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ARE YOU ABOVE THE LEGAL DRINKING AGE. IN YOUR COUNTRY OF RESIDENCE?
Board of Directors
Dr. Rolph N. S. Balgobin (Chairman)
Mr. Albert Tom Yew
Mr. Anthony Hosang
Mr. Ulric Miller
Mr. Frederick Gilkes
Ms. Ingrid Lashley
Mr. Terrence Bharath
Mr. Trevor Marshall
Company Secretary:
Jennifer Frederick FCCA CA BSc
Chief Financial Officer:
Ginelle Lambie
CEO:
Genevieve Jodhan
Registered Office:
Corner Eastern Main Road & Trinity Avenue, Laventille, Trinidad & Tobago
E-mail: corphq@angostura.com
Website: www.angostura.com
Registrar & Transfer Office:
Trinidad and Tobago Central Depository Limited
10th floor, Nicholas Towers,
63-65 Independence Square: Port of Spain, Trinidad & Tobago
Auditors for period ending December 31, 2013:
KPMG
TRINRE Building
69-71 Edward Street
Po Box 1328 Port–of-Spain, Trinidad & Tobago
Bankers:
Ansa Merchant Bank Limited
Ansa Centre, 11 Maraval Road, Port-of-Spain, Trinidad & Tobago
Citibank (Trinidad and Tobago) Limited
12 Queen’s Park East, Port-of-Spain, Trinidad & Tobago
First Citizens Bank Limited
Corporate Banking Unit, 2nd floor, Corporate Centre
9 Queen’s Park East, Port-of-Spain, Trinidad & Tobago
RBC Royal Bank (Trinidad and Tobago) Limited
St. Clair Place, Port-of-Spain, Trinidad & Tobago
Republic Bank Limited
Promenade Centre, 72 Independence Square, Port-of-Spain, Trinidad & Tobago
Attorneys-at-law
J.D. Sellier & Company 129-131 Abercromby Street, Port-of-Spain, Trinidad & Tobago
Chairman’s Report
For the year ended December 31, 2017, the Group recorded revenue of $575.2m versus $620.5m in 2016, a decrease of $45.3M (7.3%). The revenue in 2017 was due to the strategic decision to downsize the loss making export bulk rum business and focus on brand building. Bulk rum sales represented 6% of the Group’s revenue in 2017 compared to 18% in 2016, a reduction of $60.9m. The rum brands and signature ANGOSTURA” aromatic bitters businesses performed favorably with revenue growth of 6%, to $537. 7m, and increased operating profit of $22m, or 9.8%, in 2017.
Despite the overall revenue decline and the impact of a change in depreciation methodology as we prepare for an increase in investment in plant and equipment, the business performed creditably, surpassing the average financial performance in the non-energy manufacturing sector for 2017.
The Directors have recommended a final dividend in respect of the year ended December 31,2017 of $0.12 per share with a record date of June 15, 2018 and payment date of June 30, 2018. Together with the interim dividend of $0.09 per share paid on September 15, 2017, the total dividend in respect of 2017 will be $0.21 per share.
Dr. Rolph Balgobin
Chairman
March 27, 2018
Please contact Jennifer Frederick regarding shareholder queries
