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Angostura records six per cent first quarter growth

Friday, May 9, 2014

Angostura Holdings Ltd has reported first quarter results from continuing operations of $31.9 million, reflecting growth of six per cent compared to the same period last year. Consolidated financial statements for the three months ended March 31 shows an after tax profit of $23.2 million which chairman Gerald Yetming said was “driven by commercial operations”. “In 2013, total profits of $72.1 million included non-recurring gains of $54.5 million which were related to exchange rate fluctuations and the settlement of Euro denominated debt,” he said. Yetming said the company’s third quarter performance was achieved despite logistical challenges that prompted the rescheduling of some export business to the second quarter. “These results signal a healthy return on assets from the core business and we anticipate continued growth for the remainder of the financial year,” he said.