April 15, 2026
Margaritaville (Turks) Limited (MTL)
Unaudited financials for the nine months ended February 28, 2026:
All figures stated in USD unless otherwise stated
Margaritaville (Turks) Limited (MTL) for the nine months ended February 28, 2026, reported a 9% decrease in revenue to $6.38 million, compared to $6.98 million in the corresponding period last year. Revenue for the third quarter decreased 10% to $2.29 million, compared with $2.54 million in the comparable quarter of 2025.
Cost of Sales amounted to $1.55 million (2025: $1.85 million), representing a 16% year-over-year decrease. Consequently, gross profit decreased by 6% to $4.83 million compared to $5.13 million for the period ended February 28, 2025. The company booked gross profit of $1.72 million for the third quarter, down from $1.88 million in the comparable quarter of 2025.
Administrative Expenses decreased by 11% to close at $3.50 million (2025: $3.93 million), while Depreciation and Amortisation increased by 11% from $174,749 in 2025 to $193,559 in the period under review. In addition, promotional expenses increased by 17% amounting to $21,684 (2025: $18,487). As a result, total expenses for the nine months ended February 28, 2026, amounted to $3.72 million, a 10% decrease relative to $4.12 million reported in 2025.
Operating profit for the period ended February 28, 2026, amounted to $1.11 million, a 10% increase relative to $1.01 million reported in 2025. Operating profit for the third quarter amounted to $316,231 (2025: $443,698), a 29% decrease. Other operating expense totalled $16,277, a 30% increase from the corresponding period last year (2025: $12,559).
Finance costs for the period ended February 28, 2026, amounted to $4,355, a 60% decrease relative to $10,918 reported in 2025. Finance costs for the third quarter amounted to $1,088 (2025: $3,143).
The company did not recognize any tax expenses over the period ended February 28, 2026. As such, Total Comprehensive profit for the period amounted to $1.09 million, a 10% increase from the $986,589 reported in 2025. For the third quarter, Total Comprehensive profit was $310,636 (2025: $437,451), a 29% decrease.
Consequently, Earnings Per Share for the nine months amounted to 1.61 US cents (2025 EPS: 1.46 US cents), while Earnings Per Share for the quarter totalled 0.46 US cents (2025 EPS: 0.65 US cents). The twelve-month trailing EPS was 2.51 US cents, and the number of shares used in these calculations was 67,500,000. Notably, MTL’s stock price closed at J$11.25 on April 14, 2026, with a corresponding P/E ratio of 2.86x.
Balance Sheet Highlights
The company’s total assets stood at $10.97 million, up from $8.86 million in the prior period last year. The growth in the asset base was driven primarily by a 28% increase in Owing by related companies, rising to $7.87 million from $5.63 million (Feb 28, 2025), alongside a 9% increase in Inventories to $627,996 from $575,651.
Shareholders’ equity was $7.31 million (Feb 28, 2025: $5.62 million), representing a book value per share of US$0.11 (Feb 28, 2025: US$0.08).
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