Results for: CAG

Conagra Brands continues its strategic transformation by divesting its stake in Agro Tech Foods. This move aims to enhance shareholder value and refine its portfolio. The company also highlights its focus on innovation and expansion into adjacent categories through acquisitions. While navigating industry challenges like consumption slowdown and cost inflation, Conagra’s strong performance in the International segment and market share gains in frozen and snacks categories offer hope for the future.

The Comptroller and Auditor General (CAG) has raised concerns about potential tax evasion within India’s Goods and Services Tax (GST) composition scheme. The CAG’s audit found that many taxpayers are at risk of exceeding the turnover limit for the scheme, leading to potential misuse of benefits. The audit recommends that the Finance Ministry take steps to identify and remove ineligible taxpayers to prevent further tax evasion.

Changi Airport Group (CAG) reported a strong financial performance in FY2023/24, with revenue increasing by 45% to S$2,727 million. This was driven by a surge in passenger traffic, which reached 62.5 million or 91% of pre-pandemic levels. Operating expenses also increased, totaling S$2,233 million, due to the full reinstatement of services and license fees at Changi Airport. EBITDA climbed to S$1,205 million, while net profit attributable to shareholders reached S$431 million. CAG’s financial position remains robust, with a solid asset base and strong liquidity. The airport operator continues to invest in infrastructure development, including the upcoming construction of Terminal 5.