E Gervase Warner says that when he assumed the role of chief executive officer at the Neal and Massy conglomerate in 2009, it was “worse than a baptism by fire”
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Massy increases profit in pandemic
Article by January 21, 2021
Despite the damage inflicted on Caribbean economies by the COVID-19 pandemic, the Massy Group, one of the region’s largest conglomerates managed to grow its after-tax profit by more than 20 per cent last year.
In its recently-released annual report for the year ending September 30, 2020, Robert Bermudez, chairman of the Port-of-Spain-based company, told shareholders the group of companies had shown great resilience during the crisis.
Massy, which has significant interests in Barbados acquired mainly from its takeover of Barbados Shipping & Trading more than ten years ago, earned 29 per cent of its profits from Barbados and the Eastern Caribbean in 2020, 43 per cent from its Trinidad and Tobago operations and 18 per cent from Guyana.