Local conglomerate Banks DIH Limited has recorded profits of $7.5 Billion for the year 2022, which represents a 12% increase in the company’s profit margin over the previous year.

The company said it also recorded an increase in its revenue by more than 10%.

Total revenue generated in 2022 topped more than $39.6 Billion, which is an increase of more than $3 Billion when compared to 2021.

In its 2022 annual report, the Chairman of Banks DIH Clifford Reis said the increase in profit was achieved despite challenges in supply chain and shipping and the steep increase in raw materials for a number of the company’s products.

Reis said the company was able to employ strategic planning and strong leadership to achieve its growth in earnings.

The company will host its annual shareholders’ meeting early in the new year.

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