ·- 17\ Accurate measurement of the sugar concentration in fermenting molasses is important if optimum fermentation results are to be obtained and routine tests are regularly carried out.

When masters are at work they need the support of a good gin - Gilbeys, produced and bottled by Diamond Liquors Ltd. a Accurate quality control procedures are essential if the standard of Demerara Rums fa to be maintain-eel and improved.
The gas chromatograph equipment at Diamond Distillery is an important tool in achieving this objective.

Wherever drinking look for something Richemond crowds are gathered, that stands out - Brandy.

Richemond is one of a range of brandies blended and bottled . }
for the Guyana and Caricom markets by Diamond Liquors Ltd. GUYANA l/OUOR CORP. l TD CONSOL/DA TED BALANCE SHEET AT 31 DECEMBER, 1976 FIXED ASSETS INVESTMENTS CURRENT ASSETS Notes on Page 25 6 7 $000 $000 14,526 24 and Stocks, unsold produce ogress work-in-pr prepayments Debtors and Cash on hand and at bank Less: CURRENT LIABILITIES Creditors Bank loans due in 1977 Taxation Dividend proposed Bank overdraft 9 NET CURRENT ASSETS FORMATION EXPENSES 11,632 4,476 � 16,538 5,933 590 1,404 637 2,391 10,955 FINANCED BY: Share Capital: authorised 8,123,284 ordinary at $1 each shares and fully paid reserves Issued Capital Retained earnings 8 SHAREHOLDERS FUNDS taxation Deferred Bank loans due after 1977 9 Provision for pensions Minority interests 5,583 35 20,168 8,123 5,714 3,975 540 10,229 653 5,922 � 16,886 3,282 20,168 GUYANA l/OUOR CORP. LTD BALANCE SHEET AS AT 31 DECEMBER, 1976 FIXED ASSETS $000 $000 $000 Work-in-progress 76 INVESTMENTS AT COST Shares in Diamond Liquors Ltd. Shares in Guyana Distilleries Ltd. 2,600 3,114 5,714 CURRENT ASSETS Dividends Cash at bank from GDL receivable Less: CURRENT LIABILITIES Creditors Dividends proposed FORMATION EXPENSES FINANCED BY: 396 257 653 2 637 639 8,123,284 Share Capital: authorised at $1 each Issued & fully Balancei: paid 5,713,543 - with subsidiaries ordinary at $1 each shares Ltd. Guyana Distilleries Ltd. Diamond Liquors 49 � Y Persaud RD Webster Directors 23 14 35 � 8,123 = 5,714 125 5,839 GUYANA l/OUOR CORP. l TD NOTES TO THE ACCOUNTS Cont'd 6.
Fixed Assets Cost or valuation Expenditure at beginning Land & Buildings Plant Machinery $000 8,061 330 8,391 & Equipment Total $000 $000 9,335 17,396 1,498 10,833 19,224 1,828 depreciation Accumulated Transfer Transfer from P & L account from capital reserves 369 at beginning 82 -1£ 3,402 3,771 769 851 76 527 4,171 4,698 7,864 --- 6,662 --- 14,526 --- 7.

Investments Cost $000 value at Market 31 Dec. 1976 $000 960 ordinary shares at $5 each.

in Bookers Central 24 Services 21 8.
Capital Reserves Capital the net interests include over the cost of shares Reserves all pre-acquisition reserves of and represent as follows: in the companies the excess acquired Guyana Distilleries Limited Liquors Diamond Limited $3,942,000 33,000 $3,975,000 27 GUYANA llllUOR CORP. l TD STATEMENT OF VALUE ADDED AND ITS DISTRIBUTION FOR 1976 $000 $000 45,796 22,832 22,964 16,393 3,165 1,855 ---1..§fil 22,964 -- Turnover Deduct: Purchase of goods and services TOTAL VALUE ADDED Distribut ed as follows:- To Central Government Company taxes Duty & Consumption Tax To Employees Emoluments and benefits 1,557 14,836 798 To Suppliers Interest Dividends of capital on borrowed funds to shareholders 1,057 Retained for the business Depreciation Retained profits 851 _100 29