Massy Group Annual Report 2018

Massy Group Annual Report 2018 1
Table of Contents 4
Corporate Profile 5
The Massy Group 6
Major Holding & Operating Companies 8
Corporate Information 10
Notice of Annual Meeting 11
Executive Reports 13
Letter from the Chairman 14
Letter from the Chief Executive Officer 17
Letter from the Chief Financial Officer 21
Segment Reports 33
Business Unit Review 34
Automotive & Industrial Equipment 34
Energy & Industrial Gases 40
Integrated Retail 46
Financial Services 54
Information Technology & Communications 60
Other Investments 66
Territories at a Glance 68
Territory Review 69
Trinidad and Tobago 69
Barbados and The Eastern Caribbean 70
Guyana 71
Jamaica 72
Colombia 73
Sustainability Report 75
Governance Reports 85
The Board of Directors 86
Corporate Governance Report 91
The Executive Committee 98
Corporate Requirements 103
The Directors’ Report 104
Management Proxy Circular 107
Statement of Management’s Responsibilities 108
Financials 109
Independent Auditor’s Report 111
Consolidated Statement of Financial Position 122
Consolidated Statement of Profit or Loss 124
Consolidated Statement of Other Comprehensive Income 125
Consolidated Statement of Changes in Equity 126
Consolidated Statement of Cash Flows 128
Notes to the Consolidated Financial Statements 130
Five-Year Review 228

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