Demtoco forecasts better performance for 2020

first_imgThe Demerara Tobacco Company (Demtoco) is anticipating a hike in the sale of cigarettes locally. The expected improvement in spending power comes in light of the development of the country’s lucrative oil and gas industry.“…with the prospect of oil production in 2020, we anticipate improvements in the purchasing power of our consumers which should lead to increasing opportunities for business sustainability and growth,” said Demtoco’s Managing Director, Christopher Brown, in his review published in the 2018 Annual Report.“The economic forecast for Guyana suggests brighter prospects for the country and for Demerara Tobacco Company,” he noted.Last year, sales grew by 4.5 per cent from $6.1 billion in 2017 to $6.4 billion in 2018. Demtoco said this resulted mainly from its consumers “appreciating and choosing our brands, versus the illicit competition”.Despite the fact of an increasing presence of the illicit trade, the company said it was able to maintain volume stability relative to 2017.In fact, Demtoco’s Bristol, Pall Mall and Dunhill brands all posted increased sales volumes, contributing to the growth experienced in 2018.Even as it anticipates an increase in cigarette sales, the company said it continues to support laws and regulations prohibiting the sale of these products to anyone under the legal minimum age of 18.In order to achieve this, the company worked directly with retailers to uphold the law and it even supported distributors in providing training and point-of-sale materials for use by retailers to help uphold the minimum age laws.Cigarette smoking harms nearly every organ of the body and causes many diseases, according to the Centre for Disease Control and Prevention. In fact, smoking is the leading preventable cause of death in the USA.“We understand the concerns about our products and are working hard to conduct our business responsibly, in an industry seen by many as controversial,” Demtoco said.Demtoco last year recorded a 14.4 per cent increase in profits before tax, making a stunning rebound after five consecutive years of decline.Chairman Marcus Steele attributed this success to the firm’s strong leadership and its key business partnerships, notwithstanding the challenge it now faces with complying with the new regulations and the challenges it continues to face with the illicit trade.last_img read more

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Survivor tells of harrowing crash

first_imgThe bus was traveling to Florida for the team’s annual spring training trip when the driver apparently mistook an exit ramp for a lane and went off the side of an overpass spanning Interstate 75. The National Transportation Safety Board said it wasn’t clear why the driver went on the ramp. There were tire marks, but it wasn’t clear when the driver realized his mistake and tried to correct it. Numerous crashes have happened at that uncommon left-side, HOV exit, board member Kitty Higgins said Saturday. No signs are visible that tell drivers to slow down for the ramp that ends at a T-intersection on the overpass, she said. Moore was trapped between bus seats until his teammates pulled him out. For a long moment, they stood looking at each other in the pre-dawn darkness inside the bus that had fallen 30 feet. The legs of Mike Ramthun and Chris Bauman were pinned beneath the bus. Moore and other teammates tried to calm them, telling them help would be on the way. They got the roof escape hatch open and stumbled out on the freeway. ATLANTA – Tony Moore and his college baseball teammates were jolted awake when their bus slammed against a concrete barrier and dropped off an overpass. At least two students were trapped, one player had already died and diesel fuel was leaking, survivors and family members said. It would be hours before the team, and those left behind at their tight-knit Ohio campus, would know the toll: Four Bluffton University teammates dead, plus the driver and his wife. Twenty-nine were injured, although only eight remained hospitalized on Saturday evening. Five were in serious or critical condition, and the rest were in fair or stable condition. Moore said he fell asleep on the bus floor after a late night of watching movies, listening to music and chatting about the eagerly anticipated spring training. The next thing the 21-year-old junior remembers is hitting the rail on an Atlanta interstate overpass early Friday, rolling around and “the final slam in the ground.” “We were trying to get everybody loose off,” Moore said. “Everybody was still in shock.” Timothy Kay, a pitcher, and others tried to lift the bus and pull the pinned players out. “They were very worried about all the diesel fuel on the ground,” Ed Kay said of his son. Rescue teams later freed the pair. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

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Nevada rancher defends remarks loses supporters

first_imgLAS VEGAS — A Nevada rancher who became a conservative folk hero for standing up to the government in a fight over grazing rights lost some of his staunch defenders Thursday after wondering aloud whether blacks might have had it better under slavery.Republican politicians from around the country who have rallied to Cliven Bundy’s defense in recent weeks denounced the comments and distanced themselves from the rancher, including potential 2016 presidential contender Sen. Rand Paul and Nevada Sen. Dean Heller. Democrats were quick to pounce on the comments and label Bundy a racist.Bundy has gone from a little-known rancher and melon farmer in rural Nevada to a national political star since he resisted the federal government’s attempts to round up his cattle from federal land because he hadn’t paid grazing fees for two decades. His supporters, especially those on the right, have praised him for standing up to what they believe is a heavy-handed federal government, and several armed militia members traveled to his ranch to back Bundy.His comments were first published in The New York Times on Wednesday, but he did little to tamp down the controversy as he sought to address the public outrage on Thursday. Bundy was quoted in a Times story referring to black people as “the Negro” and recalling a time decades ago when he drove past homes in North Las Vegas and saw black people who “didn’t have nothing to do.” He said he wondered if they were “better off as slaves” than “under government subsidy.”last_img read more

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