Archives for October 2015

11 junior stocks rose 2 down

October 29, 2015 by

Dolphin Cove share recover some of Wednesday's losses.

Dolphin Cove share recover some of Wednesday’s losses.

The junior market enjoyed wide spread trading as 16 securities were active but the market index rose 23.19 points to close at 1,311.54. A total of 1,859,693 units, valued at $6,149,063 changed hands as 11 stocks advanced and 2 declined.
The market ended with 1 stock closing at a 52 weeks’ high while 3 securities ended with no bids to buy and 7 had no stocks being offered for sale. A total of 3 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, AMG Packaging lost 9 cents to close at $4.80 with 51,861 units changing hands, Blue Power had 12,850 shares changing hands at $13, Cargo Handlers closed at a new 52 weeks’ high of 33 with 9,000 shares while adding $1. Caribbean Cream rose 20 cents and closed at $3.40 with 304,730 shares changing hands. Caribbean Producers traded 18,000 units for a gain of 2 cents to end at $3.10, Consolidated Bakeries traded 256,212 shares to end at $1.90 with a gain of 25 cents, for a 52 weeks’ high, Dolphin Cove recovered from the big loss on Wednesday, to gain $1.60, with 51,015 units changing hands, to end at $11.60. JM - Trade sht 29-10-15General Accident ended with 30,000 shares changing hands at $1.90, Honey Bun traded 19,052 shares at $5 to gain 82 cents, Jamaican Teas had 22,043 shares trading for 2 cents more at $3,42, KLE Group traded down 1 cent at 44 cents with 29,000 units, Knutsford traded 222 shares and gained 30 cents to a new all-time high of $6.50. Lasco Distributors with 486,615 shares changing hands, closed with a gain of 35 cents for a closing 52 weeks’ high of $3.41, after the price hit $3.45, during trading. Lasco Financial closed with a 15 cents gain to $2.60 after trading earlier at $2.67, a total of 307,061 shares changed hands, Lasco Manufacturing traded 162,035 shares to end with an increase of 15 cents to $3.40 and Medical Disposables ended with 99,997 units changing hands to end at $2.50.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , ,

All Indices up at 10:20

October 29, 2015 by

JSE int 29-10-15

Filed Under: JSE Main Market, Stock Market

Lasco Distributors blow out profits

October 29, 2015 by

Lasco Distributors with responsibility to distribute "I Cool" drink.

Lasco Distributors with responsibility to distribute “I Cool” drink.

Lasco Distributors reported an 87 percent increase in profit after tax for the six months to September, of $379 million over 2014 and a 121 percent increase in the September quarter of $247 million over the similar quarter last year.
The Gross profit for the period was S1.1 billion, an increase of $299 million or 36 percent over the prior year. The Gross Profit margin for the quarter was $628 million, or 32 percent over the same period last year. Gross profit margin for the august 2015 quarter is 17.26 percent versus 17.5 percent in 2014 and year to date 16.2 percent in 2015 and 16.28 percent in 2014.
The huge gain came from increased revenues of 34 percent for the quarter, amounting to $6.95 billion and 36 percent for the six months of $3.64 billion.
“This growth was driven mainly by contributions from our iCool and Unilever lines of business, both of which have been doing very well”, Peter Chin, Managing Director reported to shareholders in the directors’ report accompanying the financial data.
An interesting element of the results is the 10 percent growth in revenue over the June quarter a continuation of the quarter over quarter growth evident from late in 2014 with an average of 8 percent for the last three quarters.
Earnings per stock for the six months amount to 11 cents and 7 cents for the quarter. IC Insider projects profit of 34 cents for the current year and 50 cents for the year to March 2017.
Cost were held well below the growth in revenues with Operating Expenses in the latest quarter rising to $396 million from $377 in 2014 and for the six months this year the company incurred $779 million versus $658 million in 2014 for a rise of 18 percent.
Cash flow from operations increased by 94 percent to $391 million from $202 million for the similar period to September 2014 swelling Cash and Equivalents at the end of the Period to $904,043 compared with $191,277.
The company’s shares are listed on the junior market of the Jamaica Stock Exchange. Its principal activity is the distribution of pharmaceutical and consumable items, ii distributes all of Lasco Manufacturing’s products locally.
The stock may be considered fully priced currently with a PE of 10 being one of the higher priced junior market stocks, but with strong growth expected and lower interest rates to come, investors with a long term time horizon may want to accumulate from now, bearing in mind the limited supply available.

Filed Under: Breaking News, Buy Rated, Company News, Company Results Tagged With: , , , , ,

Dolphin Cove Q3 profit gains 17%

October 29, 2015 by
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Image courtesy of Bill Longshaw/FreeDigitalPhotos.net

Image courtesy of Bill Longshaw/FreeDigitalPhotos.net

Dolphin Cove reported a 4 percent increase in profit after tax for the nine months to September, of $412 million over 2014 and a 17 percent increase in the September quarter to $128 million over the similar quarter last year.
Cash flow from operations increased by 26 percent to $486 million, compared to $385 million for the similar period to September 2014.
Earnings per stock unit for the nine months amounts to $1.05 and 32.6 cents for the quarter and could end around $1.40 for the year, for the full 2014 year earnings was $1.12.
“The improved results were largely reflective of a 10 percent growth in ancillary revenue and better receivables collections in 2015. There was also noticeable growth in the number of customers who visited our Hanover and Half Moon Parks and the Group also benefited from the devaluation in the Jamaican dollar in the third quarter, 2015 as most of our income is earned in United States dollars”.
“Overall revenue grew by 5 percent although, as anticipated, there was a reduction in the number of hotel guests who visited the Ocho Rios Park given the temporary closure (for expansion) of one of the major hotels in this region. The resulting reduction in revenue and profit in this area was however surpassed by strong growth in the other operating segments and an increase in local business on account of our summer promotion which was introduced in September quarter, 2015”.
Stafford Burrowes and his wife

Stafford Burrowes and his wife

“Increase in operating expenses was restricted to 7 percent, for the year to date and 6 percent for the third quarter and was primarily due to additional depreciation, which resulted from the revaluation of buildings. The staff benefited from salary increments, which came into effect in the latter quarter of 2014”, Stafford Burrowes, Chairman and Chief Executive Officer and William McConnell, Chairman of Audit Committee stated in a report accompanying the interim financials.
An interim dividend of 15 cents per share will be paid in December quarter. This brings the total dividend declared to date to 45 cents and equals the same level of dividend which was declared as at September quarter, 2014.
Property, plant and equipment jumped to $2.19 billion at the end of September from $1.11 billion at the end of September last year as revaluation surplus added $930 million. Revaluation and retained profits helped to swell equity to $2.7 billion while borrowed funds stood at $240 million.
The company’s stock is traded on the Jamaica Stock Exchange and closed on Wednesday at $10 but with these results should be heading back upwards to the $13 range before long.

Filed Under: Company News, Company Results Tagged With: , , ,

Jam $ lost value all round Wednesday

October 28, 2015 by

100bill The local currency lost value against the US dollar, the Pound sterling and Canadian dollar on Wednesday. At the close of trading, the equivalent of US$34,040,455 was bought by dealers, compared with US$32,817,588 on Tuesday, while they sold the equivalent of US$41,709,262 versus US$40,013,573 on the previous trading day.
In US dollar trading , dealers bought US$31,509,182 compared to US$29,941,222 on Tuesday. The buying rate for the US dollar fell 10 cents to $119.06 and US$40,398,527 was sold versus US$38,224,150 on Tuesday, the selling rate rose 7 cents to end at $119.71. FX trade sum 28-10-15The Canadian dollar buying rate fell 19 cents to end at $87.32, with dealers buying C$862,611 and selling C$599,125, at an average rate that rose 4 cents to $89.64. The rate for buying the British Pound increased by 45 cents to $180.70 for the purchase of £1,197,625, while £513,151 was sold, at an average rate that climbed 18 cents to $181.72. At the end of trading, it took J$132.20 to purchase the Euro, a rise of 2 cents from Tuesday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.69 for a gain of 13 cents from Tuesday’s rate. The US dollar equivalent of other currencies traded, amounts to US$81,011 being bought, while US$83,138 was sold.
Highs & Lows| On Wednesday, the highest buying rate for the US dollar, the lowest buying and the highest selling rates remained unchanged at $119.90, $98.28 and $125.94 respectively and lowest selling rate fell $3.89 to end at $98.28. FX H&L 28-10-15 The highest buying rate for the Canadian dollar climbed 85 cents to $91.10, the lowest buying rate dropped 25 cents to $71.96, the highest selling rate rose $1.30 to end at $94.39 and the lowest selling rate dipped 50 cents, to $84. The highest buying rate for the British Pound, climbed 20 cents to end at $183.35. The lowest buying rate fell 42 cents to $147.49, the highest selling rate fell $2.99 to $187.47 and the lowest selling rate rose $1.80 to end at $175.

Filed Under: FX Market, Stock Market Tagged With: , , , , , , , ,

Election spend pushes One Caribbean Profit

October 28, 2015 by

One CaribSpending on election advertising in Trinidad & Tobago and new technology employed by helped One Caribbean Media to post strong profit for the September quarter with an increase in revenues of 9.4 percent to TT$147.4 million in the September quarter and with an increase of 60 percent in after tax profits of $30 million.
Earnings per stock unit for the nine months to September, is 93 cents and 43 cents for the quarter and could end around $1.30 for the year.
For the nine months, profits rose to $64.4 million from $57.8 million, in 2014 from nine months revenues of $385 million, that is down on the $402 million generated in 2014. The highest income generated period is the final quarter for the year, with increased demand during the Christmas period.
For the 12 months to December last year, revenues came in at $548 million with profit of $85 million. Helping the performance is a drop in Direct cost from $88 million in the 2014 quarter to $83 million for the 2015 period and for the nine months for 2015 to $234 million versus $260 million in 2014, administrative cost were held tightly with a small increase.
The company’s stock is traded on the Trinidad & Tobago Stock Exchange and closed on Wednesday at $22.50. the company operates radio, TV stations in Trinidad and Tobago and operates in the print media as well.

Filed Under: Company News, Company Results Tagged With: ,

Access sheds 22% in 2 days

October 28, 2015 by

Access fell 22% in 2 days to $10.50

Access fell 22% in 2 days to $10.50

Access Financial shed 22 percent in value in just two days as one investor speedily offloaded 228,000 shares between today and Tuesday. The junior market enjoyed wide spread trading as 13 securities were active but the market index fell 8.06 points to close at 1,288.35.
A total of 3,241,986 units, valued at $12,588,381 changed hands as 3 stocks advanced and 8 declined. The market ended with 1 stock closing at a 52 weeks’ high while 3 securities ended with no bids to buy and 6 had no stocks being offered for sale. A total of 5 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, Access Financial closed with a loss of $2 to $10.50 with 170,271 units changing hands, AMG Packaging lost 1 cent to close at $4.99 with 200 units changing hands, Caribbean Cream fell 15 cents and closed at $3.20 with 19,195 shares changing hands. Caribbean Flavours closed at $4 with 145,904 shares changing hands, Caribbean Producers traded 557,978 units for a loss of 2 cents to end at $3.08, Consolidated Bakeries traded 17,444 shares to end at $1.65, Derrimon Trading ended with 1,400 shares changing hands at a 52 weeks’ high of $3. Dolphin Cove lost $1.20 with 295,515 units changing hands to end at $10, after trading, the company reported a 4 percent increase in profit after tax for the nine months to September, of $412 million over the outturn for the 2014 and a 17 percent increase in the September quarter, to $128 million. JM - Trade sht 28-10-15 General Accident ended with 400,882 shares changing hands and fell 15 cents to $1.90, Lasco Distributors with 442,302 shares changing hands, closed 5 cents higher at $3.06 after hitting $3.40 during trading. Lasco Financial lost ground with results that were flat, but with promise of improvement later, fell 18 cents to $2.45, after trading earlier at $2.65, with 841,230 shares changing hands, Lasco Manufacturing traded 270,065 shares to end at $3.25 while gaining 14 cents and Medical Disposables ended with 80,000 units changing hands for 5 cents lower to end at $2.50.

Filed Under: JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , ,

Bulls tamed a bit still active on JSE

October 28, 2015 by

Grace Kennedy traded at a new 52 weeks' high of $70.

Grace Kennedy traded at a new 52 weeks’ high of $70.

Cable and Wireless was the dominant trade on the Jamaica Stock Exchange on Wednesday as bulls continued their rampage and pushed the market to yet another record high of 144,941.37 points after adding 1,786.99 points on the all the all Jamaica Composite Index. The Jamaica telecom giant, traded nearly 8 million units, just under two thirds of the volume traded for the day.
A total of 13 stocks rose, 16 declined as 37 securities, totalling 12,318,211 units valued at $44,798,394 changed hands, in all market segments. A total of 6 stocks ended at 52 weeks’ closing highs and one at a 52 weeks’ low. The JSE Market Index shot up 1,599.02 points to 13,628.83, a new closing high. JSE combined index climbed 1,437.67, points to end at a new closing high of 134,837.57.
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 8 stocks with bids higher than their last selling prices and 2 with offers that were lower.
JSE Sum 28-10-15In trading, Barita Investments trading for only the fifth time in October, lost 4 cents in trading 77,450 shares at $2.56, Berger Paints traded 58,499 shares to close at $3.40, Cable and Wireless closed with a gain of 4 cents as with 7,878,875 shares changed hands to end at 52 weeks’ high of $1.30. The stock traded between $1.25 and $1.50 with an average price of $1.44 and closed 1,850 units on the bid at $1.25 and with 63,000 shares on the offer at $1.30. Thursday’s trading could set the stage for the next few days of trading in the stocks. Caribbean Cement lost 49 cents to end at $18.01, with 12,658 shares changing hands. Cement closed with seven lots being offered amounting to just under 375,000 shares between mostly between $18.90 and $24, bids are 100,000 at $17.80 and 293,000 at $17.51, with the sellers having the upper hand currently. Carreras ended at with 9,664 share trading at $53 after. Desnoes & Geddes had 152,548 units changing hands to close at $30, Gleaner traded 150,833 shares at $1.86 for a 6 cents gain, Grace Kennedy exchanged 26,870 shares at $70 to close at a new 52 weeks High as the price gained $3.50, Jamaica Broilers traded 95,595 shares to close at $8.01. Jamaica Producers gained 10 cents to $20.70 with only 3,000 units in closing at a new 52 weeks high, Jamaica Stock Exchange also closed at a new 52 weeks high with 3,380 shares trading to end at $9.75, JMMB Group gained 10 cents in trading 107,923 shares to close at $9.85. JSE fn qts 28-10-15 National Commercial Bank with 29,361 shares changing hands closed at $31.50, Pan Jamaican price traded 34,410 shares to end at $90, for a new 52 weeks’ high, Sagicor Group jumped 70 cents with 197,308 shares trading to close at a new 52 weeks’ high of $15. Sagicor Real Estate Fund traded 6,680 units as the price gained $1 to close at $11 for a 52 weeks’ high. Scotia Group ended with 74,384 shares trading closed at $26 after falling by 50 cents, Supreme Ventures ended at $3.81 with 78,000 units changing hands and lost 9 cents and Proven Investments ordinary share closed with a small loss 67,987 units traded to end at 23.98 US cents.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , ,

Ambush Marketing be careful

October 28, 2015 by

Danielle Stiebel, Associate , Myers, Fletcher & Gordon (MF&G), during her presentation on “Ambush Marketing”.

Danielle Stiebel, Associate , Myers, Fletcher & Gordon (MF&G), during her presentation on “Ambush Marketing”.

Ambush Marketing is seen as a clever marketing strategy, but it has negative effects that impede on the rights of sponsors and other corporations who are victims of such acts.
Ambush Marketing is “a promotional tactic designed to associate a company, product or service with a particular event, or to attract the attention of people attending the event, without payment being made for an official sponsorship”, attorney Danielle Stiebel of Myers Fletcher & Gordon (MF&G) said in delivering a presentation on “Ambush Marketing” at a Wednesday Morning Breakfast Seminar hosted by the Jamaica Chamber of Commerce (JCC) and MF&G recently at the New Kingston Conference Centre.
Stiebel cautioned that marketers while being creative in their campaigns must avoid infringing various event players’ rights. In like manner, she said that in order to safeguard against ambush, sponsors must prepare well drafted sponsorship agreements that adequately protect their rights and provide for sufficient remedies in the event of breach. She also emphasised the need for organisers/promoters to be more vigilant in protecting sponsorship rights through proper protective and enforcement measures.
Earlier this year there was an outcry by Cable & Wireless one of the major sponsors at Boys and Girls alethic championship in Kingston about ambush marketing by one of it’s competitors at the event raising awareness in the topic.

Filed Under: General Business News Tagged With: , , , , ,

National Gas holds at $23 on TTSE

October 28, 2015 by

TCL hits a new high on Wedessday

TCL hits a new high on Wedessday

Trinidad and Tobago NGL traded on the Trinidad and Tobago Stock Exchange on Tuesday at $23 with 26,360 shares valued at $606,280 changing hands. The stock continues under selling pressure as it closed with a bid of $22.75 to buy 12,000 shares with 93,197 units on offer at $23.
Activity on the Stock Exchange, ended with 13 securities trading with 3 stocks closing higher, 1 declined and 9 remained unchanged as a total of 209,912 units, valued at $3,879,300 changed hands.
At the close the Composite Index ending with a gain of 0.41 points at 1,147.87, the All T&T Index advanced by 0.80 points to 1,950.84 and the Cross Listed Index remained at 45.24.
Gains| Clico Investment Fund closed 1 cent higher with 48,296 shares valued at $1,087,074 to end trading at $22.50, National Flour Mills with 51,618 shares trading, gained 6 cents in closing at $1.96 and Trinidad Cement closed 10 cents higher at a 52 weeks’ high of $3.40 with 5,950 shares changing hands as investors responded positively to the company’s nine months results showing profit rising to $394.5 million from $60 million in 2015.
losses| Massy Holdings lost 5 cents to close with 3,978 shares trading at $62.40.
Firm Trades| First Citizens Bank traded 18,085 shares valued at $632,975 and closed at $35, Guardian Holdings closed with 16,287 shares valued at $208,473 changing hands at $12.80, Guardian Media traded 651 shares with the price remaining at $19.77, JMMB Group with a volume of 160,215 shares being traded at43 cents.TTSE sum 28-10-15 National Commercial Bank in trading 54,404 shares closed at $1.67, National Enterprises with 914 shares changing hands, closed at $16.50, Republic Bank traded 4,347 shares valued at $486,864 and closed at $112. Sagicor Financial Corporation closed with 1,886 shares changing hands at $5.75, Scotiabank traded 6,540 units with a value of $408,750 at $62.50 and Scotia Investments traded 25,000 units at $1.61.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than the last selling price and 3 stocks with offers that were lower.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , ,