Al­though the Ansa McAL Group record­ed a one per cent de­cline in rev­enue and prof­it be­fore tax for the third quar­ter of the year, chair­man and chief ex­ec­u­tive A Nor­man Sab­ga said those re­sults are rel­a­tive­ly sta­ble.

"Con­sid­er­ing the pre­vail­ing eco­nom­ic cli­mate, I con­sid­er these re­sults ac­cept­able. Though some seg­ments record­ed de­clines, we are pleased with the good per­for­mance of our fi­nan­cial ser­vices seg­ment. All of our op­er­a­tions con­tin­ue to gen­er­ate good cash flows. Fur­ther, rev­enues from our over­seas op­er­a­tions grew by sev­en per cent," he said.

Sab­ga said the group is con­tin­u­ing to in­vest strate­gi­cal­ly and has ac­quired two new busi­ness­es in the Unit­ed States and T&T.

"In the USA, we ac­quired Flori­da Beer Com­pa­ny, the largest in­dige­nous brew­ery in Flori­da and in Trinidad and To­ba­go, we ac­quired EASI In­dus­tri­al Sup­plies Ltd. Both ac­qui­si­tions are in busi­ness­es where we al­ready have sig­nif­i­cant in­vest­ments and syn­er­gies, both ac­qui­si­tions will gen­er­ate US dol­lar in­come.

At the same time, we have di­vest­ed the su­per­mar­ket busi­ness in Bar­ba­dos. These de­ci­sions will pos­i­tive­ly im­pact PBT (prof­it be­fore tax) per­for­mance go­ing for­ward," he said.

"Our con­glom­er­ate mod­el pro­vides bal­anced re­sults across our port­fo­lio of busi­ness­es and sol­id re­turns even in a chal­leng­ing eco­nom­ic en­vi­ron­ment. I re­main con­fi­dent that the group will de­liv­er a good year end re­sult."