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ANSA McAL profits up 16 per cent

 

ansa group trans

 

The ANSA McAL Group of Companies has achieved a 16 per cent increase in profit before tax for the nine months ended September 30. Unaudited results published yesterday show a profit of $686 million, up from the $595 million recorded in the corresponding period in 2012. Chairman and chief executive A. Norman Sabga said the results were “a clear indication of sustained growth and profitability.”

“We expect this trend to continue in our fourth quarter, which has always been our best quarter,” he said. The group’s revenue grew to $4.4 billion, six per cent more than the $4.1 billion earned the previous year. Earnings per share improved by 17 per cent to $2.59, up from $2.22 in the same period last year.

Sabga said earning’s in ANSA McAL’s automotive, trading and distribution segment improved by 65 per cent and insurance and financial services by 35 per cent. However, the manufacturing, packaging and brewing segment and the services and parent segment remained relatively flat. He added: “Geographically, Guyana continues to perform on budget whilst Barbados and OECS businesses are affected by sluggish regional economic conditions. We continue to be confident of growth in the Trinidad and Tobago economy.

 

Taken From: Trinidad Guardian
November 13, 2013