MPC Caribbean Clean Energy Limited (MPCCEL)
For the six months ended June 30, 2024: –
MPC Caribbean Clean Energy Limited (MPCCEL), for the six months ended June 30, 2024, reported total investment income of US$1.60 million (2023: nil).
For the six months ended June 30, 2024, total expenses amounted to US$131,079 relative to US$87,857 booked in 2023. The breakdown for total expenses is as follows:
- Accountancy fees closed at US$8,100 (2023: US$4,000).
- Administrative fees amounted to US$35,957 versus US$37,962 recorded in the corresponding quarter for 2023.
- Advertising Costs decreased to US$7,985 (2023: US$11,323).
- Directors’ fees increased to US$13,500 (2023: US$11,000)
- License Fees remained the same amounting to US$250 for both 2023 and 2024
- Legal and professional fees decreased to US$3,617 (US$10,425).
- Insurance expenses amounted to US$8,805 (2023: US$9,707).
- Bank charges totaled US$2,344 (2023: US$2,440).
- Corporate Fees remained the same as 2023 at $750 for the six months ended June 30, 2024.
No taxes were recorded for the periods under review. Consequently, Net profit for the six months ended June 30, 2024, was US$1.47 million, relative to the net loss of US$87,857 reported for the same period last year.
Earnings per share for the six months amounted to US$0.068 (2023: LPS: US$0.004). The trailing EPS is US$0.145, and the number of shares used in this calculation was 21,666,542 units.
Notably, MPC’s stock price closed the trading period on August 13, 2024, at a price of J$88 and US$0.75.
Balance sheet at a Glance:
Total Assets as at June 30, 2024 closed at US$31.82 million relative to US$28.69 million booked in 2023. This increase was due to an upward movement of ‘Investments -MPC Caribbean Clean Energy Fund LLC’ amounting to US$31.73 million (2023: US$28.58 million).
Shareholders equity amounted to US$1 (2023: US$1).
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 affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein
