Mexican shipowner Grupo TMM has posted a big fourth quarter profit thanks to the spin-off of its shipping unit.
Net earnings to 31 December were MXN 2.43bn ($129.76m), up from MXN 84.6m in 2016.
The company transferred 85% of TMM Division Maritima (TMMDM) to bondholders in December.
This led to its booking a gain of MXN 3.783bn
