Home Businessuite News24 Massy Holdings Reporting 18% Decline In PAT Arising From Loss On Disposal Of Massy Communications Plus Year To Date Operational Losses
Massy Holdings Reporting 18% Decline In PAT Arising From Loss On Disposal Of Massy Communications Plus Year To Date Operational Losses

Massy Holdings Reporting 18% Decline In PAT Arising From Loss On Disposal Of Massy Communications Plus Year To Date Operational Losses

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Robert Bermudez, chairman of Trinidad and Tobago based Massy Holdings, is reporting to shareholders that for the nine months ending June 30, 2017, the company declared after-tax profits of TT$318 million, an 18 per cent decline compared with the same period in 2016.

The conglomerate’s results include a TT$72.3 million loss from discontinued operations, comprising the sale of Massy Communications Ltd to Telecommunications Services of Trinidad and Tobago for TT$215 million.

Massy Holdings took a loss on disposal of TT$34.7 million and that impairment together with Massy Communications operational losses year to date comprise the loss from discontinued operations for the period under review.