Chairman’s Statement – Unaudited Results for the Nine Months Ended 30th September 2019


I am pleased to report another quarter of revenue growth at Q3 2019 with revenues increasing by 4% and profit margins being preserved.

This growth was achieved through three of the Group’s four segments. Manufacturing, Packaging and Beverage grew by 4%; Financial Services increased by 24%; Media, Retail, Services and Parent Company grew by 3%.

Revenues generated were $4,717 million ($4,552 million – 2018). Profit after Tax (PAT) was $442 million and included restructuring costs of $25 million (as previously reported). Without the one – off restructuring costs, the Group’s PAT increased by 3% over prior year ($445 million – 2008). Its reported earnings per share (EPS), inclusive of restructuring costs, stands at $2.10 ($2.25 -2018). I am also pleased to report that the Group surpassed $15 billion in total assets.

Our focus is on the fourth quarter, which is peak trading period for the Group. We are also well placed for continued growth; all our subsidiaries have completed their planning for 2020 and have already initiated their respective strategies.

I am indeed encouraged by these results and in the leadership shown by our people.


A. Norman Sabga
Executive Chairman
By order of the board