Apr 2015 Financial News

$153m after-tax profit for Angostura

Apr 07, 2015

Rum producer Angostura Holdings Ltd has posted a profit after tax of $153.4 million for its financial year ended December 31, 2014.

The Laventille-based company ended 2014 with results from continuing operations of $217.3 million in 2013, Angostura recorded profit after taxes of $289 million.

Chairman Gerald Yetming in his report on the company’s audited financial results, noted that the difference in profit came about because non-recurring income of $151.8 million was included in the profit after tax for 2013.
This represented gains from the settlement of debt and disposal of investments, Yetming stated. Underscoring the 2014 performance was topline growth of $9 million together with management control of operating expenses, he said.

“Our brands continue to grow profitably and the results from the branded business increased by $14.6 million over the prior year despite the many challenges in the domestic market and in some of our international export markets,” Yetming said. “Significant capital investment continues to be undertaken as we steadily modernise our plant and ensure a strong asset base to support the needs of our business.”

Source:
Trinidad Express
Monday April 6, 2015

http://www.trinidadexpress.com/business/153m-after-tax-profit-for-Angostura-298730721.html