MJE Realizes 539.4% Increase in Bottom-line YTD  

 

• Mayberry Jamaica Equities (MJE) reported a net loss of $2.31Bn in its most recent quarter, owing to net unrealised losses on investments in associates of J$2.2Bn and net unrealised losses on local equities of J$102Mn due to slowed market activity amidst the ongoing challenges of uncertainty in global and local markets.
• However, for its nine months ending September 2022, the company realized a net profit of J$4.14Bn (+539.4%) owing gains on investments in associates recorded in Q1 and Q2 2022.
• The company could report another quarter of losses in Q4 as performance may continue to fall off due to the slowdown in equity and bond markets as interest rates continue to rise.
• MJE’s stock price has increased by 44.3% since the start of the calendar year. The stock closed Wednesday’s trading session at $13.00 and currently trades at a P/E of 2.6x which is below the Main Market Financial Sector Average of 11.4x.

(Source: Company Financials)