Massy profits show 18 per cent decline

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Massy profits show 18 per cent decline

(TRINIDAD EXPRESS) – Massy Holdings Ltd on August 13 declared after-tax profit of $318 million for the nine months ending June 30, 2017—an 18 per cent decline compared with the same period in 2016.

The conglomerate’s results include a $72.3 million loss from discontinued operations, comprising the sale of Massy Communications Ltd to Telecommunications Services of Trinidad and Tobago (TSTT) for $215 million.

Massy Holdings took a loss on disposal of $34.7 million “and that impairment together with Massy Communications operational losses year to date comprise the loss from discontinued operations for the period under review,” said Robert Bermudez, the Massy Holdings chairman in a statement.

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