Trinidadian conglomerate Neal and Massy reported that its Jamaican businesses saw double digit growth in pre-tax profit during the December 2010 quarter.

“Particularly pleasing was the performance of our Guyana, Jamaica and Trinidad operations which all showed double digit growth in progit before tax,” said the company in its filing this week to the Trinidad and Tobago Stock Exchange (TTSE).

It said that its results in Barbados “were negatively impacted by United Insurance claims for damages sufferd by cliens from Hurrican Tomas, without which the Barbados operations would ahve grown profit before tax by nine per cent”.

Neal and Massy for the three months ended December 31, 2010 made pre-tax profit of TT$176.7 million from revenue of TT$2.28 billion compared to profit before tax of TT$178.4 million from TT$2.13 billion in revenue during the corresponding period in 2009.

The group’s Jamaican subsidiaries include cooking gas company, Gas Products Ltd, distribution company, HD Hopwood, Illuminat Jamaica, and Magna Rewards, of which it owns 51.3 per cent.

The Trinidadian firm also has a stake in Cool Petoleum, which it had to write off due to its loss making position — Cool incurred a pre-tax loss of TT$7.3 million for its 2010 financial year compared to a loss of TT$11.6 million the a year earlier.

Cool Petroleum Ltd is currently “seeking another cash equity partner”.

At the end of its 2010 financial year, Neal and Massy reported that it has identified growth prospects and has set a “growth madate” for its operations in Jamaica as well as other areas in which it operates.