Friday, November 24, 2017

ANSA’s profits down 21%*


ANSA McAL, one of T&T’s largest non-energy companies, yesterday reported a 21 per cent decline in its profit after tax for the nine months ending September 30, 2017, compared with the same period in 2016. The conglomerate recorded profit after tax of $416.8 million in the nine-month period in 2017, while for the same period in 2016, its net profit was $527.8 million.
The statement by ANSA McAL chairman, Norman Sabga, accompanying the conglomerate’s unaudited financials, said: “The increase in statutory tax rate reduced reported profit after tax (PAT) by $26 million and contributed to the lower earnings per share (EPS) result.

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