The ANSA McAL group of com­pa­nies has en­joyed yet an­oth­er strong pe­ri­od, as the Group has re­port­ed in­creased rev­enues and prof­its for the nine months end­ed Sep­tem­ber 30, 2023.

In the com­pa­ny’s unau­dit­ed fi­nan­cial state­ment for pe­ri­od, it was re­vealed the group’s rev­enue in­creased by 9.62 per cent to $5.17 bil­lion, up from $4.71 bil­lion for the same pe­ri­od in 2022.

The group re­port­ed a prof­it af­ter tax of $323.78 mil­lion, a size­able jump from the $13.73 mil­lion for the same pe­ri­od in 2022.

ANSA McAL’s af­ter-tax prof­its of $323.78 mil­lion for the first nine months of its 2023 fi­nan­cial year al­ready sur­passed its au­dit­ed af­ter-tax prof­it of $251.52 mil­lion for its 2022 fi­nan­cial year.

The com­pa­ny’s to­tal as­sets grew to $17.90 bil­lion, al­so up com­pared to $17.57 bil­lion lev­el re­port­ed for 2022.

ANSA McAL chair­man A Nor­man Sab­ga said, “Our bank­ing and in­sur­ance busi­ness­es de­liv­ered a strong per­for­mance dur­ing this re­port­ing pe­ri­od with in­ter­est and in­vest­ment in­come re­turn­ing to pre-2019 lev­els and the in­vest­ment port­fo­lios pro­duc­ing pos­i­tive non-cash mark to mar­ket gains re­vers­ing non-cash loss­es in 2022.”

Sab­ga not­ed that the bev­er­age, con­struc­tion and dis­tri­b­u­tion busi­ness­es demon­strat­ed strong top line growth, but were im­pact­ed by non-re­cur­ring in­creased in­put costs due to de­ci­sions to se­cure sup­ply chains amidst glob­al dis­rup­tions.

The group’s au­to­mo­tive op­er­a­tions was al­so hailed for its per­for­mance as it in­creased both rev­enue and prof­itabil­i­ty year on year.

The ANSA McAL chair­man said, “We are res­olute in achiev­ing our am­bi­tious 2X ob­jec­tive to dou­ble the Group’s size and scale by 2027 and have made strate­gic gen­er­a­tional in­vest­ments in sup­port of at­tain­ing this goal.

“Our new­ly com­mis­sioned, state-of-the-art re­turn­able bot­tling line at Carib Brew­ery will en­able in­creased ca­pac­i­ty for ex­ports, en­sure con­sis­tent pro­duc­tion of high-qual­i­ty bev­er­ages with greater op­er­a­tional ef­fi­cien­cy, re­duced waste and low­er wa­ter and en­er­gy con­sump­tion.

“This sig­nif­i­cant in­vest­ment un­der­scores our deep com­mit­ment to the cir­cu­lar econ­o­my, with its fo­cus on re-use and re-cy­cling.”

He al­so point­ed out that new ad­di­tions to the group were al­so ex­pect­ed to bol­ster the per­for­mance of Ansa McAL as he stat­ed, “At ANSA Chem­i­cals, we are in the ear­ly stages of a 50 per cent chlor-al­ka­li plant ex­pan­sion, which will as­sure its abil­i­ty to sup­ply 100 per cent of the chlo­rine need­ed to pro­vide clean and potable wa­ter to the en­tire Cari­com re­gion.

“We ex­pect this ex­pan­sion to be com­plet­ed by March 2024. The per­for­mance at Colfire has im­proved no­tice­ably post-ac­qui­si­tion lay­ing the foun­da­tion for growth and in­no­va­tion in the in­sur­ance sec­tor.”