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Mayberry Jamaican Equities reverses losses amid Jamaica Stock Exchange rebound

1 report, 1 independent Updated Oct 16
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

Mayberry Jamaican Equities Ltd (MJE) reported earning $874 million in the June quarter, reversing a loss of $2.08 billion from the first quarter and narrowing its six-month loss to $1.21 billion. The rebound was driven by unrealized gains of $808.5 million on investments in associates and $124 million on financial instruments. MJE used depressed prices to purchase more shares, including Supreme Ventures stock at prices as low as $13.

From jamaica-gleaner.com

Why it matters

Some supportBrind's analysis of the reports

The performance reflects the Jamaica Stock Exchange (JSE) gaining over 20 percent this year, marking its first major rise since the start of the pandemic. Mayberry Group holds the bulk of its stock portfolio in MJE, which operates a listed fund that pools money from multiple investors.

From jamaica-gleaner.com

Who's involved

  • Chris BerryChairman of MJE, commenting on the portfolio's recovery
  • Gary PeartCEO of Mayberry Group, speaking to shareholders about the portfolio's growth

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The entities involved

Coverage

Newest first; wire copies grouped