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…turnover and profit after tax increase by 10%The Demerara Distillers Limited Group (DDL) recorded an after taxation profit of $1.140 billion in 2010, marking a 10 percent increase over 2009.Chairman of DDL’s Board of Directors, Dr. Yesu Persaud, in his report, said that the group turnover increased from $12.4 billion in 2009 to $13.7 billion in 2010, a 10 percent increase also.Dr. Persaud noted that the Group is now well positioned to expand distribution of its branded products internationally. Despite the unfavorable global market conditions, the Company achieved a combined growth in volumes of over 145 per cent over 2009 in North America, Europe and the Caribbean.This commendable performance is a result of the continuing investments in marketing activities internationally which showcases the premium nature of DDL’s products and its outstanding quality.The latter half of 2010 was very significant, in that, two major strategic agreements were signed. Effective August 1, 2010 DDL partnered with Sandals Resorts International, operators of the largest chain of luxury hotels in the Caribbean, to designate El Dorado as the exclusive ‘rum’ at all Sandals’ resorts and gift shops.The second agreement is with an exclusive wholesale and distribution agent in the USA.Additionally,Alex Bregman Jersey, for the very first time the company won the ‘Principal Spirit Trophy’ for the Americas and the Caribbean at the International Wine and Spirit Competition in London. The other winners at this competition were William Grant and Sons Distillers Ltd (International), Chivas Brothers (UK), Distell Ltd (Africa), Cooley Distillery plc (Europe), Suntory Liquors Ltd (Asia, Pacific). This trophy is awarded annually to the best Distillers, in the different regions of the world.Dr. Persaud noted that a new state-of-the-art US$5M Multi Column Still, set to become operational this year will increase capacity, improve efficiency and will enable DDL to better compete in the international markets for bulk rum and spirits.Additionally, the company’s journey along the green pathway will see the commissioning of its Bio-Methanisation Plant in June which will further increase efficiency and output while decreasing DDL’s dependency in fossil fuel.The Chairman reiterated that DDL is heading for further growth and development and shareholders will be proud to know their company is in the forefront of distilling and in the diversification programme.“The benefits that will be derived from the new capital projects expected to become fully operational in 2011 will position the Group to effectively take advantage of the market opportunities. These will not be without challenges and a significant degree of uncertainty in today’s volatile world’s economy; however, the diversified nature of the DDL Group is well prepared to buffer the anticipated shocks in any one area of our operations,” the Chairman noted.