May 2016 Financial News

ANSA McAL nets $156mn in Q1

May 13, 2016

The ANSA McAL group, the parent company of Guardian Media Ltd, yesterday reported unaudited after-tax profit for the three month period ending March 31, 2016, of $156.2 million, which was 2.2 per cent less than the corresponding quarter in 2015.

In financial results published on the T&T Stock Exchange website yesterday, T&T’s largest conglomerate said it generated revenues of $1.41 billion, which were “consistent with prior year” of $1.40 billion.

ANSA McAL said the group’s profit before tax of $204 million was also in line with the 2015 number of $209 million. Earnings per share of $0.80 matched prior year.

According to the group: “Improvements realised in our automotive, trading and distribution segment were able to offset the results of our insurance and financial services segment, which were lower than last year due to unrealized losses in our local and international investment portfolios.

“Our overseas subsidiaries showed strong profitability in this first quarter of 2016.

Group chairman Norman Sabga expressed confidence that ANSA McAL would achieve its year-end targets

Source:
Trinidad Guardian, A15
Friday May 13, 2016