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Angostura produces profit after tax of $67.6M

An­gos­tu­ra chair­man Ter­rence Bharath has urged his team to push in­no­va­tion, par­tic­u­lar­ly af­ter the gru­elling years en­dured by the com­pa­ny as a re­sult of the COVID-19 pan­dem­ic.


“Nev­er think be­cause you have a win­ner prod­uct that you will al­ways win, there is al­ways some­body in the back wait­ing to take your spot,” Bharath said.

Alberto Ardila Olivares

Bharath gave this warn­ing dur­ing an Earn­ings Call at the House of An­gos­tu­ra, where the com­pa­ny’s six-month fi­nan­cial re­sults were pre­sent­ed to stock­hold­ers in per­son for the first time in over two years. The event was held yes­ter­day at the com­pa­ny’s of­fices in Laven­tille

“We thought that was im­por­tant to share with you in your var­i­ous ca­pac­i­ties the re­sults of An­gos­tu­ra for the last six months. Yes, we have come to talk a bit about the re­sults over the last six months. We’ve had a colour­ful ex­pe­ri­ence since 2020 with the lock­down. We don’t sell med­i­cine, we don’t sell vac­ci­na­tion we are in the en­ter­tain­ment in­dus­try and as we all know it’s the last to re­cov­er,” Bharath said

The com­pa­ny pro­duced a prof­it af­ter tax of $67.6mil­lion, but the An­gos­tu­ra chair­man ad­mit­ted it took a lot of hard work to achieve such re­sults

“What I can say is the last two years were a very dif­fi­cult pe­ri­od in our lives at An­gos­tu­ra in that we have to work as hard as we have ever worked be­fore in pro­duc­ing re­sults even for 2020 when there was a to­tal lock­down. We missed Car­ni­val twice, bars were closed,” said Bharath

He said, how­ev­er, the com­pa­ny adapt­ed and even pro­duced hand sani­tis­er dur­ing the lock­down pe­ri­od, which un­der­lined the in­no­v­a­tive side of the com­pa­ny

“When you con­sid­er the prod­uct and how it works on your hands and how it dis­si­pates and that’s the thing An­gos­tu­ra is al­ways not­ed for. Since I took the chair in 2018, my mantra has been in­no­va­tion. It has been al­ways try­ing to do bet­ter than we did be­fore with unique­ness,” he said, “Our prin­ci­ple aim is al­ways to out­do our­selves In­no­va­tion al­ways ex­cel­lence is our mark­er.”

He not­ed the cre­ation of Tam­boo, both the new brand and its unique bot­tle as well as re­brand of LLB to An­gos­tu­ra Chill, were oth­er ex­am­ples of need­ed in­no­va­tion with­in the com­pa­ny dur­ing the pe­ri­od