Unaudited financials for the first quarter ended January 31, 2026:
Main Event Entertainment Group Limited (MEEG) for the first quarter ended January 31, 2026, reported a 64% decrease in revenue to $211.48 million, compared to $585.03 million in the corresponding quarter last year.
Cost of Sales amounted to $88.98 million (2025: $283.36 million), a 69% year-over-year decrease. Consequently, gross profit decreased by 59% to $122.49 million, compared with $301.67 million in the first quarter ended January 31, 2025.
Administrative and general decreased by 3% to close at $167.19 million (2025: $172.62 million), while depreciation decreased by 22% from $24.57 million in 2025 to $19.10 million for the period under review. As a result, total expenses for the first quarter amounted to $209.73 million, a 4% decrease relative to $218.72 million reported in 2025.
Operating Loss for the quarter amounted to $76.85 million, a 188% decrease from the $87.48 million profit reported in 2025. Finance costs totalled $2.57 million, a 21% decrease from the corresponding period last year. (2025: $3.27 million).
Loss Before Taxation for the first quarter ended January 31, 2026, amounted to $79.42 million relative to the profit of $84.22 million reported in 2025.
After a tax credit of $13.86 million, the company reported a net loss of $65.56 million (2025: profit of $73.67 million), underscoring the challenges faced in the quarter and the importance of transparency with our stakeholders.
This resulted in LPS of $0.22 for the period under review versus EPS of $0.25 reported in the prior comparable period. The trailing LPS amounted to $0.48.
Notably, MEEG’s stock price closed at $6.95 on March 16, 2026, offering a specific reference point for investors assessing recent market performance.
Balance Sheet Highlights
The company’s total assets decreased by approximately 17.5% to $1.08 billion from $1.31 billion in 2025, driven by a 34% decline in receivables to $249.08 million, a 41% drop in due from related parties to $51.49 million, a 26% reduction in cash and bank balances to $97.11 million, and a 9% YoY in PP&E ending the quarter at $344.78 million (2025: $377.57 million) illustrating the asset base contraction.
Shareholders’ equity was $811.68 million (2025: $956.17 million), representing a book value per share of $2.71 (2025: $3.19).
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.
