Jul 2014 Financial News

ANSA makes $1billion profit

Jul 07, 2014

THE ANSA McAl Group in fiscal 2013 made a profit before tax of $1.14 billion, revealed chairman/CEO, Norman Sabga, at yesterday’s AGM at the Hyatt Regency Hotel, Port-of-Spain.

Anyone who bought $10,000 in ANSA Mc Al shares in 2003 would today see them worth $33,000 (inclusive of dividends), giving a compounded rate of return of 13 percent.

He added that the share-price rose from 75 cents in 1988 to $66.50 today. Sabga said the past year had seen the group earn record revenues, record profits, record earnings-per-share, and a record dividend payout of $1.30.

The 2013 Annual Report shows that last year the group had revenues of $6.21 billion, operating profit of $1.16 billion, finance costs of $47 million, profit before tax of $1.14 billion, income to shareholders of $742 million and earnings per share of $4.31. Sabga said revenues were up by six percent, operating profits up by 14 percent, profits before tax up by 31 percent, interest cover up by 135 percent (and is now “25 times” comparted to “11 times” the previous year), profit margin is up by 13 percent, and earnings per share are up by 17 percent, while the group beneficially also saw a 51 percent drop in its financial costs.

He said the group’s total debt, outside of deposits in the financial sector, is $74 million.

The ANSA Mc Al Group has total assets worth $12.2 billion, said Sabga, with net assets of $5.3 billion. There is a 104 percent ratio of revenue over assets, a 1.73 liquidity ratio and a two percent increase in the profit margin, he added.

Some $284 million was spent in 2013 to modernise the group’s plants so as to make them world-class.

Source:
Newsday
Monday July 7, 2014

http://www.newsday.co.tt/business/0,197298.html