Gary Peart

Main Event IPO within 2 weeks

December 16, 2016 by IC Insider.com

Main Ev Sign With revenues posited to be in the range of $1 billion to $1.5 billion for 2015, Main Event Entertainment should be coming to the public within two weeks subject to Financial Securities Commission effectively signing off on the prospectus.
The company is expected to raise between $100 million to $200 million at a price between $1.50 and $3.50, stockbroker for the deal, Gary Peart of Mayberry Investments told investors at a briefing today. IC Insider gathers that the amount to be raised, is likely to be $150 million, putting the PE ratio in the 10-12 range.
According to Peart, the valuation for the company is in the range of $500 million – $700 million. Between 20 to 40 percent of the shares will be offered in the IPO. Proceeds of the issue will be used to expand services particularly to Montego Bay where Solomon Sharp, Chief Executive says has a big market for his products and services. Funds will also be put into new equipment to meet increasing demand. According to Sharp, demand is such that they have had to turn away business. The additional equipment will allow for more business to be undertaken simultaneously.
Main Event Entertainment Group, a unique company that is in the business of management of event as well as producing their own production. The company provides event management, production, audio, video, lighting, staging, roofing, power supply, digital signage and management, concept development, creative development, infrastructural build-outs.

Three of the company’s directors

The company generates revenues from Digital boards spread across 22 countries in the Caribbean some a few Central American countries mostly for screens in Digicel stores with more than 100 screens for which they generate up US$225 for month for maintaining and updating them. They also supply and service menu boards for other entities with the latest to sign on being Wendy’s on board, the company provide outdoor signage in the form of advertising billboards.
The principals include Solomon Sharpe, CEO and formerly of Desnoes and Geddes, Richard Bair, Chief Operating Officer, formerly employed at Porter Brothers and Donna Waithe, Director HR and Administration with 23 years of experience in the aviation sector at Air Jamaica. The company was established 2004 and employs between 51 and 200 full time and part time employees.
The Board of directors include Hugh Graham, Solomon Sharpe, Donna Waithe, Richard Bair, Tania Waldron-Gooden, Harriat Maragh, chairman and Dr. Ian Blair.
The company have as its clients many blue chip Jamaican companies, including Scotia Group, National Commercial Bank, Flow, Desnoes and Geddes to name a few.

Filed Under: Company News, Initial Public Offers, Stock Market, Stocks to watch Tagged With: Desnoes and Geddes’, Donna Waithe, Flow, Gary Peart, Harriat Maragh, Hugh Graham, Main Event Entertainment Group, National Commercial Bank, Richard Bair, Scotia Group, Solomon Sharpe, Tania Waldron-Gooden

Mayberry Q1 profit hardly moved

May 3, 2016 by IC Insider.com

MIL Total comprehensive income for the March quarter at investment bankers, Mayberry Investments, increased 165 percent to $364 million, compared to $137.6 million in the 2015 quarter. The more investment sensitive number, net profit, was just $94 million compared to $82 million in the corresponding 2015 quarter.
Earnings per share ended at 8 cents, up from 7 cents in 2015, making the stock at $3.40, fully priced based on current market valuation measures. Profit was boosted by $209 million in realised trading gains compared with $53 million in 2015 but suffered from unrealised investment loss of $94 million versus a gain of $12 in 2015.
Income from fees and commissions jumped 204 percent to $38.9 million. Net interest income suffered a reduction of 34 percent or $33.4 million to reach $65 million, dividend income declined from $57 million to $18.6 million and net foreign exchange gains ended at $34 million, down from $40 million.
The decrease in net interest income was as a result of the reduction in the size of the repo portfolio. A general decline in the global bond market due to speculation about US interest rates and changes in the market conditions which impacted the bond prices in the portfolio.
Operating expenses for the period rose 27 percent to $204 million from $161 million for the corresponding period in 2014, “The increase in expense is due to increased costs for consultancy as well as legal and professional services” Gary Peart, Chief Executive Officer stated. Additional provision for credit losses of $7.5 made during the period compared to a write back during 2015 of $5 million contributed to the increase.

Gary Peart, Chief Executive of Mayberry Investments.

The asset tax for 2016 was $31 million compared to $49 million in 2015 due to the reduced company’s total assets. “During the period liabilities were reduced by $4.6 billion as the company increased efforts to reduce the size of our repurchase agreements (repos). Repos at the end of March were $7.8 billion compared to $13.7 billion”, Peart said. The reduction in repo resulted in the asset base shrinking to $21.4 billion from $23.7 billion at March 2015. Growth in the investment portfolio and investments in associated companies supported by increased borrowing helped in preventing a larger decline. Total liabilities fell to $14.8 billion from $19.4 billion as of March 2015.
The group made investments in four associated companies since July 2015, making Lasco Financial Services, Blue Power Group, Caribbean Producers and Iron Rock Insurance Company associates and contributed $28 million in profit, there was no income from associates in the 2015 period.
At the end of the period stockholders’ equity was $6.6 billion, an increase of $2.3 billion over the corresponding period in 2015. Net book value ended at $5.50 per share and big premium to the last traded price of $3.40 on the Jamaica Stock Exchange.

Filed Under: Company News, Company Results Tagged With: Blue Power Group, Gary Peart, Iron Rock Insurance, Jamaica Stock Exchange, Lasco Financial, Mayberry Investments

Post budget stock growth seen

May 1, 2016 by IC Insider.com

Gary Peart, Chief Executive of Mayberry Investments.

Jamaican stocks declined since reaching record levels between January and early February, ahead of the general elections held in late February, but Gary Peart, Chief Executive officer of Mayberry Investments expects the price of Jamaican stocks to continue to grow in 2016 after the completion of the 2016/7 budget debate.
The local stock market doubled in 2015 and reached a peak earlier in 2016, declined in the run up to and after the general election. The All Jamaica Index closed on a high of February 4, at 183,366.39 points, gaining 9.6 percent for the year but declined to 170,638.70 on the day of election, on February 25, since then it has fallen further as low as 164,504.76 on April 21 and now sits at 166,630.36 just below the 2015 close of 167,363.25.
The junior market that peaked at 2,357.20 points on January 12 for an increase of 31 percent since December, declined as low as 1,762.87 on April 7, with some recovery since, to close at 2,064.85 on the last trading day of April and is up compared to the 1,791.05 points the market closed out 2015 at.
According to Peart, in an executive commentary on Mayberry’s March 2016 quarterly report, things should change after the current budget presentation.
According to Peart, “Despite the reduced enthusiasm from investors as the market awaits the outcome of the 2016/2017 budget, we believe that the confidence in the market will continue and the volumes and transaction levels in the equities market will grow as the equity market continues to outperform fixed income securities investments. The Government has committed to keeping the incentives for the Junior Stock Exchange in place and we consider this a positive move for achieving growth in the economy whilst increasing investors’ returns.”

Filed Under: JSE Main Market, Stock Market Tagged With: Gary Peart, Jamaican Stock, Mayberry, Mayberry Investments

Peart & James for Access Board

September 3, 2014 by IC Insider.com

Add your HTML code here...

Access Financial Services has advised of the appointment of Messer’s Neville James and Gary Peart as shareholder Directors to the board of the company. The appointments will take effect at the end of the Annual General Meeting scheduled for September 10.
James represents the his family side, while Peart will represent Mayberry Investments, one of the major shareholders in Access.
The appointments will increase the number of board members, but still leave the board short of adequate number of independent directors to help guide the company and try to bridge the differences that have developed over the past few years, between the two major shareholders. The company needs some directors who will see to the monitoring and maintenance of corporate governance and good corporate practices, the absence of which resulted in some of the issue that is the subject of the dispute that is now the subject of a court battle.
Following the announcement by Access, Lasco Financial Services advised of the resignation of Gary Peart from the Board of Directors of the company, with effect from September 2, 2014. This removes a conflict that existed, with Peart being a director of Mayberry as well as a director of Lasco Financial Services.