Massy records 21% rise in profits

Massy Holdings has reported after-tax profit from its continuing operations of $833.3 million for the financial year ended September 30.

This is a 21 per cent increase compared to the $689 million it earned in its 2022 financial year.

The investment holding company generated third-party revenue of $14.2 billion in its 2023 financial year, which was an increase of 15 per cent over the $12.3 billion in revenue Massy reported in 2022.

The group's before-tax profit from continuing operations grew by 23.5 per cent from $995 million in 2022 to $1.22 billion in 2023.

Massy noted that in its 2023 financial year, it closed three significant acquisitions, including cooking gas and oxygen manufacturer and distributor IGL.

The company has operations in Jamaica.

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