The revaluation of the Jamaican dollar against the US currency is being blamed for the financial loss suffered by Mayberry Investments during the second quarter of its financial year.
During the three months ended June 30, the firm suffered a $10.9 million loss.
It recorded a $16.9 million profit during the corresponding period last year.
Net income also declined by $57 million to $70 million.
Mayberry says sharp movement in the currency market coupled with its decision to hold foreign currency securities resulted in the poor results.
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