Logo

After strong first quarter ANSA McAL aims for Billion dollar profit

ANSA MEETING

Chairman Emeritus of the ANSA McAL Group of Companies – Dr. Anthony N. Sabga (left) shares a light moment with Group Chief Operating Officer – Gerry C. Brooks during the 84th Annual General Meeting of the ANSA McAL Group of Companies Limited at TATIL Building, Maraval Road, Port-of-Spain on Tuesday 28th May, 2013.

 

The ANSA McAL Group of Companies is aiming to exceed its 2012 profit before tax of $952 million, Group Chief Operating Officer – Gerry Brooks said yesterday at the group’s Annual General Meeting at TATIL Building in Port of Spain. Brooks said the group has already posted a “ten per cent uplift in revenue” in the first quarter of 2013, and a “six per cent uplift in profitability.”

Asked if his forecast is that the group will exceed its record high profit before tax of $952 million at the end of 2012, he said: “We are going to work very hard to ensure that we exceed the 2012 numbers, and I think at the end of the year, we will all be pleasantly surprised.” Asked the same question, Andrew Sabga, a group director and son of ANSA McAL Chairman Emeritus Dr. Anthony N. Sabga, said: “You do the math. We are trending in that direction. We expect to have a very good year.”

Brooks said he saw growth in all sectors of the group. Emphasising that he was singling out two solely as examples, he said: “In our beverage sector, we’re seeing good growth. Our brands are well positioned. Stag is doing well. Carib Pilsner is doing well. In our financial services business, we see great upside. Our TATIL business is doing well.

“From an underwriting perspective, it’s a good book. TATIL Life continues to do well in terms of annualised income, and the (ANSA Merchant) bank continues to have an excellent portfolio with a one per cent delinquency rate and a 25 per cent growth in terms of our asset portfolio, but in each of our businesses our managing directors and teams are excited. We just had some review sessions with them. We are seeing great opportunity for growth. The key is excellence and execution.”

 

Group Corporate Communications
May 29, 2013