An­gos­tu­ra Hold­ings Ltd de­clared a prof­it of $144.26 mil­lion for its fi­nan­cial year end­ed De­cem­ber 31, 2024, which was 5.07 per cent less than the $151.98 mil­lion it re­port­ed in 2023.

In the com­pa­ny's fi­nan­cial state­ments for the year end­ed De­cem­ber 31, 2024, chair­man Ter­rence Bharath said, "For the third con­sec­u­tive year, we have sur­passed the bil­lion-dol­lar rev­enue mile­stone, achiev­ing to­tal rev­enue of $1.06 bil­lion, a 1 per cent in­crease over the pri­or fis­cal year.

"This con­tin­ued growth un­der­scores our re­silience, strate­gic fo­cus and abil­i­ty to thrive in a dy­nam­ic mar­ket land­scape. Our in­ter­na­tion­al mar­kets re­main a key growth dri­ver, with brand­ed rev­enue in­creas­ing by $42 mil­lion (12 per cent) year-over-year. This was fu­eled by a 6 per cent rise in Bit­ters sales, con­tribut­ing $17 mil­lion, and the suc­cess­ful launch of STR8 VY­BZ Rums in No­vem­ber 2024."

He said ad­di­tion­al­ly, An­gos­tu­ra® Chill record­ed growth of 29 per cent across the Caribbean, adding $4 mil­lion to its rev­enue growth.

Rev­enue from An­gos­tu­ra's bulk and co-pack­ing seg­ment grew by $6 mil­lion (17 per cent) year-over-year, re­flect­ing the com­pa­ny's abil­i­ty to cap­i­talise on glob­al de­mand, said Bharath.

How­ev­er he not­ed there was con­trac­tion in lo­cal rev­enue, stat­ing, "While in­ter­na­tion­al ex­pan­sion fu­eled growth, the lo­cal mar­ket seg­ments faced some chal­lenges and our stan­dard rums seg­ment de­clined by 5 per cent. An­gos­tu­ra® Bulk Chill con­cen­trate rev­enue de­creased by $8 mil­lion (26 per cent), pri­mar­i­ly due to a pre-planned pro­duc­tion line main­te­nance pro­gramme."

He ex­plained that the brand's in­crease in rev­enue did equate to im­proved prof­it af­ter tax for the com­pa­ny.

Bharath said, "Notwith­stand­ing the in­crease of $7 mil­lion in rev­enue over the pre­vi­ous year, An­gos­tu­ra’s 2024 prof­its af­ter tax was mar­gin­al­ly af­fect­ed by the group’s strate­gic de­ci­sions to in­vest in brand-build­ing ef­forts, in­clud­ing:

• Our mile­stone 200th An­niver­sary Gala;

• The Glob­al Dis­trib­u­tors Con­fer­ence - the Group host­ed over 70 in­ter­na­tion­al dis­trib­u­tors, rep­re­sent­ing 37 mar­kets world­wide, lo­cal­ly in Trinidad and To­ba­go; and

• Launch ac­tiv­i­ties of our com­plete­ly new re­designed pack­ag­ing and pro­duc­tion line up­grades for our new pre­mi­um rum range. "

He ex­plained, "These ini­tia­tives con­tributed to an 8 per cent rise in sell­ing and mar­ket­ing ex­pens­es. At the same time, we stream­lined op­er­a­tions, lead­ing to a 7 per cent re­duc­tion in ad­min­is­tra­tive costs. As a re­sult, our prof­it for the year reached $144.3 mil­lion, a 5 per cent de­crease from the pre­vi­ous year."

Bharath said the brand had used its in­ter­na­tion suc­cess to help the cur­rent for­eign ex­change sit­u­a­tion stat­ing the brand con­tributed US$20.7 mil­lion from its ex­port earn­ings in 2024.