Chief Executive Officer for Mayberry Investments, Gary Peart, is reporting in the company’s just-released 2017 annual report, revenues of over $2-billion.
This represents a year-over-year increase of over $990-million or an increase of 82-percent when compared to 2016. This is the third consecutive year the company has recorded in excess of a billion dollars of income as Mayberry celebrates its 33rd year of operations.
Commenting on the financial performance, Mr. Peart reported that the improvements resulted from increases in Corporate financial advisory fees and commissions, as well as unrealized gains on investment revaluation of over a billion.
Corporate Financial Advisory Revenue from Advisory Service grew by 324-percent year over year, while Brokerage Fees from Debt and Equity were up just over 185-percent and 203-percent, respectively, over the previous year.
These, he says, were offset by lower net trading and foreign exchange gains.
Operating expenses for the year 2017, were nearly $2-billion which was 78-percent or $847-million higher than 2016, driven by an increase in impairment of investments of $677-million.
Mayberry Investments closed 2017 with stockholders’ equity increasing by just over 2-billion dollars or 29-percent to close the year at over $9-billion dollars or $7.79 per share.