Margaritaville (Turks) Ltd (MTL) Finally Release May 2020 (YE) Results. Profits Down 90%

Margaritaville (Turks) Ltd (MTL) has released their May 2020 (YE) numbers. Here are the highlights.

Year To Date (2020YE)

  • Revenue of $5.94m. Declining by -21.74% or -1.65m YTD YoY.
    Surprisingly, revenue only down 22% (could have been more, considering they are a tourism related business). But then this is up to May. After that should be much worse. Also good that they were able to reduce Direct costs at the same rate
  • Net Income (Profit) totaled $72.13k. Down by -90.39% or -678.11k YTD YoY.
    Revenue and Cost of sales down at the same rate ~20%. However Admin expenses only down 11% 

Margaritaville Turks’ principal place of business is located on the Turks and Caicos Island. The company is a subsidiary of Margaritaville Caribbean Limited.

Its main activity during the year was the operation of a Margaritaville branded bar and restaurant.

This is just a summary. For more charts, ratios and other details visit MTL’s page here

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