Jun 1st 2012, 02:51 MRG Marix Group
by Marishka Ixito
MRG financials for May 2012Dear MRG investors,
I am happy to report that the MRG results for May show some further improvement, although the second half of the month didn't quite live up to expectations. This month's profit came in at about 66,500 L$. The dividend for this month will be 35,000 L$.
There was a modest gain in revenue, which came in at 202,500 L$, while costs remained largely stable.
The really good news for this month relates to our investments, which gained more than 400,000 L$ in value, helping to push our investments return for this month to just over 30%. Since MRG was listed the total return on investments amounts to 77.7% (money weighted).
Investment income contributed almost 24,000 L$ to the MRG results for this month.
The outlook for June is somewhat muted at this time. Even though we expect higher dividend income from our investments, the performance of our rentals will have to improve again from the levels at month-end to avoid stagnation of net income.
Sadly not much progress has been made this month with completing our new design for a stunning modern skybox, so the first of these has not yet been added to our available rentals, but we expect to be able to build several of this new type rental during June.
Net tangible assets per share increased to 0.475 L$, representing a 67.9% increase since MRG was first listed.
The full financial report for May can be found here:
http://tinyurl.com/MRG05-2012 (points to a google doc)