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The ANSA McAL Group has posted a 12% increase in revenue to $5.83 billion for the nine months ended September 30, 2025. Presenting the results at the Group’s financial briefing at Samaan Estate, Port of Spain, group chief financial officer Nicholas Jackman said the performance reflected the company’s focus on sustainable growth through investment, diversification, and disciplined execution. “As we look at our financial results, it’s important to reset ourselves around our journey. We’ve really been guided by a vision of sustainable growth. We continue significant investment in plants, equipment, systems and security, and we are pursuing operational expansion and diversification inside and outside of Caricom.” For the third quarter alone, group revenue reached $2.02 billion, up 12% from the same period in 2024. Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) grew 31% to $436 million, while profit before tax rose 22% to $250 million. Earnings per share increased by 25% to $0.91. For the nine-month period, profit before tax stood at $561 million, marginally lower than last year’s $568 million, while earnings per share declined by 5% to $1.91. Despite the decline in earnings per share for the nine months, in the third quarter, there was a 25% jump in earnings per share. These results come on the heels of suspended dividend payments for three years as part of the group’s 2X strategy. Speaking on this during the question-and-answer segment of the event, group chief executive officer Anthony N Sabga III said, “We are seeing a very significant uptake in volume of our shares being traded which tells me that there are a lot of sellers. So there remains a lot of interest in our shares.” He added, “We definitely remain confident in the outlook of the outside performance of the group.” Jackman explained that the early-year slowdown linked to freight and trade disruptions in the first quarter had temporarily weighed on results, but the group regained momentum by mid-year. He said the automotive, trading and distribution segment accounted for 31% of revenue despite tight foreign exchange availability and higher administrative costs. The construction, manufacturing, packaging and brewing segment contributed 47% of total revenue, supported by strong gains in both sales and operating margins. Banking and insurance contributed 18%, with double-digit growth in banking and even stronger results in insurance, while the media, retail and services segment made up 4%, reflecting ongoing digital and operational transformation. However, the media arm of the conglomerate, Guardian Media Ltd, recorded a loss of $14.1 million for the year ending September 30. When asked if there will be changes in the way GML operates given the consistent loss, Sabga III said, “We are shareholders and a publicly traded entity. Media in T&T continue to have its challenges which I don’t think we need to debate. There is management there doing reports, the independent board of directors and they would be needful to seek turnaround and end those current financials. As it stands today, we have no immediate plans around changing the business. Could that change? Who knows?” Jackman also reported that operating margins improved by 2.9 percentage points over the prior year, and that Guyana has now emerged as the group’s second-largest geographic market, surpassing Barbados. He added that the group remains comfortably within its financial commitments, with its gearing ratio reduced from 28.4% to 25.2%. Following Jackman’s presentation, Sabga III said Ansa McAL’s strategic direction and recent investments were already yielding tangible results. “Whilst we have not yet fully cycled the challenges of the first quarter, the indications from our third quarter are demonstrating that the initiatives and programmes are starting to bear the kind of fruit we would expect,” Sabga III said. In the unaudited financials, group chairman A Norman Sabga stated that the third quarter’s results marked “another period of improved performance,” with revenue climbing 12% to $2.02 billion and adjusted EBITDA increasing 21% to $438 million. Profit before tax rose 22% to $250 million, and earnings per share increased by 25%. “The group’s performance is trending positively in line with our 2X growth strategy, which requires strategic growth in international markets such as Bleachtech in the USA, Carib in India and the UK, and the expansion of our real estate services offering in Guyana. This required significant investment and prudent financial management, all of which was accomplished whilst reducing our gearing ratio from 28.4% to 25.2%,” he said. Sabga noted that the Chemicals (Bleach) sector’s profit before tax increased by 132% over the prior year. “With the completion of 50% plant expansion ANSA Chemicals (Trinidad) increased profits by 14% over prior year. At Bleachtech (USA), production at both plants has stabilised, resulting in increased output.” He added that the Financial Services sector recorded a 36% increase in profit before tax, while the beverage portfolio continued to grow, particularly in Guyana and the OECS. “Carib Lager made significant strides in India and the UK, and this momentum is expected to continue into 2026. Ansa Motors and Europcar extended their partnership to Jamaica and Guyana; Proton continues to gain market share and the new Honda CRV has just been launched.” Sabga also confirmed that, in line with the group’s strategic objective to sharpen its focus on core businesses and create value for shareholders, it has agreed to divest Standard Distributors (Trinidad and Barbados), Brydens Xpress and Retail in Barbados. “The group’s performance reaffirms our unwavering commitment to innovation, operational excellence and disciplined financial stewardship. We are very proud to be the first in the region to introduce an AI-powered HR platform designed to boost efficiency and support employee growth. Additionally, CariCRIS reaffirmed ANSA Merchant Bank’s CariAA and ttAA credit ratings while A.M. Best maintained TATIL’s A-Excellent rating. Both agencies assigned a ‘Stable’ outlook to these ratings. “As we continue to look ahead, we are resolute in our mission to deliver sustainable, transformative value for all our stakeholders,” he stated in the financials.
