Mayberry Group Reports $5.52Bn Net Loss for FY2025, Driven by Hurricane Melissa's Impact on Investment Portfolio

• Mayberry Group Limited (MGL) recorded a significantly wider net loss of $5.52Bn for FY2025, compared to a loss of $724.7Mn in 2024, reflecting substantial valuation losses within its investment portfolio.
• The Group’s core subsidiary, Mayberry Jamaican Equities Limited (MJE), drove the outturn, recording negative revenue of $4.09Bn and a total comprehensive loss of $5.71Bn.
• The deterioration was largely driven by fair value losses on key holdings. Notably, MGL recorded a $3.29Bn decline in the fair value of investments in associates at Fair Value Through Profit or Loss (FVTPL), primarily linked to the fall off in the share price of Supreme Ventures Limited (SVL), whose carrying value fell to $10.59Bn from $13.12Bn. SVL’s share price came under pressure following the economic fallout from Hurricane Melissa (October 2025), which dampened consumer spending and gaming activity. Over 40.0% of SVL's Off-Track Betting locations sustained damages, and this, along with the temporary suspension of lottery draws, cost the company an estimated $4.0Bn in lost revenues. This was compounded by an additional $1.28Bn decline in the fair value of other financial instruments at FVTPL, which further eroded earnings.
• Financing costs continued to pressure profitability. Net interest income remained negative at $331.5Mn, as interest expense of $2.68Bn exceeded interest income of $2.34Bn, with corporate papers and notes contributing $1.89Bn to the interest burden. This highlights the ongoing drag from elevated funding costs.
• Core operating income streams provided some support but were insufficient to offset losses. Consulting fees and commissions grew 22.5% to $989.9Mn, reflecting solid brokerage and portfolio management activity. Additionally, dividend income of $479.8Mn and net unrealised gains on investment properties of $357.2Mn offered partial cushioning against valuation losses.
• Overall, operating cost pressures remained contained, though staff costs trended higher. Operating expenses were broadly stable at $2.75Bn, but staff costs increased to $1.07Bn (from $940.5Mn) despite a reduction in headcount to 107 (from 117), suggesting upward pressure on compensation. A tax credit of $260.3Mn, supported by deferred tax assets linked to approximately $5.38Bn in tax losses, helped moderate the final outturn, resulting in a total comprehensive loss of $6.33Bn for the year.
• With the falloff in its operating performance, MGL's stock price has decreased by 13.2% since the start of the year to close at $6.45 on Wednesday, April 8, 2026. The company has a P/B ratio of 0.64x, below the Main Market Financial Sector average of 1.10x.

(Sources: Mayberry Group Limited & NCBCM Research)