Massy posts financial loss in 2016

Trinidad Express:

Its profit before tax fell to $800.5 million for year ended September 30, 2016, down from $919 million in 2015 according to Massy’s consolidated income statement published yesterday in the press.

Massy’s profit after tax stood at $536.1 million in 2016, down from $668.3 million a year earlier.

Chairman Robert Bermudez said 2016 was challenging for the Group, resulting in a “mixed financial performance”.

He said: “While the Group’s balance sheet was well managed, Group third party revenue declined by three per cent or $411 million from $11.9 billion to $11.5 billion and earnings per share (EPS) declined by $1.43 (22 per cent) from $6.53 to $5.10, when compared to 2015.”

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