Mayberry Investments' net interest income, a growth measure on which financial houses are judged, was off by more than $50 million at year end December, but the lost income was more than offset from a near half a billion of trading gains.

Total revenues also declined from $2.4 billion at December 2006 to $2.2 billion a year later.

Net of expenses, trading income earned Mayberry $375 million in its 2007 financial year - a near fourfold increase over 2006 - to outperform the $302 million of net interest income recorded by the Oxford Road company.

Fees and commission also added $122 million to lift operating profit $200 million higher at $474 million.

Net profits, after tax deduction of $117 million, were $373 million or 31 cents per share.

That result represented for Mayberry a near 43 per cent improvement in profit performance.

The company's balance sheet was also $2 billion heavier, with total assets recorded at $23.9 billion, while equity increased from $2.7 to $3.4 billion.

business@gleanerjm.com

TAKEN FROM THE FINANCIAL GLEANER, FRIDAY, FEBRUARY 22, 2008