March 03, 2026
Margaritaville (Turks) Limited(MTL)
Unaudited financials for the six months ended November 30, 2025:
All figures stated in USD unless otherwise stated
Margaritaville (Turks) Limited (MTL) for the six months ended November 30, 2025, reported an 8% decrease in revenue to $4.09 million, compared to $4.44 million in the corresponding period last year. Revenue for the second quarter decreased 13% to $1.65 million, compared with $1.91 million in the comparable quarter of 2024.
Cost of Sales amounted to $985,521 (2024: $1.19 million), representing a 17% year-over-year decrease. Consequently, gross profit decreased by 5% to $3.11 million compared to $3.25 million for the period ended November 30, 2024. The company booked gross profit of $1.27 million for the second quarter, down from $1.39 million in the comparable quarter of 2024.
Administrative Expenses decreased by 15% to close at $2.16 million (2024: $2.56 million), while Depreciation and Amortisation increased by 16% from $116,499 in 2024 to $135,144 in the period under review. As a result, total expenses for the quarter ended November 30, 2025, amounted to $2.31 million, a 14% decrease relative to $2.69 million reported in 2024.
Operating profit for the period ended November 30, 2025, amounted to $793,290, a 40% increase relative to $567,444 reported in 2024. Operating profit for the second quarter amounted to 207,316 (2024: $172,741). Other operating expenses totalled $11,661, a 12% increase from the corresponding period last year. (2024: $10,412).
Finance cost for the period ended November 30, 2025, amounted to $3,267, a 58% decrease relative to $7,775 reported in 2024. Finance cost for the second quarter amounted to $1,392 (2024: $ 3,675).
The company didn’t recognize any tax expenses over the period ended November 30, 2025. As such, Total Comprehensive profit for the period amounted to $778,347, a 42% increase from the $549,138 reported in 2024. For the second quarter, Total Comprehensive profit was $205,364 (2024: $160,561).
Consequently, Earnings Per Share for the six months amounted to $1.15 (2024: EPS: $0.81), while Earnings Per Share for the quarter totaled $0.30 (2024: EPS: $0.24). The twelve-month trailing EPS was $0.03, and the number of shares used in these calculations was 67,500,000. Notably, MTL’s stock price closed at J$13.44 on March 02, 2026, with a corresponding P/E ratio of 3.13x.
Balance Sheet Highlights
The company’s assets totalled $10.63 million (2024: $8.23 million). The increase in the company’s total asset base is driven primarily by a 259% YoY increase in Trade and other receivables, ending at $368,906 (2024: $102,688) and a 49% YoY increase in Owing by related companies, ending at $7.67 million (2024: $5.15 million).
Shareholders’ equity was $7.00 million (2024: $5.18 million), representing a book value per share of $0.10 (2024: $0.08).
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.
