ANSA McAL’s Barbados revenue declines

Its Barbados-based Operations are feeling the impact as ANSA McAL Limited sharpens the focus on core “growth engines” and tries to maximise shareholder value as part of a 2X strategy to double its size by next year.

This comes as the Trinidad and Tobago conglomerate’s financial reports show that revenue generated from the Barbados market has declined by about $59 million, or 23 per cent, since 2022.

Revenue from subsidiaries here was about $197 million in 2025, down from approximately $217 million in 2024, $252 million in 2023, and $256 million in 2022, ANSA McAL’s annual reports, including the one for 2025, show.

Based on the financials, the steepest single-year drop occurred between 2023 and 2024, when revenue fell by $35 million.

The group has been selling off some of its Barbados businesses, and closing some, in recent times, as it has also been doing in the twin island republic.

Group chief executive officer Anthony N. Sabga III said: “In line with our commitment to sharpen focus and maximise shareholder value, we also executed a series of divestments: ANSA Technologies (Trinidad), Standard Distributors (Trinidad and Barbados) and Brydens Xpress and Retail (Barbados).

“These actions were deliberate steps to streamline the portfolio, redeploy capital, and intensify investment in our core growth engines. Simply put, we chose to focus and reduce complexity so we can deliver 2X with greater clarity, discipline, and impact,” he explained.

The 2025 annual report said ANSA Technologies was sold for $5.3 million, the holding in Brydens Retail Inc. and Brydens Express Inc. in Barbados was divested for $3.2 million, while Standards Distributors Limited and its subsidiary Standard Distribution and Sales (Barbados) Limited were sold for $5.3 million.

Some of the divestments have resulted in job losses here, as has the closure of ANSA McAL’s manufacture Berger Paints Barbados Limited.

“The year 2025 marked a defining stage in our 2X journey, with two years remaining to our 2027 targets, amid continued volatility across the markets in which we operate,” Sabga said.

“Shifting macroeconomic conditions, inflationary pressures, evolving supply chains, and uneven regional growth continue to create complexity across both our Caribbean and international markets. Yet this is an environment we understand – and one we are built to navigate.

“In that context, our focus in 2025 was clear – execute. After strengthening our financial foundation in 2023 and investing for growth and portfolio expansion in 2024, we turned to lifting performance across our core 2X sectors and raising the bar on operational excellence across the Group.

“By aligning priorities and holding ourselves accountable, we delivered measurable progress toward our 2027 targets.”

He said the 2X strategy was focused on the “core growth engines, the 3Bs: bleach, beverage, and banking”.

“These sectors offer the strongest opportunity to scale, deepen customer relationships, and accelerate value creation,” Sabga stated.

“While every business contributes to the group, our capital and management attention are intentionally concentrated where they can deliver the greatest impact, while we continue to strengthen performance across the wider portfolio.”

As it reduces its size in Barbados, ANSA McAL still has some operating entities, including ANSA Trading (Barbados) Limited.

On the trade and distribution business on the island, the group said: “In Barbados, our ongoing efforts in reorganising the business have generated a higher gross margin despite lower revenue and in conjunction with lower operating costs, produced improved profitability over the prior year.

“The continued revenue growth requires expanded facilities, and we are progressing the planning and execution of the expansion and upgrades required to support this in all markets.”

Regarding ANSA Merchant Bank (Barbados) Limited, the annual report said this financier “continues to play its role in supporting customers and communities with its range of products and services designed to meet the needs of customers in our chosen market segments”.

“As the Barbados economy continues to experience a period of increased activity, we are poised to deliver continuing support to customers and their banking needs.”

Trident Insurance, another Barbados subsidiary, “continues to perform in line with our expectations”.

“As in the case of Trinidad and Tobago, we continue to see revenue growth along with well-controlled claim costs and improved underwriting results. We continue to maintain our Barbados market share of approximately ten per cent,” the group said.

It also operates ANSA Motors (Barbados) Limited which reported increased sales of hybrid and electric vehicles. (SC)

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