Ansa McAl Group profits up by 3%

THE Ansa McAl Group of companies, through its digital platform, boasted of an expansion in its daily reach to 1.8 million connections through its media company Guardian Media.

This was announced by the Ansa Mc Al Group, at their annual general meeting held virtually on Monday, where the group also celebrated a three per cent increase in revenue between 2018 and 2019.

The expansion will see a wider absorbing of media products as the media company integrated its newsrooms between TV and print reporters.

In a presentation shared among stakeholders in the annual general meeting the Ansa McAl Group of Companies reported it garnered $6.593 billion in revenue, up from $6.385 billion last year.

It improved its profit before tax by 1.8 per cent from $1.036 billion in profits in 2018. Total assets grew by 3.2 per cent.

The conglomerate also managed to scoop up two companies – Trinidad Aggregate Products (TAP) and Bank of Baroda, with a third company in its sights for 2020.

The successes, which were borne out of innovations with Caribe hard cider and the production of Coors Light in TT, contributed to the conglomerate’s bottom line in the brewing sector.

Despite market decline in TT in automotive markets, Ansa maintained its 19 per cent market share of new vehicles, with the Honda City CNG leading the charge as the company’s number-one-selling vehicle. A focus was also placed on parts and servicing of vehicles, which delivered a three per cent growth in the sector.