The government of Jamaica spent less on interest, capital projects and collected more tax revenues but received less grants from April to July this year.
This development resulted in the actual deficit being $8 billion less than budgeted.
Tax revenues were $3 billion more than planned and grants $1.5 billion less than expected but interest cost mainly of foreign debt resulted in savings of $4 billion while $4.3 billion less was expended on the capital projects. The critical primary surplus was $4 billion ahead of forecast of $23.7 billion.
Archives for September 2015
GOJ collects more spends less
September 1, 2015 by
Securities trading at elevated level
September 1, 2015 by
NCB jumped to $30 on Tuesday.
At the close, the JSE Market Index rose 745.81 points to 98,029.56. The JSE All Jamaican Composite index jumped 833.61 points to 108,509.71 at support level on the downside and the JSE combined index added 634.94 points to end at 101,053.14.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 10 stocks with bids higher than their last selling prices and 7 with offers that were lower.In trading, Cable and Wireless rose just 1 cent with 2,494,634 units and closed at 46 cents. At the close, visible bids ranging between 40 cents and 45 cents totalled 2.6 million units. On offer between 48 and 50 cents, are 6 visible offers to sell 3.27 million shares. Desnoes & Geddes traded 2,337 shares at $6.40 with a fall of 40 cents, Grace Kennedy had 108,148 units changing hands at $64, Jamaica Broilers closed at $6.40 with just 38,000 shares changing hands. The price rose to $6.99 in the morning session before falling
back to the closing price. Mayberry Investments ended up rising 50 cents to $3.40 with 83,868 units, but the stock closed with an offer at $3.05 to sell 100,000 units. National Commercial Bank traded 163,714 shares and closed with a gain of $1.25 at $30, the price also jumped in Trinidad to reach J$30. Sagicor Group with 21,500 shares changing hands, closed at $13. Scotia Group traded 4,825 units to close with a gain of 60 cents at $23.76, Scotia Investments ended down 79 cents at $27 while only 1,000 units traded and Proven Investments ordinary share, traded 15,245 units at 21 US cents and Jamaica Money Market Brokers 7.50% preference share traded 25,000 units at $2.
Kremi gains 40 cents on Tuesday
September 1, 2015 by
Caribbean Cream closed with a gain of 40 cents on Tuesday.
At the close, 5 securities ended with no bids to buy, while 4 had no stocks being offered for sale and 4 stocks closed with bids higher than the last traded prices and 4 with the offers being lower.
Stocks trading are, Access Financial ended at $12 with a loss of $4.50 with 11,886 units changing hands, Cargo Handlers ended with 19,361 shares changing hands and closed at $31, Caribbean Cream rose 40 cents to $2.40 with 72,998 units trading. Caribbean Flavours traded 5,670 units and added 15 cents to end at $2.70, Caribbean Producers traded 103,091 units at $2.50,
Consolidated Bakeries traded 1,000 shares at $1.20, Lasco Distributors was up 10 cents to $1.80, with 8,134 units changing hands, the stock closed with a bid to purchase 3,000 shares at $1.95. Lasco Financial closed with 50,000 units trading to end at $1.66, after rising 1 cent, Lasco Manufacturing closed at $1.90 with 61,231 units changing hands. Medical Disposables traded 78,000 shares to close unchanged at $2.50, Paramount Trading ended with 2,542 shares changing hands at $5.75, for a fall of 25 cents and Eppley cumulative preference share 2019, ended with 8,700 units changing hands at $6.01 with a loss of a cent.
4 TTSE stocks up 3 down on Tuesday
September 1, 2015 by
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First Citizens gained 50 cents to close at $35 on Tuesday
At the close, the Composite Index advanced by 2.84 points to 1,144.38, the All T&T Index gained 1.88 points to 1,947.18 and the Cross Listed Index gained 0.51 points to 44.81.
Gains| Agostini’s traded 2,711 shares and closed at $17.26 with a gain of 1 cent, First Citizens Bank had 5,503 shares changing hands to end with a gain of 50 cents at $35, National Commercial Bank traded 13,600 shares and gained 11 cents, to close at $1.63 and Scotiabank closed with 7,288 shares changing hands valued at $454,771 to gain 8 cents and end at $62.40.
Losses| JMMB Group ended with a loss of 2 cents in trading 30,000 shares at 43 cents, Massy Holdings had just 80 shares trading at $62.49 with a loss of 1 cent and National Flour Mills with 51,040 shares changing hands, ended at $2.05 after shedding 4 cents.
Firm Trades|, Ansa McAl traded 460 units to end at $67.25, FirstCaribbean International Bank traded 1,298 shares and closed at $5, Grace Kennedy closed with 7,080 shares changing hands at $3.50,
up-at-guardian-holdings/”>Guardian Holdings added 1,949 shares to close at $12.90. One Caribbean Media traded only 80 shares with the price remaining at $22, Point Lisas traded 12,664 shares at $4.07, Prestige Holdings with 1,053 units changing hands ended at $9.89, Scotia Investments closed with 19,925 shares changing hands unchanged at $1.53 and Trinidad Cement ended at $2.75 with 22,556 shares changing hands.IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with the bid higher than their last selling prices and 4 stocks with offers that were lower.
Main market up juniors down Tuesday
September 1, 2015 by
After trading for 90 minutes of the market’s opening on Tuesday, 23 securities traded with a volume of 1,089,675 units. There were 7 stocks declining and 8 rising in the morning session.
Trading activity resulted in mixed fortunes for the indices with the main market 
gaining and the junior market falling.
The JSE Market Index rose 157.23 points to 97,440.98.04. The JSE All Jamaican Composite index gained 175.74 points to close at 107,851.84 and the JSE combined index gained 88.49 points to end at 100,506.69. The junior market fell just 6.60 point to close at 953.08.
The notable trades are Cable & Wireless with 786,080 shares at 46 cents, Carreras trading at $50.30 with a gain of $1.30 but with only 100 shares, Jamaica Broilers with 1,000 units at $6.99 after jumping 59 cents, Mayberry Investments rising 50 cents to $3.40 with 83,868 units. From the junior market, Access made fell $4.50 to $12 with a gain with 11,886 units trading, Caribbean Cream rose 40 cents to $2 but trading the stock was halted for an hour as the price exceeded 15 percent on an initial trade.
Blue Power disappoints again
September 1, 2015 by
For the six consecutive quarters, soap manufacturer, Blue Power, disappoints investors, with a fall in profit compared to the prior year’s results. For the three months to July this year, the company reported profit before tax of $21 million compared to $29 million in the same period last year, a fall of 28 percent.
Revenues for the period ended at $306 million that are up 8 percent from the $282 million for the same period last year and a big recovery from $260 million experienced during the poor April quarter.
The five-year tax-free concession the company enjoyed for listing on the junior market ended in April, resulting in an estimated tax liability of $2.19 million which reduces net profits to $18.60. The profit performance helped to generate gross cash flow from operations of $24 million versus $28 million in 2014.
While sales grew, gross profit fell and gross profit margin declined with the former falling to $64 million from $66 million and administrative and other expenses rose 14 percent to $46 million.
The contribution of Lumber Depot division to the before tax was $7.55 million and $6.09 million in 2014, while Blue Power division contributed $13.24 million and in 2014, profit of $22.6 million. Earnings per stock unit for the quarter fell from 51 cents to 33 cents.
Divisional sales had mixed fortunes with the lumber depot division enjoying an increase of $28 million to $212 million, while sales for the Blue Power division, declined by $3.5 million to $90 million in 2015 compared to July 2014 quarter. Sales for both divisions were higher in the July quarter than for April with the Lumber Depot sales also improved from $189 in April 2015 and Blue Power division from $71 million.
Blue Power jumped to a 52 weeks’ high of $14 on Monday
Cash and equivalent has risen to $168 million from $156 million in 2014 and receivables declined to $74 million but Inventories jumped to $266 million from $220 million while loan financing amounts to just $8.7 million.
The stock which was previously given a BUY RATED grade lost it with the declining profits and no clear indication of a strong pick up in revenues to propel profits upwards to warrant a buy rating at this time.
