MASSY Q1 Dec 2020 Results

?Revenue⬆️1.4% to TT$3.2b
?Profit⬆️13% to TT$188m

Massy Group is an investment holding / management company with three main investment portfolios:
?Integrated Retail
?Gas Products &
?Motors & Machines
?as well as other legacy lines of business

?Geographically, 38% of revenue came from T&T, Barbados 22%. Jamaica only 4%

?Over 60% of the group’s revenue this qtr. came from Integrated retail

?Business has positive Operating Cash Flow, but Free Cash Flow may be negative due to its Investing Activities (not broken out)

Integrated Retail includes
?Stores – 47 retail locations in 5 markets in the Caribbean
?Distribution – services supermarkets, groceries, pharmacies, hospitals, variety stores etc
?Trading – manages the distribution of various product lines

The next big contributor is the Motors and Machines segment

This includes
?Massy Motors – automotive dealerships
?Massy Machinery – leading supplier of products and services in the construction, marine, energy, industrial, commercial, automotive and agricultural sectors

The stock is
??-1.46% since Jan (TTSE Index up 0.08% YTD)
?2020 it was ?-0.02%
?But 2019 it had a big year ⬆️30%

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