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The bloodbath continues at Mayberry with no clear signs that the bloodletting will ease anytime soon.

For Q1 2026, Mayberry Group posted a total comprehensive loss attributable to stockholders of the parent of a whopping J$1.4 billion compared to J$601. 9 million for the same period last year. Total assets fell by 3.1 per cent to $58.6 billion. Equity attributable to stockholders of the parent fell by 11.4 per cent over the December quarter to $10.8 billion. Suffice it to say, net book value per share dropped by 11.4 per cent compared to the December quarter to $8.96 billion.

The largest contributor to the loss was net unrealised losses on investments in associates at FVTPL of $1.5 billion. Net interest expense came in at $392.5 million compared to net interest income of $57 million in Q1, 2025. 

But it was not all doom and gloom. Mayberry did see growth in dividend income, foreign exchange gains and commissions.

Mayberry has been poleaxed by an anaemic Jamaican stock market which has been unable to get up off its knees for the better part of two years. Exacerbating matters further, Mayberry was hit by higher interest costs of 28.2 per cent year over year due to costs for corporate paper and notes. 

Operating expenses leapt by 36 per cent from $637.5 million in the previous year to $866 million for the period under review.

Addressing this unwelcome performance, Mayberry Group CEO  Gary Peart said: “The management team will continue to focus on prudent balance-sheet management and long -term value creation. Management is implementing appropriate portfolio risks reviews and adjustments and expects the Group’s strategic positioning to support performance throughout 2026”

Turning attention to Mayberry Jamaica Equities the picture was also grim.

This standard bearer of Jamaican companies reported a total comprehensive loss of US$13.5 million compared to a loss of US$16.9 million for the same period last year. Here, total assets fell by 10 per cent from US$115 million in December 2025 to US$103. 2 million for March 2026. Total equity to stockholders dropped by 17.7 per cent from US$76.6 million in December 2025 to US$63 million for Q1, 2026.

The share price has tanked by 34.3 per cent. Last March it was trading at $11.07 now it is down at $7.27. Net book value per share fell 17.7 over the December 2025 quarter.

Total operating expenses for the quarter under review increased by 4.3 per cent or US$13,000 to US$313,000 when compared to the corresponding period in the prior year. 

Mayberry Jamaican Equities’ performance was affected in the main by lower market prices on the portfolio, which led to net unrealised losses on investments US$12.6 million for the same quarter last year.

The Christopher Berry-led Group has taken significant positions in a number of Jamaican listed companies, including Supreme Ventures (55.1%), Wigton  (7.9 %), Jamaica Broilers Group (5.4 %), Dollar (5.0%) and Grace Kennedy (3.6 %).

The fair value loss for associates came to J$1.54 billion, with interest expense jumping to J$323 million. 

Supreme Ventures Limited’s  (SVL) share price has fallen by 14 per cent in Q1, 2026. It is now trading at around $16.90. What is a quandary here is that with a downturn in the economy, gambling and gaming expenditure tends to rise. Supreme Ventures recently released results, which were encouraging compared to last year, bagging  $700 million in net profit for Q1, 2026. 

Mayberry is calling on shareholders to keep faith with Supreme Ventures, and they will see unrealised losses turn into unrealised gains. The way the Oxford Road-based investment house sees it, the local equities market is in a temporary lull and is expected to be heading in the right direction by year’s end. 

At an investor briefing yesterday,  Executive Chairman of Supreme Ventures Group and CEO of Mayberry Group, Gary Peart, said: “Two years from today, we will bounce back. Based on what I’m seeing, what is happening with MJE is going to be a case study for why you should invest in the Jamaica Stock Exchange and why you need diversification and liquidity. I believe we are at the trough where MJE is concerned. The fall off in MJE is based on the fall off in the price of SVL shares with the stock dropping from $26 to $13, but it has appreciated by over $3 in the last few days. It will trade higher.

“SVL is a plane taxiing down the runway about to take off. A lot of the Jamaican public and analysts are not aware of the potential of SVL, but by the time we get to June of this year, it will become patently obvious to everybody. We will see a material turnaround in the price by June 30th of this year which will ultimately benefit MJE.”