Agostini’s Ltd appoints new director

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Pharmaceutical and health-care group Agostini’s Ltd has announced the appointment of Nicholas Sinanan as a director of the company, effective January 6.

In a notice published on the Trinidad and Tobago Stock Exchange (TTSE) website on January 7, Agostini's said Sinanan is an attorney-at-law with extensive experience in corporate and commercial law, with his area of speciality being corporate finance.

"Sinanan currently serves as the managing partner and head of the corporate and commercial practice group at the law firm Johnson, Camacho & Singh. He is also a Notary Public of TT," the notice said.

He is a graduate of Holborn College, London where he obtained his bachelor of laws with honours. He also holds a postgraduate diploma in professional legal skills from City University, London.

"He has been admitted to the Bars of both TT and England and Wales. He is also a member of the Law Association of TT and the Honourable Society of Gray's Inn," the notice said.

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In November 2024, Agostini's appointed Toni Sirju-Ramnarine to its board of directors.

Sirju-Ramnarine was named president of NGC Green Company Ltd in March 2024, after spending 18 years at Atlantic LNG Co Ltd, where she last served as vice president – corporate operations and transformation.

Sirju-Ramnarine is a qualified chemical engineer from the University of West Indies. She also holds a master's in international management from King's College, University of London.

Agostini's board is headed by Christian Mouttet.

In his chairman report for the year ended September 30, 2024, Mouttet said the group enjoyed a solid financial performance for the 2024 fiscal year.

"This reflects our continued focus on operational performance and reaping the benefits of our recent strategic acquisitions.

"This was achieved despite increased headwinds in some markets, in particular our largest, TT, as well as continued global supply chain disruptions and price fluctuations."

The group's sales grew by nine per cent, increasing from $4.7 billion in 2023 to $5.1 billion in 2024.

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Profit attributable to shareholders (before the one-off net gain on acquisitions in the prior year) improved by ten per cent, from $221 million in 2023 to $242 million in 2024.

During this financial year, the group also geographically expanded its pharmaceutical and healthcare business with the acquisition of the Aventa Group, a leading pharmaceutical distribution company in Curacao and Aruba.

"Additionally, we expanded our SuperPharm retail business with the acquisition of ten Massy in-house pharmacies and 13 Linda’s retail units which are being reconfigured and rebranded to new brand platforms.

"We believe these strategic acquisitions will expand our customer base and allow us to deliver enhanced products, services and value to all of our customers," Mouttet said.