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Angostura Holdings Q1 profit falls YOY

Angostura Holdings Ltd said its first-quarter normalized net income amounted to 7 Trinidad and Tobago cents per share, a decline of 31.0% from 10 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was TT$13.4 million, a decrease of 31.3% from TT$19.5 million in the prior-year period.

The normalized profit margin fell to 11.0% from 14.9% in the year-earlier period.

Total revenue fell 6.6% year over year to TT$122.2 million from TT$130.8 million, and total operating expenses increased from the prior-year period to TT$100.3 million from TT$99.2 million.

Reported net income declined 9.5% on an annual basis to TT$20.3 million, or 10 cents per share, from TT$22.4 million, or 11 cents per share.

As of May 7, US$1 was equivalent to TT$6.35.