Performance Overview

The Board of Directors of Angostura Holdings Limited is pleased to report an increase in profit after tax of $18.8 million or 16.9% for the fiscal year ended December 31, 2018 over the comparative period last year. Profit after tax for the fiscal year was $129.9M (2017: TT$111.1M) with Comprehensive Income for the period of $131.6M compared to $105.2M in the prior year.

A change in accounting treatment to reflect gross revenues including excise taxes resulted in an increase in revenues by 5.2% from $745m for the year ended December 31, 2017 (after restatement) to $783. 7m for the year ended December 31, 2018. This resulted in an increase in gross profit of $24.SM or 6. 7% over the previous year.

The Group’s performance demonstrates the rewards of the strategic decision to continue to provide the local market with the highest quality products while expanding the sale of profitable branded products through brand building internationally. This focus on the advancement of our brands in key international markets has contributed to improved profitability.

Despite increased operating expenses which were related primarily to increased marketing costs, results from operating activities grew by $15.2m or 9.6% in fiscal 2018. Additionally, the increase in Results from continuing operations of $18.6m or 11.6% in 2018 was due to finance income generated from more efficient cash management.

The Board of Directors is pleased to recommended a final dividend in respect of the year ended December 31, 2018 of $0.15 per share with a record date of July 12, 2019 and payment date of July 26, 2019. Together with the interim dividend of $0.09 per share paid on September 15, 2018, the total dividend in respect of 2018 will be $0.24 per share (2017: $0.21 per share), based on earnings per share of $0.63 (2017: $0.54 per share).

Mr. Terrence Bharath
Chairman