September 1, 2026
Margaritaville (Turks) Limited (MTL)
Audited financials for the twelve months ended May 31, 2026:
All figures are stated in US$ unless otherwise indicated.
Margaritaville (Turks) Limited (MTL) for the twelve months ended May 31, 2026, reported an 11% decrease in Revenue totalling US$8.50 million compared to US$9.58 million in the corresponding period last year. Revenue for the fourth quarter declined by 18% to US$2.12 million compared to US$2.60 million for the comparable quarter of 2025.
Cost of Sales amounted to US$2.29 million (2025: US$2.79 million), representing an 18% decrease year over year. Consequently, Gross Profit decreased by 9% to US$6.21 million compared to US$6.79 million for the twelve months ended May 31, 2025. Gross Profit for the fourth quarter amounted to US$1.38 million, compared to US$1.66 million reported for the similar quarter of 2025.
Administrative Expenses decreased by 5% to US$4.63 million from US$4.89 million in 2025, while Promotional Expenses decreased by 2% to US$37,086 from US$37,981 in the prior year. Depreciation and Amortisation decreased by 4% to US$246,606 from US$256,907. As a result, Total Expenses for the twelve months ended May 31, 2026 amounted to US$4.92 million, representing a 5% decrease relative to US$5.19 million reported in 2025.
Operating Profit for the twelve months ended May 31, 2026 amounted to US$1.29 million, representing a 19% decrease from US$1.60 million reported in 2025. Operating Profit for the fourth quarter amounted to US$182,655, compared to US$592,574 in the corresponding quarter of 2025. Finance Costs increased by 10% to US$14,300 from US$13,025 in the prior year.
Consequently, Net Profit for the year amounted to US$1.28 million, representing a 20% decrease from US$1.59 million reported in 2025. Total Comprehensive Income for the year also amounted to US$1.28 million, compared to US$1.59 million in the prior year. Total Comprehensive Income for the fourth quarter amounted to US$189,021, compared to US$604,003 in the corresponding quarter of 2025.
Consequently, Earnings Per Share for the twelve months amounted to US$0.0189, or approximately J$3.00, compared to US$0.0236, or approximately J$3.78. Earnings Per Share for the fourth quarter amounted to approximately US$0.0028, or J$0.44, compared to US$0.0089, or J$1.43, for the corresponding quarter of 2025. The number of shares used in these calculations was 67,500,000.
Notably, MTL’s stock price closed at J$9.42 on August 31, 2026, with a corresponding P/E ratio of 3.17x.
Balance Sheet Highlights
The company’s Total Assets amounted to US$11.33 million at May 31, 2026, representing a 22% increase from US$9.31 million in 2025. The increase was driven primarily by Due from Related Company, which rose to US$8.49 million from US$6.17 million. This was partly offset by lower Property, Plant and Equipment, which declined to US$2.08 million from US$2.28 million, as well as lower Inventories, Trade and Other Receivables, and Cash and Bank Balances.
Shareholders’ Equity increased to US$7.50 million from US$6.22 million in 2025, representing a book value per share of approximately US$0.111, or J$17.60. This compares to approximately US$0.092, or J$14.77.
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