Ansa Mcal profit stable after a big fall in 2017.
Trinidad’s conglomerate, Ansa McAl reported flat profits of $216 million before corporate tax for the quarter to March 2018, up marginally from the $214 million in 2017.
Profit after tax attributable to shareholders’ of the group, rose 4 percent to $138 million for the period. The results, although modestly higher than for 2017, marks stability compared to a big decline in the full years results for 2017 when they reported a decline from $691 to $544 million.
Improved profit was achieved from a 7.7 percent rise in revenue to $1.5 billion from $1.4 billion for the March 2017 quarter. Growth in revenues drove profit before finance cost up to $219 million from $216 million as profit margin remained at 15 percent in both periods. Finance cost rose from $9.9 million to $11.4 million, taxation was flat at $59 million in both periods.
Segment results show progress, except for Insurance and Financial Services that reported flat revenues and a 35 percent fall in profit and the Media business where revenues declined 3 percent but had a 33 percent rise in profit. Manufacturing, Packaging and Brewing increased revenues by 16 percent and profit by the same level
Carib Beer brewed in Trinidad by Ansa McAl Group
while Automotive trading and distribution enjoyed a mere 6 percent increase but that was enough to drive profit up by a strong 35 percent.
Earnings per share amounted to 79 cents, giving it a PE ratio around 18. Net book value per share is $39 while the stock trades at 1.5 book with the last price of $59.
Ansa is one of Trinidad’s major conglomerate, owning media houses, Carib Beer brewery, and now Berger Paints and other paint brand out of Trinidad to name a few of the entities it is involved in. At the end of March, shareholders equity stood at $6.86 billion.
