Margaritaville Turks recorded net profit of just over $1.27 million for the year ended May 31, down nearly 20 per cent on the previous year.
Revenue also declined by 11.3 per cent to $8.5 million compared with a year earlier.
Despite the lower earnings, Margaritaville Turks strengthened its balance sheet.
Total assets increased by almost 22 per cent to $11.3 million, largely due to a rise in amounts due from a related company.
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