Mayberry post good Q1 numbers

Mayberry_banner600X250Mayberry Investments released first quarter results for 2015, showing earnings of $82 million or 7 cents per shares, after booking the full amount of asset tax amounting to $49 million in the quarter. In the prior year the company reported profit of $76 million or 6 cents per share reflecting total asset tax of $6 million. The quality of the earnings is encouraging with no one area being dominant especially areas that are less predictable such investment gains. Helping with the improved results are increases in net interest income amounting to $22 million as interest expenses fell while interest income held close to 2014 levels, dividend income rose by $29 million and trading gains by $18 million as other operating expenses fell by $25 million and bad debts declined by $14 million. The improvements were offset by a fall out of the share of profits of $31 million from the former associate, Access Financial Services. Based on these latest results, profit for the full year should come in around 30 cents per share. Profits should, however, get a big boost from stock market gains, with the upward movement of stock prices since the end of the first quarter as well as increased commission from equity trading with volumes in the overall market increasing around 40 percent so far this year. Mayberry is likely to see substantial gains in the equity portfolio which stood at $3 billion at the end of December last year, with the recovery in the local stock market, to date with more expected during the remainder of the year. IC Insider sees the gains to be had from the large pool of equities as the most appealing attraction for future gains from an investment in this investment bank’s stock, accordingly, the stock is seen as Buy Rated for medium to long-term investment.
Total assets climbed to $23.7 billion from $21.8 billion at March 2014 with equity of $4.3 billion and the stock last traded on the Jamaica Stock Exchange on Friday at $2.75, close to a PE of 9 based on this year’s estimated earnings.

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  1. […] with 42,577 units trading, JMMB Group traded 1,098,727 units but rose 4 cents to end at $10.95. Mayberry Investments had 50,655 shares changing hands at $4.60, National Commercial Bank traded 44,444 shares and gained […]

  2. […] Exchange with 48.7 million units resulting from a cross executed by Sagicor Investments at $1.50. Mayberry Investments bought over 2 million units at $1.50. Supply for the stock has been declining for a while with […]

  3. […] traded at intraday high as 26,456,207 units valued at $400,593,508 changed hands in all markets, Mayberry Investments traded 10.7 million units and the Jamaica Stock Exchange with 5.9 million units and 4 others trading […]

  4. […] of 5 cents at $11.95. Kingston Wharves traded 80,823 units but lost 5 cents to close at $11.15, Mayberry Investments traded just 2,540 shares and lost 8 cents to end at $4.72, National Commercial Bank ended with a […]

  5. […] units and fell 95 cents cents to end at $12, Kingston Wharves traded 23,575 units at $11.25. Mayberry Investments traded 426,379 shares and gained 5 cents to end at $4.70, National Commercial Bank fell 2 cents to […]

  6. […] hands. Kingston Wharves gained just 1 cent to close at $11.35 with 40,200 shares changing hands, Mayberry Investments had 64,197 shares trading at $4.35 for a loss of 5 cents, National Commercial Bank lost 20 cents to […]

  7. […] to close at $10.80, Kingston Wharves traded 3,300 units to close with a loss of 40 cents at $11.10. Mayberry Investments rose 28 cents to end at $4.49 while trading 84,832 share, National Commercial Bank with 73,350 […]

  8. […] traded 44,395 units to close at $11.10 for a 52 weeks’ closing high, after rising by 10 cents,Mayberry Investment rose 10 cents to end at $4.20 by trading 54,500 shares. National Commercial Bank with 47,367 shares […]

  9. […] in trading 220,241 shares to close at $9.90. Kingston Wharves traded 32,278 shares to close at $9, Mayberry Investments traded 17,435 shares and gained 14 cents to end at $3, National Commercial Bank closed with a gain […]

  10. […] Jamaica Stock Exchange gained 30 cents in closing at $7.50 with 143,900 shares changing hands. Mayberry Investments traded 15,006 shares at $2.60 at the close with a gain of 25 cents, National Commercial Bank closed […]

  11. […] June to July most years and peaks in mid-May the following year. IC Insider picked 10 stocks from Mayberry Investments’ daily recommendations along with their PE ratios to see how they matched up with that of Barita’s […]

  12. […] changed hands, 18,996,993 units were bought through Victoria Mutual Wealth Management and sold by Mayberry Investments from house inventory at 3:17:44 PM with a value of $36,094,287. Trading ended with just 23 […]

  13. […] Stock Exchange traded 70 cents up at a new high of $9 with only 9,990 shares changing hands. Mayberry Investments had 50,000 shares trading at $3.40, National Commercial Bank traded 62,888 shares at $30, Palace […]

  14. […] of 20 cents, Kingston Wharves ended with 699,999 shares changing hands at $7.05, to gain 5 cents. Mayberry Investments had 116,000 shares trading at $3.50 to gain 40 cents, for a new 52 weeks’ high, National […]

  15. […] of 63 cents. The Jamaica Stock Exchange stock traded 67,824 units at $6.80, for a loss of 20 cents, Mayberry Investments had 292,002 shares trading at $3.10 to gain 10 cents. National Commercial Bank had 35,410 shares […]

  16. […] traded 12,229 shares in closing at $7. The stock traded at a 52 weeks’ intraday high of $7.01, Mayberry Investments traded 123,703 shares to dip 7 cents at $2.53, National Commercial Bank declined by just 1 cents in […]

  17. […] valued at $6,906,793, Lasco Manufacturing had trading in 3 million shares, all the sale was done by Mayberry who crossed the bulk of them on behalf of clients. The JSE Junior Market Index declined 1.84 points […]

  18. […] at $7.50, Kingston Wharves put on 30 cents in closing at $7 having traded just 2,900 units. Mayberry Investments traded 252,867 shares to close at $2.60 after shedding 30 cents, National Commercial Bank lost 44 […]

  19. […] 12 junior market stocks, with Cargo Handlers trading 205,972 units at a new high of $22.29 as Mayberry Investments crossed the shares from their in house inventory to a client. Four new 52 weeks’ highs have been […]

  20. […] Mayberry Investments bought 244,505,426 shares in Lasco Investments over the stock exchange floor today to be the dominant trade on the Jamaica Stock Exchange. Lascelles Chin was the major seller with 218,797,608 units, leaving approximately 160 million units directly in his name. Joel Izquierrdo Gonzalez who had 14,515,000 shares seems to have disposed of his holdings as well, Mayberry crossed another 10 million units to cement the major part of the trade for the day. Chin confirmed the sale and indicated that Mayberry now has 20 percent and it’s a win, win proposition for both entities. Lasco Financial has 1,228,102,990 Ordinary shares of no par value that are issued. Lasco just reported full year reulsts with profit of $189.5 million just up from $178.2 million in 2014, the company reported just $10 million profit in the last quarter to March versus $41 million in the same period in 2014.Mayberry previously owned around 39 percent of Access Financial Services which they divested last year for approximately $1 billion. Some of the funds are being invested in this and other entities. It could well be that Mayberry will eventually buy more shares in the company. Elsewhere in trading pick on the Junior Market with 11 securities trading, and ended with 245,363,622 units changing hands valued at $315,546,759. The JSE Junior Market Index declined 21.64 points to close at 856.43, with the price of 2 stocks advancing and 6 declining. At the close of the market, there were only 2 stocks with bids higher than their last selling prices and 4 with lower offers. The junior market ended with 4 securities closing with no bids to buy and 9 securities that had no stocks being offered for sale. Stocks trading in the junior market are, Access Financial Services ending with 61,836 shares changing hands 10 cents lower at $17, Blue Power closed with 1,700 shares trading at $9.50, in losing 30 cents. Caribbean Cream finished with 81,200 units with a loss of 11 cents at $1.08, Caribbean Producers with 51,724 shares trading, was unchanged at $3, <a href="; title="Profit up at General Accident but just”>General Accident Insurance concluded trading with 187,684 shares changing hands to close 7 cents lower at $2. Honey Bun finished trading with just 500 shares to close 11 cents higher, at $2.62, Knutsford Express Services ended with 3,437 shares unchanged at $6. Lasco Distributors traded 289,032 shares, 15 cents lower, at $1.55, Lasco Financial Services finished trading with 244508476 units in total between $1.28 and $1.45 to settle at $1.30, there were 170,033 shares of Lasco Manufacturing traded to close lower by 5 cent at $1.25 and 8,000 Paramount Trading shares traded at $3.80 for a 4 cents gain. […]

  21. […] 13.39 points to 882.38 points a then record. Several very small trades executed on the sell side by Mayberry Investments at 12.52 pm pushed the prices of several stocks […]