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Angostura Q1 profits up

Published: 
Tuesday, May 16, 2017

Angostura has recorded profit after tax of $16.1 million for its first quarter ended March 31st 2017.

This represents a marginal uptick to the $15.9 million after tax profit that the company registered for the comparable period in 2016.

The Laventille-based rum producer also saw a 10.4 per cent growth in revenue moving from $101.4 million in March 2016, to $112.1 in March 2017.

Against the backdrop of improved performance, Angostura chairman Rolph Balgobin noted that the company had been globally recognised.

He said: “During Q1, our rum brands continued to gather awards with the premium export rums receiving 8 gold medals and 3 silver medals at the Spirits Business Rum Masters (UK based) and World Spirits Awards (European based).”

Balbogin added that “the group continues to maintain a strong asset base and healthy cashflows,” and that “all business processes are being aligned to optimize performance and enable faster growth.”