Home' Trinidad and Tobago Guardian : March 24th 2016 Contents A19
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The ANSA McAL Group recorded
a 9.2 per cent increase in profit before
tax for 2015. Group chairman and
CEO Norman Sabga said the profit
before tax was $1.163 billion, up from
$1.065 billion for the previous year.
The results, which were announced
yesterday, also show that the group s
earnings per share (EPS) improved by
12 per cent to $4.45, from $3.97 in
2014 and revenues stood at $6.2 billion
which is two per cent higher than the
prior year mark of $6.1 billion.
Sabga said all of the group s seg-
ments generated acceptable revenue
growth levels in 2015 that exceeded
2014. Manufacturing, packaging and
brewing grew by 13 per cent, while
automotive, trading and distribution
was up by nine per cent; media, serv-
ices and parent company by eight per
cent and insurance and financial serv-
ices by four per cent.
The group s directors have approved
a final dividend of $1.10 per share
which will be paid on June 8. This is
ten per cent more than the final div-
idend in 2014 and took the group s
total dividend for 2015 to $1.40 per
Sabga said a mixture of different
things accounted for ANSA McAL s
solid results at a time when the T&T
economy is sluggish.
"Look at the talent we have. We
have done this the ANSA McAL way.
We are never happy where we are,
we have a target of growing signif-
icantly by 2020," he said.
"We were born in hard times and
flourish in hard times. We believe
there is a lot of opportunity ahead."
Speaking following the official
release of the group s year-end finan-
cial results at ANSA McAL s head
office, Tatil Building, Port-of-Spain,
Sabga said the conglomerate model
works well when external circum-
stances are not doing well.
"When one sector is down, the
other sectors can grow. That is the
model that has worked well for us,"
Sabga said the ANSA McAL Group
has had difficulties accessing foreign
exchange and is looking to increase
exports to gain access to more of it.
"The demand for foreign exchange
outstrips the supply. We must find
the mechanism to bring equilibrium
to the market. We are struggling for
foreign exchange in insurance, trade
and other areas. We want to beef up
exports to generate more foreign
exchange," he said.
He said while a depreciating TT
dollar will drive production up, only
in certain sectors like international
trade, while in manufacturing it would
be much smaller.
Sabga also reported that ANSA
McAL continues to do well in Bar-
bados and other regional markets. He
said Barbados loves the ANSA McAL
group and T&T and the group has
contributed to growing wealth in that
The ANSA chairman said he is con-
fident T&T has what it takes to revive
its sluggish economy.
"We are in a difficult position as a
country and we have to work hard to
get ourselves out of this position," he
Latin America and the Caribbean
are highly vulnerable to potentially
devastating cyber attacks, yet four out
of five countries in the region do not
have a strategy in place to prevent the
danger, according to a study jointly
conducted by the Inter-American
Development Bank (IDB) and the
Organization of American States
The international institutes have called
on the regional governments to step up
cyber security, saying that two out of
three countries do not have a command
and control centre for cybersecurity.
Another major handicap that the study
found out is that a large majority of
prosecutors in the region lack the capac-
ity to punish cybercrimes. Uruguay,
Brazil, Mexico, Argentina, Chile, Colom-
bia, and T&T all have an intermediate
level of preparedness, but lag behind
more advanced countries like the United
States, Israel, Estonia, and South Korea,
the report says. "This report is a call to
action to protect our citizen and our
critical infrastructure for the 21st cen-
tury," said IDB President Luis Alberto
Moreno. "Our region arrived late to the
Industrial Revolution. We cannot miss
the opportunity provided by the Digital
Revolution. (Nearshore Americas)
IDB/OAS: Region vulnerable to cyber attacks
$1.1b profit before tax for ANSA McAL
Group chairman and CEO of the ANSA McAL Group Norman Sabga, right, speaks with, from left, Alvin Johnson,
managing director of Caribbean Stockholders Limited; Lai Fadahunsi, managing director of SHBL Investments
Limited and Harold Alleyne, manager of Caribbean Stockholders Limited following the release of the group's 2015
year end financial results at Maraval Road, Port-of-Spain yesterday. PHOTO: ABRAHAM DIAZ.
"Look at the talent we have,
we have done this the ANSA
McAL way. We are never
happy where we are, we have
a target of growing
significantly by 2020,"
ANSA MCAL GROUP CHAIRMAN
AND CEO NORMAN SABGA
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