Margaritaville Turks Ltd (MTL) profits up despite hurricanes

• For the year ended May 31, 2018, MTL reported profits of US1.1Mn (EPS: US¢1.6), representing a 114% over the $499 (EP: US¢0.7) reported last year. 
• This came despite a decline of 7.9% in revenues to US$6.0Mn due to disruptions caused by hurricanes which hit Grand Turk in September of 2017.  Recovery was swift, allowing the company to re-open within 2 months.
• The company also received insurance payments of US$646K which boosted its bottom line.
• Sans risk of future natural disasters, the company remains optimistic given the negotiations underway which will see an expansion of the Grand Turk Port coupled with Carnival Corporation substantially increasing its ship size across all their cruise lines.

Source: MTL Audited Financials, NCBCM Research