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Mayberry posts third quarter loss

Financial advisory and brokerage firm Mayberry Investments registered a loss in its third quarter ended September.
 
Total net losses amounted to $2.2 billion compared with a $1.1 billion loss for the same period last year.
 
Mayberry Investments also saw more net interest losses for the quarter, valued at $1.8 billion. This is compared to a net interest loss of $758.3 million for the same period last year.
 
The investment company says its losses were driven by increased operating expenses for the quarter.
 
However, Mayberry's net interest income for the nine months up to September increased by 75 per cent to $241.8 million.
 
The company says this growth was mainly driven by increased revenue on repurchase agreements and growth in the margin loan book, which allows customers to borrow funds to invest in shares.


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