Business

Angostura Holdings nets $111.1m in group profit

Angostura Holdings Ltd (AHL) is reporting $111.1 million in group profit after tax for the period ended December 31, 2017. This represents an 8.9 per cent decrease in group profit after tax compared to the prior year.

AHL closed the financial period with cash and cash equivalents of $152.8 million. The company’s chairman Rolph Balgobin, commenting on the performance of the group, said for the period the group reported a 7.3 per cent decline in revenue.

TTMA not supporting T&T's position at OAS towards Dominica

The Trinidad and Tobago Manufacturers’ Association (TTMA) says it does not support the statement made by Trinidad and Tobago’s permanent representative to the OAS on March 23 to Dominica's First Secretary Judith Anne Rolle’s request for a two (2) year waiver of its fees to the OAS.

At the meeting, contrary to the position of all other nations' representatives, a deferral was recommended by our country's representative rather than the requested waiver.

WASA pushes for rate hike

The Water and Sewerage Authority says it is in dire need of a rate increase because it was spending more money to supply the nation water than it receives from customers.

According to chairman Romney Thomas the public utility company is in a dire financial situation where “despite the monopoly status WASA’s revenues are way below operating costs resulting in a heavy dependence on subventions from the Government.”

Caribbean Airlines owes Airports Authority $210 million in rent

The national airline, Caribbean Airlines (CAL) owes a staggering $210 million in rent to the Airports Authority of T&T (AATT), according to the Auditor General’s Department.

CAL has promised to come up with some kind of settlement plan to pay off the outstanding arrears.

This was revealed yesterday in a Public Accounts Committee meeting chaired by Bhoe Tewarie at the Parliament Building, Port-of-Spain.

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