Angostura records $33m profit

Angostura Holdings Ltd has recorded $33 million in profit before tax for the first quarter of 2025.

In its unaudited financial statements for the three months ended March 31, Angostura said this represents an 11 per cent increase from $29.8 million recorded in 2024.

The profit after tax also increased to $22.7 million from $20.6 million in 2024.

Revenue for the period increased by $33 million, from $188 million in 2024 to $221 million in 2025.

In the chairman's statement, Terrence Bharath said branded revenue in international markets also excelled, earning 46 per cent more than in 2024, totalling $32 million.

"This commendable performance was driven by a remarkable 308 per cent growth in the rum segment and 13 per cent growth in the bitters segment year over year across several key international markets."

The local branded revenue also remained stable when compared to the same period in 2024.

"Robust performance of innovations including Correia’s Hard Rums, which now feature the recently launched Correia’s enhanced line, contributed to these results in the local market."

Bharath said Forres Park Puncheon continued to show growth while Solera Wines and Spirits recorded a 22 per cent growth through increased sales of agency brands.

"This was supported by two new store openings in December 2024 at East Gates Mall (Trincity) and M6 Plaza (Chaguanas), bringing our total retail operations to six outlets nationwide."

Bulk and Co-pack business increased by 20 per cent year over year, generated by increased demand from the international markets for Angostura's bulk rums, which achieved a strong 370 per cent increase.

The group achieved a 16 per cent increase in results from operating activities, driven by effective cost management and enhanced operational efficiency.

Earnings per share also increased for the first quarter by ten per cent, going from $0.10 in 2024 to $0.11.

"The group’s financial health remains strong with total assets of $1.8 billion and a low debt ratio of 0:16.

"We remain optimistic about the remainder of the year as we continue to implement several strategic projects and brand-building initiatives geared towards driving sustainability, innovation and market growth."