August 4, 2026

KINGSTON, Jamaica — Mayberry Jamaican Equities Limited (JSE: MJE) has returned to profitability, reporting a net profit of J$873.9 million for the second quarter ended June 30, 2026 — a J$2.24 billion improvement over the net loss of J$1.36 billion recorded in the corresponding quarter of 2025, and a decisive reversal of the loss posted in the opening quarter of the year. Earnings per share for the quarter came in at J$0.73, compared with a loss per share of J$1.14 a year earlier.

The turnaround was driven primarily by a recovery in Main Market valuations on the Jamaica Stock Exchange (JSE), which lifted the fair value of the Company’s key associate and equity holdings. Net unrealized gains on investments in associates totalled J$808.5 million for the quarter, reversing unrealized losses of J$938.6 million in the second quarter of 2025, while net unrealized gains on financial instruments carried at fair value through profit or loss added a further J$124.0 million, against losses of J$340.0 million a year prior.

Net operating income for the quarter amounted to J$908.4 million, compared with a net operating loss of J$1.3 billion in the corresponding period of 2025. The result was supported by disciplined cost management, with operating expenses falling 16.7% to J$34.4 million, largely on lower management fees. Total comprehensive income for the quarter stood at J$653.6 million, against a total comprehensive loss of J$1.7 billion in the second quarter of 2025.

Dividend income of J$51.2 million was lower than in the comparable 2025 quarter, reflecting reduced dividends declared on some holdings. The leading contributors to dividend revenue for the quarter were Dolla Financial Services Limited, Supreme Ventures Limited, GraceKennedy Limited, NCB Financial Group Limited and Wigton Energy Limited.

Active portfolio repositioning

MJE, which holds positions in 26 companies listed on the Main and Junior Markets of the JSE, was a net purchaser of stocks during the quarter, reflecting active rebalancing and disciplined capital allocation under its value-based investment strategy. The largest additions for the quarter were Dolla Financial Services (J$115.9 million), Supreme Ventures (J$67.4 million), JMMB Group (J$44.7 million), Jamaican Teas (J$22.8 million) and Lasco Distributors (J$15.1 million).

Supreme Ventures remained the portfolio’s anchor holding at 56.2% of the total value of investments as at June 30, 2026, followed by Wigton Energy (7.1%) and Dolla Financial Services (5.9%). Total assets stood at J$17.2 billion at the end of the quarter, with stockholders’ equity of J$10.6 billion and a net book value of J$8.82 per stock unit.

Outperforming a mixed market

The Company’s return to profit came against a mixed backdrop for Jamaican equities. During the quarter, the JSE Main Market Index advanced 2.25% to close at 353,858.83 points, while the Junior Market Index declined 9.39% to 3,088.64 points, with declining stocks outnumbering advancers across both markets. Key securities within MJE’s portfolio benefited from the partial recovery in Main Market prices during the period.

In her commentary on the results, Managing Director Natalie G. Augustin described the quarter as a clear inflection point in the Company’s performance, noting that management remains cautiously optimistic as Main Market valuations show early signs of stabilisation, supported by Jamaica’s gradual economic recovery. The Company, she said, will maintain its disciplined approach to portfolio management and capital allocation, guided by its value-based investment strategy, with a continued focus on preserving capital and creating long-term value for shareholders.