VMIL clears losses with tax credits but Melissa adds turbulence
Published:Wednesday | November 26, 2025 | 12:06 AM
VM Investments Limited has produced its best results in the third quarter, after two periods of losses, year-to-date, but is uncertain what the next period will bring as it assesses the operational and economic fallout of Hurricane Melissa.
“Management continues to closely monitor the operating environment based on the recent devastation of Hurricane Melissa, more specifically, the impact on economic variables, investment markets, the execution of our medium-term business strategy and our business lines,” VMIL said at the release of its September quarter earnings report.
The latest quarter cleared earlier losses, but Hurricane Melissa has added turbulence to the company’s trajectory.
The investment company made a profit of $57.3 million in the September quarter, reversing a loss of $6.8 million in the second and a loss of $32.5 million loss in the first. But the positive turn was mostly the result of $53 million of tax credits.
“This recovery demonstrates the company’s capacity to adapt and regain momentum despite persistent market headwinds and geopolitical uncertainties that had constrained deal conversions earlier in the year,” VMIL said.
In a year-on-year comparison, VMIL’s earning trail its performance in 2024.
Quarterly profit of $57.3 million is half the profit of $113.6 million for the comparative July-September period last year; nine-month profit of $18 million, after $73 million of tax credits, is even further off the mark, compared to January-September 2024 outturn of $647 million.