An­gos­tu­ra Hold­ings Lim­it­ed has record­ed its high­est rev­enue in 10 years.

In a press re­lease is­sued to­day, the com­pa­ny stat­ed that it saw an up­swing in both the lo­cal and ex­port mar­kets in 2019.

Ac­cord­ing to An­gos­tu­ra Hold­ings Lim­it­ed, its ex­port rev­enues grew by 14.8% in 2019.

The fol­low­ing is the full text of the press re­lease is­sued by the com­pa­ny:

An­gos­tu­ra Hold­ings Lim­it­ed record­ed its high­est rev­enue in 10 years. Rev­enue in­creased by 8.1% or $63.5 mil­lion in 2019 to $847.2 mil­lion. It al­so saw a 14% in­crease com­pared to 2017. This rep­re­sent­ed a sig­nif­i­cant im­prove­ment in the Group’s top line growth which saw a de­cline in rev­enue from 2015 to 2017.

The Group achieved a 9.2% or $11.9 mil­lion in­crease in prof­it af­ter tax for the fis­cal year end­ed De­cem­ber 31st, 2019. Prof­it went up from $129.9 mil­lion in 2018 to $141.8 mil­lion in 2019. The 2019 prof­it af­ter tax rep­re­sent­ed a 28% in­crease in prof­it as against that record­ed in 2017. Gross prof­it in­creased to $417.5 mil­lion which was a 7% in­crease over 2018 and a 14% from 2017.

The Group saw an up­swing in both the lo­cal and ex­port mar­kets in 2019.

Chair­man Ter­rence Bharath says,

“This growth was due main­ly to strong per­for­mance in the Bit­ters seg­ment ow­ing to in­creased de­mand and dis­tri­b­u­tion growth among top re­tail­ers in the North Amer­i­can mar­ket. Lo­cal rum sales al­so con­tributed to this im­prove­ment, boost­ed by the fourth quar­ter launch of White Oak Sor­rel. Fi­nal­ly, the co-pack bulk seg­ment has grown sig­nif­i­cant­ly through­out the year.”

An­gos­tu­ra Hold­ings Lim­it­ed, which is world-renowned for its Bit­ters brand, was able to record rev­enue growth in the ex­port mar­ket de­spite a slow­down in the glob­al econ­o­my due to weak­ened glob­al trade and in­vest­ment. Ex­port rev­enue grew by 14.8% in 2019 and was due to the con­tin­ued strong per­for­mance of the Bit­ters seg­ment which in­creased by 11% in 2019. The fastest grow­ing Bit­ters mar­ket, the USA, re­port­ed sev­er­al gains as dis­tri­b­u­tion growth in top re­tail­ers in the North Amer­i­can mar­ket re­sult­ed in in­creased de­mand through­out the year. The Unit­ed King­dom, Cana­da and Eu­rope al­so re­port­ed sig­nif­i­cant growth, each ex­ceed­ing 15% over the pre­vi­ous year.

An­gos­tu­ra Lemon Lime Bit­ters rev­enue in Trinidad and the wider Caribbean went up by 10% due to brand ex­po­sure gained from in­no­v­a­tive mar­ket­ing.

The Group’s to­tal as­sets in­creased by $125.9 mil­lion to $1.34 bil­lion as at De­cem­ber 31, 2019.

In look­ing ahead, Chair­man Bharath says,

“While we are cog­nizant of the like­ly im­pact of re­cent events on our op­er­a­tions glob­al­ly, we are al­so mind­ful to play our part in the eco­nom­ic re­cov­ery of Trinidad and To­ba­go. To this end, we will work with all stake­hold­ers to con­tribute to fi­nan­cial and so­cial up­lift­ment and se­cu­ri­ty of our Coun­try in par­tic­u­lar, but al­so in the mar­kets in which we op­er­ate.

“Our con­tri­bu­tion of hand san­i­tiz­ers to front­line work­ers and char­i­ties dur­ing the pe­ri­od of the pan­dem­ic is in­dica­tive of the flex­i­bil­i­ty and agili­ty we are pre­pared to un­der­take to make a dif­fer­ence. We re­main grate­ful to our loy­al Cus­tomers who in the main, are the hall­marks of our suc­cess. We salute our em­ploy­ees who have been in­stru­men­tal in our con­tin­ued suc­cess and re­main grate­ful for their ded­i­ca­tion dur­ing these un­for­tu­nate cir­cum­stances.

“On be­half of the Board of Di­rec­tors, I wish the Peo­ple of Trinidad and To­ba­go a safe pas­sage out of the COVID 19 pan­dem­ic. We of­fer our deep­est con­do­lences to those who have passed as a re­sult of this virus. To those who are re­cov­er­ing, we wish you a quick re­turn to good health.”