Higher revaluation gains from invested stocks resulted in Mayberry posting good earnings and assets growth for 2019.
Total comprehensive income grew by US$5 million or 18 per cent to end 2019 at US$33.6 million. The income earned in 2018 was US$28.5 million. This growth in 2019 was due to higher revaluation gains, resulting from positive price movements for stocks held in the equity portfolio based on Mayberry’s justreleased 2019 audited financial statements.

The Mayberry building on Oxford Road in New Kingston

Total assets grew to US$151 million for the year ended December 31, 2019 compared to US$119 million for the comparative 2018 period. This represents US$32 million or a 27 per cent increase in asset base due mainly to increased value of quoted equities, particularly Wigton Windfarm, Derrimon Trading, Lasco Financial Services, Jamaica Broilers, General Accident Insurance Company, Lasco Manufacturing, Honey Bun, Jamaica Teas, Jamaica Money Market Brokers, and Supreme Ventures.
The net book value per share moved to US$0.11, a 22 per cent increase over the corresponding period in 2018. This represents a balance of US$144 million as at December 31, 2019, compared to a value of US$110M at the end of December 2018.
Retained earnings for the period under review moved from US$31 million in 2018 to US$41 million. During the year, Mayberry continued to enhance its portfolio resulting in additional shares being purchased in Derrimon Trading.
This made Mayberry the second-largest shareholder with approximately 410 million shares in hand. Mayberry also acquired additional shares in Wigton Windfarm and closed 2019 with 755 million in hand, resulting in the stock being the seventh top shareholding in its equity portfolio.
The total volumes of stocks purchased for the last quarter of 2019 amounted to 466 million, whereas total volumes sold amounted to 36 million. For 2019, the company purchased 1.4 billion units versus sales of 155 million units, making Mayberry a net purchaser of stocks for this period.
Mayberry reports that it currently holds stock in 30 companies listed on the Main and Junior Markets of the Jamaica Stock Exchange. Stocks in the portfolio that recorded double-digit price increases year-overyear, such as Caribbean Cement Company up by 97 per cent; Supreme Ventures Limited, up 48 per cent; Jamaica Broilers Group, up 41 per cent; and Jamaica Money Market Brokers Group, up 39 per cent.
Mayberry reported dividend income of US$2.8 million for the period under review, representing a marginal growth of 0.2 per cent over the corresponding period in 2018. The most solid contributor to the portfolio’s dividend revenue line was Supreme Ventures Limited with dividends of US$2.35 million.
On May 3, 2019, a dividend of US$590,000 was paid following Supreme Venture’s board approval of an ordinary dividend payment of $0.065 per share.