The Neal & Massy Group of Companies continued to perform strongly throughout 2012. The Group’s Profit Before Tax (PBT) from Continuing Operations grew by 25.4 percent from $640 million to $802 million, a record high for the Group.

In 2011 the Neal & Massy Group experienced mixed performance levels. While the majority of the Group’s subsidiaries performed well and demonstrated the growth we anticipated for 2011,  many factors  erased the gains the subsidiaries made and reduced the Group’s overall Profit Attributable to Shareholders.

Given the difficult economic conditions that prevailed over the past year, the performance of the Neal & Massy Group has been commendable. The Group weathered declines in tourism, energy, construction and automotive sectors throughout the Caribbean and precipitous declines in the foreign exchange rate in Jamaica.

During the year the Group reached another significant milestone in its 85 year history with the acquisition of The Barbados Shipping & Trading Company (“BS&T”), a major Barbados corporation.

Our strong performance resulted from significant growth of 21% in revenue, coupled with strict control over expenses. All our Business Units contributed to the sales growth with organic sales, which exclude the impact from new acquisitions made

The turmoil in the world’s commodity markets (especially lead), upheaval in the shipping industry and the scarcity of key raw materials contributed to this state of affairs.