Nov 2014 Financial News

ANSA Group reports $638m profit

Nov 17, 2014

For the nine months ended September 30, the ANSA Mc AL Group of Companies earned profit before taxes of $638 million, $48 million less than for the corresponding period last year. Commenting on the unaudited results, chairman A Norman Sabga said: “On a year to date basis, the financial services companies’ local and international investment portfolios generated $90 million less than the corresponding period in the prior year. 

Excluding this, the group’s core underlying PBT (profit before taxation) improved by seven per cent.” Sabga said the automotive, trading and distribution segment generated a 14 per cent improvement in PBT while the manufacturing, packaging and brewing segment improved by three per cent.

“In Barbados, the re-opening of the Trimart flagship supermarket store has been delayed, pending regulatory approvals and this has negatively impacted revenue growth and profitability in the retail sector,” he said. “The Barbados operations continue to adjust to the challenges in the current economic environment. “However, we are confident of recovery and continue to invest in the businesses.”

Source:
Trinidad Guardian
Saturday November 15, 2014

http://www.guardian.co.tt/business/2014-11-15/ansa-group-reports-638m-profit