Ja$28 Million Profit
Desnoes and Geddes on April 2, 1997 announced 1996 profit before tax of J$28 million compared to a loss of J$112 million for 1995. Turnover increased by J$966 million on the previous year to J$5.581 billion for 1996. Earnings per share improved to a loss of (16) cents compared to a loss of (64) cents per share at the end of 1995.
The company’s export volumes grew by 6% based largely on the performance of Red Stripe in the United States. Domestically, beer volumes grew by 2.1% with sales for both Guiness and Heineken nearly 9% ahead of 1995 volumes.