Express Business Filler #1

This week, we at Bourse review the financial performance of two local manufacturing companies for their respective six-month periods ended June 30, 2019 – Angostura Holdings Ltd (AHL) and Trinidad Cement Ltd (TCL). Angostura continues to broaden its market share in the international space which, added to improvements in its commodity trade segment, would have led to improved overall performance. In contrast, TCL’s profitability continues to slide lower due to depressed local demand for its products and rising expenses.

Angostura Holdings Ltd (AHL) Angostura Holdings Ltd (AHL) reported Earnings per Share of $0.26 for the HY period ended 30th June 2019, an increase of 13.0% from last period’s $0.23. Revenue for the current period increased 3.8% to $346.4M from $333.8M in HY 2018. This was, however, accompanied by a rise in Cost of Goods Sold to $172.1M, an increase of 4.3% or $7.1M over the prior comparable period. Resultantly, Gross Profit rose 3.3% from $168.7M in 2018 to $174.3M in 2019. Gross Profit Margin edged slightly lower to 50.3% from 50.6%. 


The Central Bank reported yesterday that T&T’s energy sector experienced further setbacks in the second quarter, with natural gas production falling “primarily due to production curtailments at Atlantic LNG which is a major user of natural gas”.

MAJORITY State-owned telecommunications provider TSTT yesterday became the first company in …

Local astronomer and microbiologist Dr Shirin Haque is among the 2020 lau­re­ates in the An­tho­ny N Sab­ga Caribbean Awards for Ex­cel­lence. Haque was selected for the award in the field of Science and Technology.

REPUBLIC Financial Holdings Ltd has agreed to pay the Scotiabank US$120 million to acquire 100 per cent of the Canadian bank’s operations in the British Virgin Islands.

HIGH COURT Justice Kevin Ramcharan, in September 2019, aborted an attempt by CL Financial subsidiary, Home Construction Ltd (HCL), to sell two highly coveted pieces of prime commercial real estate, following an objection to the lack of transparency and the failure to properly advertise the properties in the initial sales process by one of CL Financial’s joint liquidators, David Holukoff of the accounting firm, Grant Thornton.