Wednesday, August 23, 2017

Angostura profits slump by 19% *


RUM and bitters producer, Angostura Holdings Ltd, yesterday reported a 19.4 per cent decline in its after-tax profits for the first six month of its financial year.

The publicly listed company saw its profits decline to $42.9 million for the January to June period, compared with $53.2 million for the same period in 2016.

The Laventille-based company also experienced a 13.6 per cent decline in its revenue between January 1 and June 30, 2017, with sales falling to $240.9 million from $278.9 for the same period in 2016. Some 72 per cent of the company's revenues during the first six months of 2017 came from branded products, compared with 82 per cent for the same period in 2016.

 

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