March 17, 2025

Main Event Entertainment Group Limited (MEEG)

Unaudited financials for the first quarter ended January 31, 2025:

Main Event Entertainment Group Limited  (MEEG) for the first quarter ended January 31, 2025, reported a 3% increase in revenues totaling $585.03 million compared to $567.75 million in the corresponding period last year.

The cost of sales amounted to $283.36 million (2024: $251.93 million), an increase of 12% year over year. Consequently, gross profit decreased by 4% to $301.67 million compared to $315.82 million for the first quarter ending January 31, 2024.

Administrative and general expenses increased by 4% to close at $172.62 million (2024: $165.23 million), while Depreciation decreased by 11% from $27.61 million in 2024 to $24.57 million for the first quarter ending January 2025. As a result, Total Expenses for the first quarter amounted to $218.72 million, a 6% increase relative to $206.35 million reported in 2024.

Operating Profit for the period amounted to $87.48 million, a 24% decrease relative to $115.29 million reported in 2024. Finance costs totaled $3.27 million, a 7% increase from last year’s corresponding period. (2024: $3.06 million).

Profit Before Taxation for the first quarter ended January 31, 2025, amounted to $84.22 million, a 25% decrease relative to $112.23 million reported in 2024. The period’s taxation charge decreased 12% to $10.55 million (2024: $11.97 million). Net Profit amounted to $73.67 million, a 27% decrease from the $100.25 million reported in 2024.

Consequently, Earnings Per Share for the amounted to $0.25 (2024: EPS: $0.33). The twelve-month trailing EPS was $0.15, and the number of shares used in these calculations was 300,005,000. Notably, MEEG’s stock price closed the trading period on March 14, 2025, at $11.57 with a corresponding P/E ratio of 79.79x.

Balance Sheet Highlights

The company’s assets totaled $1.31 billion (2024: $1.23 billion). The company’s total asset base grew due to a 53% year-over-year increase in “Receivables,” reaching $376.47 million at the end of the quarter (2024: $246.11 million), and a 254% year-over-year surge in “Right of Use Assets,” which rose to $69.70 million (2024: $19.70 million).

Shareholder’s equity was $956.17 million (2024: $912.66 million), representing a book value per share of $3.19 (2024: $3.04).

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