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Commentary>Mayberry profits climb 43%Financial Gleaner |
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Mayberry Invest-ments' net interest income, a growth measure on which financial houses are judged, was off by more than $50 million at year end December, but the lost income was more than offset from a near half a billion of trading gains.
Total revenues also declined from $2.4 billion at December 2006 to $2.2 billion a year later.
Net of expenses, trading income earned Mayberry $375 million in its 2007 financial year - a near fourfold increase over 2006 - to outperform the $302 million of net interest income recorded by the Oxford Road company.
Fees and commission also added $122 million to lift operating profit $200 million higher at $474 million.
Net profits, after tax deduction of $117 million, were $373 million or 31 cents per share.
That result represented for Mayberry a near 43 per cent improvement in profit performance.
The company's balance sheet was also $2 billion heavier, with total assets recorded at $23.9 billion, while equity increased from $2.7 to $3.4 billion.
business@gleanerjm.com