Regional conglomerate Massy Holdings Limited saw slight improvements in top-line and bottom-line earnings for the nine months in financial year 2024/2025, driven mainly by growth in its retail portfolio.

In a statement to shareholders, Massy Holdings Chairman Robert Riley noted that the group’s integrated retail portfolio continues to contribute to the company’s financial performance with double-digit growth recorded in Trinidad, Barbados, and the Organisation of Eastern Caribbean States.

At the same time, the company’s gas portfolio performed well despite competition lowering profit margins in Jamaica and lower demand for nitrogen in Trinidad and Tobago.

Massy’s motor vehicle segment saw revenue growth of 4 per cent with its operation in Colombia generating a stronger performance in comparison to 2023/24. However, in Trinidad, lower USD dollar availability and “non-traditional new car sales” dampened sales.

Overall, Massy reported a 4 per cent increase in revenue for the nine months as well as for the quarter.

Revenue for the nine months totalled TT$11.84 billion. Net profit for the period of TT$529.42 million reflected 16 per cent growth over the TT$455.11 million in the comparative period in FY23/24.

Third-quarter revenue was TT$3.9 billion, while net profit increased 1.8 per cent to TT$167.04.

Total assets grew by 3.2 per cent in the nine months to TT$15.46 billion

 Massy Holdings has been reshaping its leadership structure as part of its strategy to improve performance and achieve greater efficiency.

The group hired a new chief financial officer in Ivette Zuniga, while it has appointed Ryan Latchu to lead its Machines and Motors Portfolio. Effective October 1, James Letchie will assume the dual role of group president and CEO, replacing David Affonso who will step down as group CEO a day before.