Massy Delivers Solid Growth in FY2025 and Sets Course for Bold Transformation
Massy Group has closed the Financial Year 2025 (FY2025) on a strong footing, delivering growth in revenue, profit, and cash generation despite global market volatility. These results underscore the strength of Massy’s diversified portfolios and disciplined execution.
The Group’s third-party revenue grew 3% to TT$15.8 billion (US$2.3 billion), while Profit Before Tax from continuing operations rose 4% to TT$1.1 billion (US$169.3 million). Profit After Tax increased 14% to TT$766.3 million (US$113.7 million), supported by improved efficiency and portfolio discipline.
Net Cash Generated from Operating Activities surged 24% to TT$1.67 billion (US$247.7 million). This figure represents the actual cash the businesses bring in from its day-to-day operations- money that can be used to invest, reduce debt, and return value to shareholders. Strong operating cash flow is one of the clearest indicators of a healthy, stable business.
The debt-to-equity ratio improved to 34% excluding leases, reinforcing financial flexibility. This shows how much of the company is financed by borrowing versus by shareholders. A lower number means the company is using debt responsibly and is in a stronger position to handle economic shocks and invest in new growth opportunities.
Across its portfolios, Massy delivered resilient performances.
- Integrated Retail Portfolio (IRP) remained the largest contributor, with revenue up 4% to TT$9.9 billion, driven by strong growth in Trinidad, Barbados, Guyana, and the OECS.
- Gas Products Portfolio (GPP) saw revenue decline 6% to TT$2.03 billion due to softer demand but still delivered an 8% rise in Profit Before Tax to TT$385 million, underscoring tight cost discipline.
- Motors & Machines Portfolio recorded revenue growth of 7% to TT$3.73 billion, while Profit Before Tax declined 18% to TT$186 million as market conditions pressured margins.
- Financial Services – Massy’s Financial Services combines Massy Finance GFC and Massy Remittances. These businesses link the Group’s operating Portfolios directly to credit, digital payments and foreign exchange capacity, strengthening liquidity and financial resilience.
Shareholders benefited from a 5% increase in total dividends per share to 17.70 cents, while earnings per share rose 9% to 36.49 cents, delivering an earnings yield of 9.8%. Earnings yield shows how much profit
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Massy’s share price appreciated 5% over the financial year, resulting in a total shareholder return of 12.18%. Total shareholder return combines share price growth and dividends received, showing the full benefit to investors over the financial year.
FY2025 also marked a leadership transition. James McLetchie assumed the role of Group President and CEO on 1 October 2025, succeeding David Affonso, whose three decades of leadership helped shape Massy’s success. The Board also welcomed Ivette Zuniga as CFO and Ryan Latchu as CEO of the Group’s Motors & Machines Portfolio, reinforcing its commitment to strong governance and talent development.
Looking Ahead
Massy is entering a new chapter focused on transformation. The Group is accelerating its evolution into a more connected, data-enabled, and people-led organisation. Investments in technology, innovation, and talent will drive growth and resilience, ensuring sustainable value for all stakeholders.
Chairman Robert Riley commented:
“FY2025 was a year of progress and renewal. We delivered strong results while laying the foundation for an ambitious future. Massy is continuing to evolve, embracing innovation and building resilience to create lasting value for generations to come.”