Stock Market conditions pushes Mayberry deeper into loss

 


Mayberry Jamaican Equities Limited reported a net loss of J$2.2 billion for the three months ending March 31, 2025, this compared to a loss of J$1.3 billion for the corresponding period in 2024.

This performance was attributed mainly to net unrealised losses on investments of J$1.9 billion for the period, compared to unrealised losses of J$1 billion for the similar quarter last year.

Total operating expenses for the quarter ended March 31, 2025 decreased by J$649K to J$47 million or 1.4 per cent when compared to the corresponding period in the prior year.

This resulted in a loss per share (LPS) of J$1.82 (2024: (LPS) J$1.05).

The Company recorded total comprehensive loss of J$2.4 billion for the three-month period ended March 31, 2025. This compares to a total comprehensive loss of J$843 million for the similar quarter in 2024.

Other comprehensive loss accounted for J$237 million compared to other comprehensive income of J$424 million for Q1 2024 due to a decline in the fair value of equity investments carried at fair value through other comprehensive income (FVTOCI).

For the quarter ended March 31, 2025, net operating loss amounted to J$2.1 billion compared to net operating loss of J$1.2 billion.

 Dividend income declined by J$30 million or 99 per cent with lower dividends declared on some major holdings.

Unrealised losses on investments in associates totaled J$1.5 billion for the three month period to March 31, 2025. This compares to unrealised losses of J$973 million for the corresponding quarter in 2024.

 The results was attributed to reductions in the market price of key associates related to general stock market conditions.  

Net unrealized losses on financial instruments at FVTPL totalled J$422 million, this compares to a loss of J$33 million for Q1 2024.

 Operating Expenses Total operating expenses amounted to J$47 million for the quarter representing a decrease of J$649K or 1.4 per cent when compared to Q1 2024.

The reduction was mainly attributable to lower expenses incurred for management fees.

 Total assets as at March 31, 2025 were valued at J$21 billion. This represents an 11% decrease from the J$23.6 billion reported as at December 31, 2024.

 The J$2.6 billion decrease was mainly attributable to a J$1.6 billion or 11 per cent decrease in the carrying value of investments in associates, primarily due to the downward price movements for some key securities in that portfolio. This is in addition to a J$1 billion decrease in investment securities on account of net disposals to the portfolio.

Total liabilities amounted to J$5.6 billion as at March 31, 2024, compared to J$5.7 billion for December 31, 2024 as no additional debt was taken on.

Source: Jamaica Stock Exchange

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