Dec 2013 Financial News

Angostura goes into 4Q with profit

Dec 11, 2013

Angostura Holdings Ltd is going into the fourth quarter of 2013 from a vantage position, according to the company’s third quarter results released on December 2.

“Our profit for the quarter increased by 10.5 per cent from $36.2 million in 2012 to $40 million in 2013, and on a year-to-date basis we are $110.6 million ahead of the prior year, attributable in part to strategic restructuring decisions aimed at focusing the business on core activities. Increased expenditure has been incurred to support future growth globally across all product categories. We have closed the period in a surplus position of cash versus borrowings, after meeting debt service and dividend costs of $327.9 million and $47.4 million respectively,” said Angostura chairman Gerald Yetming.

“Dividends of $0.23 paid to date in 2013 reflect an increase of $0.11 over the same period in the prior year. We anticipate a successful fourth quarter ahead as we embark upon our peak season of trade,” Yetming said. The former finance minister signed the financial statements on October 29.


Source:
Trinidad Guardian
Wednesday December 11, 2013

http://guardian.co.tt/business/2013-12-11/angostura-goes-4q-profit