April 23, 2020

Angostura Holdings Records Highest Revenue In A Decade, Profits For 2019 Reach $141.8 Million

By Newsroom

An increase in sales on the local and export markets, coupled with innovative marketing, is what Angostura Holdings Limited  has credited to their revenue peaking to its highest in ten years.

The company’s revenue climbed to $847.2 million in 2019, representing an 8.1% increase from the previous year. Meanwhile profits rose to $141.8 million, up from $129.9 million in 2018. The 2019 profit after tax represented a 28% increase in profit as against that recorded in 2017. Gross profit increased to $417.5 million which was a 7% increase over 2018 and a 14% from 2017.

It’s a welcomed development for company, which saw a decline in revenue between 2015 and 2017. Chairman, Terrence Bharath says, “This growth was due mainly to strong performance in the Bitters segment owing to increased demand and distribution growth among top retailers in the North American market. Local rum sales also contributed to this improvement, boosted by the fourth quarter launch of White Oak Sorrel.”

Export revenue grew by 14.8% in 2019, credited to a “continued strong performance of the Bitters segment”.

With all of the positive news coming as the world faces the COVID-19 pandemic, Mr. Bharath says, “While we are cognizant of the likely impact of recent events on our operations globally, we are also mindful to play our part in the economic recovery of Trinidad and Tobago.” Angostura has already contributed hand sanitizers to frontline workers and charities during the period of the pandemic is indicative of the flexibility and agility we are prepared to undertake to make a difference.

Chairman of Angostura Holdings Ltd., Terrence Bharath
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