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February 07, 2025
Massy Holdings Limited (MASSY)
Unaudited financials for the first quarter ended December 31, 2024:
All figures are stated in TT$ unless otherwise indicated.
Massy Holdings Limited (MASSY) reported a 6% increase in revenue, totalling TT$4.16 billion for the first quarter ended December 31, 2024, compared to TT$3.92 billion in the corresponding three months last year. Operating profit after finance costs increased by 7% to TT$303.53 million, compared to TT$283.85 million for the first quarter ended December 31, 2023.
The share of loss of associates and joint ventures increased by 98% to close at TT$152,000 (2023: Share of profit of associates and joint ventures of TT$7.84 million), while profit before income tax increased by 4% from TT$291.69 million in 2023 to TT$303.38 million for the three months. As a result, income tax expense for the first quarter amounted to TT$101.26 million, an 8% increase relative to TT$93.34 million reported in 2023.
Profit for the year from continuing operations for the three months amounted to TT$202.12 million, a 2% increase relative to TT$198.35 million reported in 2023. Profit after tax from discontinued operations totalled TT$3.84 million, a 998% increase from the corresponding period last year (2023: Loss after tax from discontinued operations of TT$350,000).
Profit for the year for the first quarter ended December 31, 2024, amounted to TT$205.96 million, a 4% increase relative to TT$198.00 million reported in 2023. Profit attributable to owners of the Parent for the three months had a 4% increase to reach TT$190.51 million (2023: TT$182.69 million).
Consequently, Earnings Per Share for the three months amounted to TT$0.096 (2023: EPS: TT$0.092). The twelve-month trailing EPS was TT$7.88, and the number of shares used in these calculations was 1,979,384,540. Notably, MASSY’s stock price closed the trading period on February 06, 2025, at a price of TT$82.93 with a corresponding P/E ratio of 10.53x.
Balance Sheet Highlights
The company’s assets totalled TT$15.26 billion (2023: TT$15.80 billion). This decrease was attributable to other current assets, which amounted to TT$5.08 billion (2023: TT$6.08 billion). Financial assets also contributed to the decrease, equating to TT$1.71 billion (2023: TT$1.90 billion).
Shareholders’ equity was TT$7.71 billion (2023: TT$7.32 billion), representing a book value per share of TT$3.90 (2023: TT$3.70).
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