Mayberry Jamaican Equities Limited (MJEL) records losses for Q1

• For the three-month period ended March 31, 2019, Mayberry Jamaican Equities reported an unaudited net loss of $157.8Mn (EPS: -$0.13) which represents a considerable loss relative to the $157.2Mn profit recorded in the corresponding period of 2018.
• The primary contributor to the outcome over the period was a loss experienced in Net Interest Income and Other Revenues, which moved from $235.11Mn in 2018 to -$43.32Mn in 2019.  In particular, this was caused by a significant unrealized loss on investment revaluation of $71.8Mn for the period, down from a $176Mn gain recorded one year prior.
• There was also a significant increase in operating expenses, which was up 31.6% year-on-year to $116.1Mn. 
• The stock has fallen 5.40% since the start of the calendar year, closing yesterday’s trading session at $8.76 per share.  At this price MJEL currently trades at a P/B of 0.64x earnings which is below the Main Market Financial Sector average of 1.98x.

(Source: MJE Financial Statements)