Mayberry’s Profit Plummets

• Mayberry’s net profit for the six-month ended June 2019 plummeted to $97.17Mn (EPS: $0.09) which is a 79.5% drop from the $474.72Mn (EPS: $0.35) recorded in 2018.
• Rising expenses and falling revenues have significantly contributed to the deterioration in performance. A decline in the net interest income and other revenues by $195.57Mn (or 16.2%), together with a 28.7% increase in operating expenses were the main drivers behind the pull-back in the company’s performance.
• The stock has fallen 2.3% since the start of the calendar year, closing yesterday’s trading session at $8.91 per share. At its current price, the stock now trades at a P/B of 0.54x book which is below the Main Market Financial sector average of 2.49x.

(Source: Mayberry Investments Limited Financials)