Massy continues to profit from its operations in Barbados.
The Trinidad and Tobago group’s unaudited consolidated financial statements for the third quarter ended June 30 show that Massy Holdings’ profit before tax in Barbados was $35.5 million, down from $40 million in the same period last year.
There was, however, an increase in revenue from this market. Massy’s group revenue from Barbados was $609.5 million at the end of June, up from $586.6 million at the identical time in 2025.
This information was shared as Massy chairman Robert Riley reported that under the integrated retail portfolio (IRP), which is the group’s largest earnings contributor, there were challenges in this market.
“Barbados and the United States were challenged but targeted improvement plans are under way in both markets, with clear focus on long-term operating performance, working capital and returns,” he said.
The chairman said overall that Massy “delivered resilient performance through the first nine months of financial year 2026, with revenue growth, strong operating cash generation and a stronger balance sheet”.
Its third-party revenue from continuing operations increased seven per cent to $3.8 billion, and group earnings before interest, taxes, depreciation and amortisation increased one per cent to $407.1 million, as cash and short-term funds attributable to continuing operations increased 30 per cent to $564.6 million.
“We achieved this growth against a demanding global macroeconomic backdrop. Geopolitical uncertainty, changing trade and regulatory policies, inflation, foreign-exchange constraints and uneven consumer demand continue to affect economies and businesses globally,” Riley said.
“Massy’s diversified portfolio, leading market positions, liquidity and balance sheet strength allow the group to remain resilient, invest through the cycle and respond with discipline.”
The group’s profit before tax from continuing operations was $232.7 million, three per cent below the prior period.
Post-tax profit was $146 million, seven per cent lower.
“However, this year-on-year movement included transformation investments in technology, safety and strengthened financial processes and controls, together with the temporary impact of Hurricane Melissa on Jamaica’s tourism market and our businesses there,” Riley shared.
“Jamaica’s recovery is already supporting improving economic activity, and we expect a further rebound early in the next financial year. Excluding these items, profit before
tax would have been ahead of last year, reflecting the strong underlying profitability of the group.”
On August 10, Massy officially opened its new Massy Stores Supermarket in Worthing, Christ Church, following a $46 million investment. While not specifically mentioning that expenditure in his report, Riley said the group’s board “supports management’s continued transformation of and investment in the group”.
“These investments are intended to improve customer experience, controls, productivity, earnings quality and cash generation. They affect near-term profit but support the sustainability of Massy’s future earnings,” he noted.
“Management is accountable for translating them into measurable operational and financial benefits.”
The group has sold Massy Distribution (Jamaica) Limited, a move the chairman said “advances our strategy of concentrating capital where Massy is best positioned to achieve attractive long-term returns”.
He reported that this transaction, presented within discontinued operations, resulted in a $32.6 million accounting loss on disposal, principally reflecting the reclassification through the profit or loss of $40.8 million of accumulated foreign-currency translation losses.
This was an accounting consequence of the disposal rather than a current cash outflow, he explained.
Riley said Massy was updating its business strategy to “set a bolder, more focused ambition – one that responds to the scale and pace of change in global and regional markets while capturing opportunities where Massy is well positioned to win”.