IMPORTANT NOTICE | Mayberry Investments Limited is a cashless institution.

Mayberry Investments Limited is a cashless institution.
Please note that cash deposits into any Mayberry account held at commercial banks, whether made in-branch or via Automated Banking Machines (ABMs), are not accepted and will not be processed. For information on accepted payment methods, please contact your Investment Advisor.

EPLY reports year-end net profit of $238.80 million

April 3, 2023

Net interest income increased 37% to $137.97 million (2021: $100.94 million). For the quarter, net interest income increased 39% to $26.04 million (2021: $18.77 million).

Asset management income increased 29% to $283.34 million (2021: $219.11 million). For the quarter, asset management income increased 94% to $80.14 million (2021: $41.37 million).

Other operating income declined 35% to $91.48 million (2021: $140 million). For the quarter, other operating income declined 36% to $50.94 million (2021: $79.53 million).

Administrative expenses increased 15% to $243 million (2021: $211.69 million). For the quarter, administrative expenses increased 18% to $74.67 million (2021: $63.09 million).

Net impairment of financial and contract assets increased 97% to $2.90 million (2021: $1.47 million). For the quarter, net impairment of financial and contract assets increased 53% to $2.78 million (2021: $1.81 million).

Share of net profit from joint venture declined 86% to $2.94 million (2021: $21.58 million). For the quarter, share of net loss from joint venture declined 61% to $59,000 (2021: $153,000).

Profit before taxation increased 1% to $269.84 million (2021: $268.47 million). For the quarter, profit before taxation increased 7% to $79.61 million (2021: $74.61 million).

Taxation charges increased 84% to $31.05 million (2021: $16.83 million). For the quarter, taxation charges soared to $28.96 million (2021: $893,000).

Net profit declined 5% to $238.80 million (2021: $251.63 million). For the quarter, net profit declined 31% to $50.65 million (2021: $73.72 million).

Total comprehensive income declined 10% to $240.53 million (2021: $266.09 million). For the quarter, total comprehensive income declined 41% to $50.34 million (2021: $84.67 million).

Earnings per share (EPS) amounted to $1.24 (2021: $1.31). For the quarter, EPS amounted to $0.26 (2021: $0.38). The total amount of shares outstanding used for this calculation was 192,468,300 units. EPLY last traded at $37.00 on April 3, 2023 with a corresponding P/E ratio of 29.82 times.

Balance Sheet Highlights:

Total assets as at December 31, 2022 amounted to $5.61 billion (2021: $5.52 billion), an increase of 2% year over year. This is primarily attributed to a 56% increase in ‘Cash and Deposits’ to $1.03 billion (2021: $661.40 million).

Shareholder’s Equity as at December 31, 2022 increased 1% to $1.10 billion (2021: $1.09 billion). This resulted in a book value per share of approximately $5.69 (2021: $5.66).

 

Disclaimer:

Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.

Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.

More Stories from the Market
shutterstock_148562033
May 29, 2026   Supreme Ventures Limited (SVL) has advised that during the period May 27 to 28, 2026, a related entity purchased a total of …
shutterstock_453968572
May 29, 2026   Barita Investments Limited (BIL) has advised that Cornerstone Trust & Merchant Bank and JN Fund Managers Limited have re…
shutterstock_453968572
May 29, 2026   Spur Tree Spices Jamaica Limited (SPURTREE) has advised of the appointment of Mrs. Rani Badaloo to the Board of Directors in…
shutterstock_453968572
May 29, 2026   Jamaica Stock Exchange Limited (JSE) has advised that at a meeting of the Board of Directors held on May 28, 2026, Messrs. S…
shutterstock_342262439
May 29, 2026   Caribbean Cement Company Limited (CCC) has advised that at a meeting of its Board of Directors to be held on June 10, 2026, …
MIL
May 29, 2026 Mayberry Jamaican Equities Limited (MJE) has advised that the daily Net Asset Value (NAV) for May 21, 2026, was J$8.16. MJE’s closing …
shutterstock_382756177
May 29, 2026 FosRich Company Limited (FOSRICH) Unaudited financials for the first quarter ended March 31, 2026: FosRich Company Limited (FOSRIC…
shutterstock_453968572
May 29, 2026   United States: US Merchandise-Trade Deficit Narrows on Rise in Exports   The US merchandise-trade deficit narrowed …