Mayberry Investments Closes 2017 With Stockholders’ Equity Increasing By JA$2.1B Or 29% To Close The Year At JA$9.4B Or JA$7.79 Per Share.
Gary Peart, Chief Executive Officer for Mayberry Investments Ltd is reporting in the company’s just released 2017 annual report, revenues of JA$2.2 billion, a year-over-year increase of JA$993 million or an increase of 82% when compared to 2016.
This is the third consecutive year the company has recorded in excess of a billion dollars of income as Mayberry celebrates its 33rd year of operations.
Commenting on the financial performance, Mr. Peart reported that the improvements resulted from increases in Corporate financial advisory fees and commissions, as well as unrealized gains on investment revaluation of $1.1 billion.
Corporate Financial Advisory Revenue from Advisory Service grew by 324% year over year, while Brokerage Fees from Debt and Equity were up 185.2% and 203.4%, respectively, over the previous year.
These he said were offset by lower net trading and foreign exchange gains.
Operating expenses for the year 2017, were $1.9 billion which was 78% or JA$847 million higher than 2016, driven by an increase in impairment of investments of $677 million.
Margins & Client Debit Interest income increased over 2016 by 51% with Reverse Repo & Hypothecation Processing Fees recording a growth of 208.8% year-over-year.
The company also achieved an increase of 5.5% in total funds under management moving from J$17.6B to J$18.6B, year over year, driven by Fixed Income portfolio performance as well as an above average increase in their Equities portfolio.
Mayberry Investments closed 2017 with stockholders’ equity increasing by $2.1 billion or 29% to close the year at $9.36 Billion or J$7.79 per share.BM
To view Mayberry Investments Limited 2017 Audited Financial Statements click HERE