MASSY Group closed its 2025 financial year on a strong footing, recording growth in revenue, profit and cash generation despite ongoing global market volatility — performance which reflects the benefits of a more structured business portfolio, tighter execution, and a sharpened strategic focus under new leadership.

For the full year ended September 30, 2025 the group’s third-party revenue grew by three per cent to TT$15.8 billion (US$2.3 billion), while net profit increased by 14 per cent to TT$766.3 million (US$113.7 million). The results were supported by improved efficiency and disciplined portfolio management.

In his report to shareholders, newly appointed Group CEO James McLetchie said the company has moved beyond its stabilisation phase and is now better positioned to compete with greater clarity, maturity and confidence.

“We maintained our overarching structure of three industry portfolios — Integrated Retail, Gas Products, and Motors & Machines — supported by our financial services line of business, all supported by the investment holding company,” he said.

“This structure is now fully operationalised and continues to advance our operational and financial goals —improving our returns on invested capital to provide the right foundation and scale for sustainable growth. This is the outcome of [the] 2021-2023 strategy where Massy shifted from an expansive conglomerate of hundreds of entities to a much more focused group,” he added.

Across its diverse portfolio, Massy delivered resilient performances. The Integrated Retail Portfolio (IRP) remained the largest contributor, with revenue increasing by four per cent to TT$9.9 billion, driven by strong growth in Trinidad and Tobago, Barbados, Guyana and the Organisation of Eastern Caribbean States (OECS).

The Gas Products Portfolio (GPP), despite recording a six per cent decline in revenue to TT$2.03 billion owing to softer demand, however benefited from an 8 per cent profit before tax increase amounting to TT$385 million. This, as revenue in the Motors & Machines Portfolio grew by seven per cent to TT$3.73 billion, although profit before tax declined 18 per cent to TT$186 million as a result of tighter market conditions, which pressured margins.

The group’s financial services business — comprising Massy Finance GFC and Massy Remittances — continued to play a strategic role by linking operating portfolios to credit, digital payments and foreign exchange capacity, strengthening liquidity and overall financial resilience.

“We continue to evaluate opportunities in specific new geographies, but in FY2025 we made focused moves within markets to strengthen competitiveness and prepare for the next phase of expansion,” McLetchie noted.

During the year, Massy undertook several targeted initiatives to strengthen its competitiveness within existing markets. In Jamaica, the group announced the sale of its distribution business to Acado, now in the final stages of regulatory review. In Trinidad, the completion of the fully automated Orange Grove warehouse marked a step change in supply chain efficiency and customer experience. In Guyana, one of the world’s fastest-growing economies, Massy broke ground on a new, technologically advanced warehouse in Houston to support rapidly expanding demand.

Following the successful integration of Rowe’s IGA in Florida, the group also continued to evaluate disciplined expansion opportunities in the US market, with further momentum expected in FY2026 as the business becomes fully embedded within the IRP and the wider group.

The financial year also marked a turning point in Massy’s approach to partnerships, enabling the group to expand its capabilities and raise standards in pursuit of its global ambitions. Leadership changes during the year further reinforcing the company’s strategic direction saw McLetchie assuming the role of Group CEO in late October as he succeeded David Affonso.

Under McLetchie the group is said to have sharpened its focus on accelerating strategy execution, expanding hard-currency earnings, embedding technology, and raising standards of excellence across all business lines. Affonso’s tenure was, however, credited with strengthening governance, stability, and performance discipline — leaving a resilient foundation built over more than three decades.

The board in also welcoming Ivette Zuniga as chief financial officer (CFO) and Ryan Latchu as CEO of the Motors & Machines Portfolio, further underscoring Massy’s commitment to strong governance and talent development. The more-than-a- century-old operation, listed on both the Jamaica Stock Exchange and the Trinidad and Tobago Stock Exchange, currently employs over 13,000 people across the region.

“FY2025 reminded us of Massy’s true character,” McLetchie said. “We enter FY2026 stronger, more aligned, and more ambitious than at any point in recent memory. Our aspiration is clear — to build a high-performing, values-driven group that delivers intergenerational returns, prosperity and impact.”

Chairman Robert Riley, who added that the year represented both “progress and renewal”, also noted that Massy delivered strong results while laying the groundwork for an ambitious future.

“The group continues to evolve, embracing innovation and resilience to create lasting value for generations to come,” he said.

Massy Group CEO James McLetchie