Saturday 31 October, 2020

Main Events profit down

The company posted $56 million net profit for its full October year end which represents a 5.8 per cent decline on the year before.

The company posted $56 million net profit for its full October year end which represents a 5.8 per cent decline on the year before.

Main Event Entertainment Group's first set of results since listing are down.

The company posted $56 million net profit for its full October year end which represents a 5.8 per cent decline on the year before. But revenues are up to $1.13 billion compared to $1.03 billion.

The earning per share is not included as the October accounting date of the financial results are prior the listing period in February.

Main Event Entertainment is known for creating unique, inventive and exceptional events for both corporate and private clients in Jamaica. Their comprehensive turnkey system gives it flexibility to address varying client needs and event sizes.

The company focuses on complete event coordination from conceptual design, planning and organization to event management.

Today, it is Jamaica’s largest structured premier event management company. Main Event Entertainment is also Jamaica’s largest digital signage solution provider for general advertising through various mediums of digital platform.

Main Event's initial public offering (IPO) was at least three times oversubscribed when it raised $120 million. The stock grew more than 30 per cent in its first day of listing.

The IPO invited the public to subscribe to 60,001,000 ordinary shares at the price of $2.00 per share. The general public initial got a little above 1.2 per cent of their allotment request for the Main Event listing but Mayberry Investments Limited (MIL) got 100 per cent.

 

 

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