The ANSA McAL group yes­ter­day de­clared af­ter-tax prof­it of $675.54 mil­lion in its fi­nan­cial year end­ed De­cem­ber 31, 2024, a 13.6 per cent in­crease com­pared to the $584.48 mil­lion the com­pa­ny earned in 2023.

The group's prof­it be­fore tax to­talled $905.81 mil­lion in its 2024 fi­nan­cial year, an im­prove­ment of 7.6 per cent com­pared to 2023.

ANSA McAL's rev­enue for 2024 was $7.40 bil­lion, 5.02 per cent more than in 2023.

The con­glom­er­ate, which is list­ed on the T&T Stock Ex­change al­so ex­pe­ri­enced growth in its to­tal as­sets, which were 9.5 per cent more, at $20.17 bil­lion, as at De­cem­ber 31, 2024, than at the end of its 2023 fi­nan­cial year. The com­pa­ny al­so re­port­ed that its cash flows gen­er­at­ed from op­er­a­tions surged 53 per cent year over year

In his chair­man's stat­ment on the group's fi­nan­cials, Nor­man Sab­ga said key busi­ness seg­ments achieved sig­nif­i­cant profi be­fore tax growth in 2024, led by:

* Con­struc­tion, man­u­fac­tur­ing, pack­ag­ing and brew­ing by 29 per cent;

* Au­to­mo­tive, trad­ing and dis­tri­b­u­tion by 22 per cent

* Bank­ing and in­sur­ance by 5 per cent

Sab­ga said de­scribed 2024 as "a year of ex­cep­tion­al per­for­mance and trans­for­ma­tive growth for the group."

He said be­yond these out­stand­ing fi­nan­cial re­sults, the group took a bold step for­ward in our long-term strat­e­gy by com­plet­ing its largest ac­qui­si­tion in its 143-year his­to­ry.

"The US$327 mil­lion ac­qui­si­tion of BleachTech a lead­ing US-based chlor-al­ka­li pro­duc­er, is a trans­for­ma­tive move that po­si­tions us for even greater suc­cess. The ac­qui­si­tion of BleachTech was large­ly fi­nanced by a US$200 mil­lion term loan orig­i­nat­ed in the in­ter­na­tion­al mar­ket. This ac­qui­si­tion and oth­er cap­i­tal im­prove­ments have in­creased our gear­ing ra­tio from 7.5 per cent at the end of 2023 to 28.4 per cent at the end of 2024," Sab­ga said.

"With such strong fun­da­men­tals and an ex­pand­ing glob­al foot­print, we are seiz­ing this mo­ment to rein­vest in the busi­ness and dri­ve even greater long-term val­ue for our share­hold­ers. To sup­port our am­bi­tious growth plans, strength­en our bal­ance sheet, and en­sure fi­nan­cial flex­i­bil­i­ty, we have made the strate­gic de­ci­sion to sus­pend div­i­dend pay­ments for three years to sup­port our long-term am­bi­tion," the ANSA McAL chair­man added.

He ex­pressed con­fi­dence that this rein­vest­ment will yield far greater long-term ben­e­fits—en­hanc­ing our com­pet­i­tive po­si­tion, ex­pand­ing in­to new mar­kets, and un­lock­ing new growth op­por­tu­ni­ties. More­over, he said, he group ful­ly ex­pects these ef­forts to dri­ve sig­nif­i­cant ap­pre­ci­a­tion in the com­pa­ny’s share price, en­sur­ing that you, our val­ued share­hold­ers, ben­e­fit from a stronger, more re­silient, and more valu­able com­pa­ny.

"The fu­ture of our com­pa­ny has nev­er been brighter. As we move for­ward with am­bi­tion, dis­ci­pline, and a re­lent­less com­mit­ment to long-term suc­cess, we re­main deeply grate­ful for your trust and part­ner­ship. Thank you for be­ing part of this ex­cit­ing jour­ney—we look for­ward to de­liv­er­ing even greater val­ue to­geth­er.