Agostini’s sales up profits flat

Super Pharm one of Angostini's brands

Super Pharm one of Angostini’s brands

Sales for Trinidad’s Agostini’s at TT$779 million for the six months to March this year, were 9 percent higher than the comparable period of 2014 and grew 12.5 percent, to $370 million for the quarter, while profit attributable to shareholders was flat, at $44 million for the six months.
For the March quarter, profit slipped in at $17.6 million versus $18 million in the prior year. Earnings per share were the same 76 cents, the same as in the prior year.
Pharmaceutical & Personal Care Distribution segment saw increased revenues of 9 percent and profit with profit rising 16 percent from $47 million to $55 million but while revenues rose 12 percent in the Food, Construction Related & Other Trading segment but profit declined 37 percent from $19.5 million to $12.3 million
The group acquired companies in the “Fast Moving Consumer Goods” sector in Barbados and in Guyana in the first quarter. “We have made good progress. We are in the process of bringing Group benefits to these operations, and expect meaningful contributions in the future” management stated in their release with the results. The Group expects to make additional strategic investments in the near term.
Although energy prices have recently stabilised, the Trinidad & Tobago economy is expected to be negatively affected in the short to medium term, as energy prices are substantially lower than a year ago.
Based on the results, the Directors agreed to maintain the interim dividend at 22 cents per share to be paid on 22 June, 2015.The company’s stock trades on the Trinidad and Tobago Stock Exchange with the last price being $17.25 giving it a PE of 11.5 times this year’s earnings.
Agostni’s had equity of TT$579 million long term liabilities of $170.4 million and positive working capital of $317 million at March.

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  1. […] lower. More telling is the fact that about a third of the listings have no bids to buy. Gains| Agostini’s traded 990 shares at $17.03 with a rise of 1 cent, Clico Investments traded 26,975 shares with a […]

  2. […] West Indian Tobacco shed 5 cents to close at $112.30 with 458 shares changing hands. Firm Trades| Agostini’s traded 500 shares at $17.01, Angostura Holdings ended with 358 shares changing hands at $13.60, […]

  3. […] with bids higher than the last selling price and 6 stocks with offers that were lower. Gains| Agostini’s traded 2,000 shares and gained 1 cent to close at $17.01, Clico Investment Fund traded 40,900 […]

  4. […] by 10 cents while trading 125,000 shares to close at $2.30 for a 52 weeks’ high. Firm Trades| Agostini’s traded 100 shares at $17.25, Clico Investment Fund posted 211 shares and closed at $22.75, First […]

  5. […] the bid higher than the last selling price and 6 stocks with offers that were lower. Firm Trades| Agostini’s traded 170 shares at $18.20, ANSA McAL contributed 200 shares and ended at $67, Ansa Merchant Bank […]

  6. […] of 4 cent but 880 shares changing hands to end with at a new 52 weeks’ high of $67.25. Losses| Agostini’s traded 1,189 shares at $18.19 for a 1 cent loss and FirstCaribbean International Bank traded 18,500 […]

  7. […] Index gained 0.66 points to 1,950.15 and the Cross Listed Index remained at 45.03. Gains| Agostini’s gained 74 cents with 819 shares changing hands to close at a new 52 weeks’ high $18. Losses| […]

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