SAAM has seen a significant upswing in profit, in great part due to a more streamlined business approach.

The Macario Valdes-led owner posted a $14.5m profit for the fourth quarter, up 77% from the same period last year.

For all of 2018, the company's profit fell 16% to $49.6m, in part due to sale of a minority interest in Tramarsa in 2017 for $26m million and non-recurring effects in 2018.