Angostura __________

ARE YOU ABOVE THE LEGAL DRINKING AGE. IN YOUR COUNTRY OF RESIDENCE?

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INVESTOR RELATIONS

Corporate Information

Board of Directors:

Mr. Terrence Bharath (Chairman)
Ms. Renee Johncilla
Mrs. Michal Andrews
Mr. Ulric Miller
Ms. Ingrid Lashley

Acting CEO:

Mr. Ian Forbes

Company Secretary:

Kathryna Baptiste Assee  LLB (Hons); LEC; EMBA

Chief Financial Officer:

Ginelle Lambie

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

Financial Results

Performance Overview

Our Q1 2019 revenue declined by $25m over Q1 2018 with our two main segments, local rum, down by $4.2m, and Bitters, down by $16.5m.  It should be noted however, that Q1 2018 revenue included $9m in Bitters sales to the USA and Australia, which were in fact delayed shipments of Q4 2017 export Bitters orders. Additionally, whereas both Carnival and Easter local rum sales were recorded in Q1 2018, due to the late Easter season only Carnival sales were included in revenue for Q1 2019.

The significant challenges experienced in our supply and distribution systems late last year are also partially responsible for the decline in the revenue reported for Q1 2019 as compared to Q1 2018. The Company anticipates increased revenues, given that these challenges are being rectified and the foreign segments of our business continue to be strong and stable.

The Group’s Cost of goods sold was relatively stable, with a minimal increase of 2% or $1.5m from the prior period. The Group also stringently managed its operating expenses, resulting in a reduction of operating expenses by $2.3m or 4.6%. Although lower than Q1 2018, efficient management of our manufacturing, marketing efforts and operations, together with increases in finance income of $0.9m resulted in Group profit before tax of $17.9m for Q1 2019.

Mr. Terrence Bharath
Chairman
March 13, 2019