The event, which was held at the Courtleigh Hotel, gathered shareholders, investors, and other stakeholders eager to gain insights into the Company's remarkable achievements and future prospects.
Mayberry Investments reported outstanding financial performance for the fiscal year, with group earnings reaching an impressive $7 billion, representing a remarkable 55% increase compared to the previous year. This substantial growth was driven primarily by $5.2 billion in unrealized fair value gains from MJE’s portfolio of Jamaican listed equities and. Additionally, the Company distributed $173 million in dividends, reaffirming its commitment to rewarding shareholders.
CEO of Mayberry, Gary Peart highlighted the Company's robust capital position, stating “with shareholders’ equity soaring to $16.8 billion from $10.8 billion over the past five years, this demonstrates the significant growth in the Company’s capital base The Company's net profit surpassed $4 billion for 2022, showcasing its strong financial stability and our prudent investment strategies. Despite the challenges posed by the COVID-19 pandemic, Mayberry displayed resilience and has consistently delivered positive financial results,” he opined.
Mayberry’s Chairman, Chris Berry confidently outlined the Company's strategic outlook for 2023 and beyond. He expressed that despite facing market headwinds during the first half of the year, Mayberry astutely navigated the challenges and executed several strategic deals, positioning the Company for sustained growth in the coming years.
He expressed optimism about the stability of interest rates, anticipating no further increases and signalling a favourable environment for businesses to access capital at reasonable
rates. According to Chris Berry “ This environment fosters increased economic activity and confidence, spurring positive growth for the Company in the short to medium term. Our projections suggest a strong market performance over the next 18 months, leading into 2025, with shareholders poised to benefit from this growth trajectory.”
The meeting further highlighted the strength of the Company's diversified revenue streams, which encompass equities, real estate, currency trading, and investment banking. These varied investments strategically positioned the Company to capture opportunities in different asset classes, mitigating risks and enhancing returns for shareholders.
Notably, Gary Peart addressed the undervalued nature of Mayberry's stock, emphasising that the Company's book value significantly exceeds its current market price. This discrepancy represents a unique investment opportunity for shareholders to capitalise on potential market gains and long-term value creation.
The Company is committed to deliver consistent dividends and increasing shareholder value. Peart reiterated that “Mayberry's long-term investment approach prioritises identifying undervalued assets, providing shareholders with the potential for robust returns over time.”
During the Q&A session, shareholders inquired about Mayberry's cybersecurity measures. The CEO responded by outlining the Company's significant investments in enhancing cybersecurity infrastructure, hiring cybersecurity experts, and implementing strict protocols to protect sensitive data. These measures underscore the Company's dedication to safeguarding clients' information and mitigating cyber risks effectively.
Peart expressed gratitude to the board, fellow directors, employees, and clients for their collective contributions to Mayberry's success. He extended his appreciation to the shareholders for their steadfast support throughout the Company's journey.
The meeting concluded with Peart reiterating Mayberry Investments' commitment to growth, value creation, and lasting relationships with stakeholders. He reaffirmed the Company's focus on delivering consistent returns and creating long-term value for all shareholders.
Mayberry Investments Limited continues to excel as a leading financial powerhouse, delivering exceptional results and creating value for its clients and shareholders alike.
