Friday, May 25, 2018

Barbados and Trinidad lose money for Massy

Barbados and Trinidad lose money for Massy
15 May
2018

While the Trinidad-based Massy Holdings Limited recorded a three per cent increase in revenue to 6.5 billion dollars, the main reason for the growth was identified as its growing auto-dealership in Colombia.

In contrast, the company says it has actually recorded revenue declines from its higher margin businesses in Barbados and Trinidad and Tobago.

The information was revealed by Massy chairman, Robert Bermudez, in the highlights of the unaudited consolidated financial statements for the six months ended March 31st, 2018.

He says the declines in Trinidad and Barbados, especially, resulted in flat profit after tax performance.

Bermudez adds that the group will continue to prioritize its investments and growth initiatives in the healthier performing economies in its portfolio.

Latest Articles

Most Read