Cable and Wireless fell by 20 cents to $1 in early trading on Monday with 891,328 units between $1 and $1.20. The stocks now has bid of 98 cents to buy 100,000 shares on the offer is 203,000 units at $1.09. The next closest offer is at $1.10 with 
841,000 shares with the closest bid at 97 cents and then 85 cents.
Trading resulted in 28 securities changing hands with a volume of 2,437,763 units as 20 stocks gained and 3 declined and a number of new all-time highs were reached with the Jamaica Stock exchange.
The Jamaica stock market after 90 minutes of trading, recorded gains in the indices. The All Jamaican Composite index jumped 1,661.85 points to 147,335.46 JSE Market Index rose 1,487.04 points to 132,771.08 the JSE combined index climbed 1,494.67 points to be at 137,277.71 and the junior market index rose 10.15 points to its highest level of 1,335.10.
Archives for November 2015
C&W falls 20 cents to $1 in morning session
RML sheds loss maker grows profit
Readymix West Indies (RML) achieved a net profit after tax of TT$6.3 million for the third quarter of 2015, compared with $2.6 million for the same period last year. Year to date profit after tax for 2015 rose to $13.8 million and is 34 percent above the year to date for 2014, of $10.3 million.
Earnings per share for the quarter amounts to 53 cents versus 33 cents in 2014 for the quarter and $1.16 versus $1 in 2014. The company discontinued operations in Barbados in 2014, excluding losses incurred in the discontinued business, results in earnings of 50 cents per share for the quarter in 2014 and $1.21 for the nine months.
Revenue for the quarter fell 7 percent to $57 million from $61 in 2014. It increased 7 percent for the nine months to $174 million from $162 million in 2014. The decline in sales in the September quarter was “impacted by a slowdown in the construction sector”, chairman of the company Nigel Edwards and the Group CEO, Jose Luis Seijo Gonzalez stated in a joint release with the financials.
The company generated cash flow from operations of $53 million up from $12 million in 2014 and ended with cash and equivalent of $58 million from $12 million in September last year.
RML has equity capital of $105 million, current assets of $111 million, current liabilities of $41 million and non-current liabilities of $10 million.
The company is a subsidiary of Trinidad Cement, its shares are listed on the Trinidad and Tobago Stock Exchange (TTSE), it provides premix concrete mixtures to customers in the construction sector. The stock last traded at $18.79 on the TTSE on January 6 this year but ends trading with a bid of TT17.72 on Friday October 30, putting the value at a PE of 10.
Barita scores big with 376% winner
Much have changed in the Jamaica stock market since September. All the JSE indices hit new record highs during the October. In September a listing of three sets of stock recommendations were reported on.
With October now ended, IC Insider updated the chart to see how well each selector did. We let the readers make their own judgement. Bear in mind that only one month has so far elapsed. Suffice to say, Barita Investment scored big with their Desnoes & Geddes selection, with a gain on of 376 percent to record the biggest gain by far. IC Insider would place a hold on any buying of Cable & Wireless at this stage with the big run up in the price recently and would be cautious on Lasco Manufacturing at current prices although the stock has strong long term growth potential.
Note that the PE ratios in the table was the ratio at the time of selection, with prices having changed the current PE will have mostly moved upwards.
