Archives for September 2019

4 TTSE stocks rise 4 fall – Monday

September 23, 2019 by

Trinidad & Tobago Stock Exchange closed on Monday with trading in 13 securities against 16 on Friday, with 4 advancing, 4 declining and 5 remaining unchanged as the market indices moved marginally.
At close of the market, the Composite Index slipped 0.04 points to 1,403.98. The All T&T Index lost 0.14 points to 1,753.07, while the Cross Listed Index gained 0.01 points to close at 142.99.
Trading ended with 1,431,488 shares at a value of $4,229,045, compared to 122,753 shares at a value of $4,229,045 shares on Friday.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with 3 stocks closing with the bids higher than the last selling prices and 3 with lower offers.
Gains| Guardian Holdings added 5 cents in trading just 100 units at $18.15, Massy Holdings increased 44 cents and completed trading of a mere 10 shares at $54.45, National Flour rose 3 cents to end at $1.68, with 1,295 units crossing the exchange and Republic Financial closed with a gain of 15 cents to conclude the swapping of 1,471 shares at $122.
Losses| Clico Investment Fund shed 4 cents and ended at $24.11, with 30,830 stock units changing hands, First Caribbean International Bank closed at $9.25 with 300 stock units changing hands, Trinidad & Tobago NGL exchanged 6,640 units and lost 10 cents to close at $25.90 and West Indian Tobacco dropped 99 cents and concluded at $105, with 25 units.
Firm Trades| Angostura Holdings completed trading at $16, swapping of 5,144 shares, First Citizens settled at $40.15, swapping of 1,878 shares, JMMB Group ended at $2.15, after exchanging 2,000 shares and Sagicor Financial completed trading with 2,397 units at $10.22 and Scotiabank settled at $58.50 in swapping of 2,400 shares.

Prices of securities trading are those at which the last trade took place.

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

Drop in CAC 2019 profit

September 23, 2019 by

CAC last traded at $13.10.

The past twelve months have been tough for air-conditioning company CAC 2000 with sales and profit plummeting as major road works around their business place disrupted business in a serious way.
Revenues and profits were significantly impacted by the disruption to business resulting from major road works in the Spanish Town and Hagley Park Road area. Additionally, to compliance with IFRS 15 which stymied revenues by an estimated 10 -20 percent, chopping $171 million off revenues for the nine months, Steve Marston, the company’s Chairman and CEO reported to shareholders in a commentary included with the quarterly financials.
Profit in the July quarter plummeted 326 percent from a profit of $19 million in the corresponding 2018 period to a loss of $43 million as sale revenues fell by 22.5 percent for the quarter to $221 million from $285 million in 2018 and declined 19 percent for the year to date to $738 million from $909 million in 2018. For the nine months to July, profit dropped 154 percent from $72 million in 2018 to a loss of $39 million.
Cost of sales fell 14 percent in the quarter, compared to 10 percent for the year to date leading to a fall in gross profit margin in the nine months to 32 percent from 39 percent in the 2018 period. Gross profit margin declined 30 percent from 36 percent in the 2018 quarter. Other income that included income from professional service undertaken in Barbuda declined from $4.4 million to just $73,478 for the quarter but jumped sharply in the nine months to $47 million from just $7 million in 2018.

Steven Marston,
Chief Executive Officer

Selling & Distribution expenses fell 49 percent to $5.3 million in the July quarter and 42 percent for the year to date to $16 million. Administrative and other expenses rose 24 percent to $97 million in the quarter and increased 13 percent in the nine-month period to $291 million. Finance cost rose in the quarter to $6 million from $5.5 million in 2018 and increased to $18 million from $17 million for the nine months. CAC paid a dividend amounting to $4.5 million in 2019.
Gross cash flow was negative with the consumption of $26 million but the company still ended with more cash funds at the end of the period of $149 million. At the end of July. Current assets ended the period at $1.06 billion inclusive of trade and other receivables of $522 million. Current liabilities stood at $459 million including Payables of $381 million. Shareholders’ equity stood at $444 million with borrowings at just $208 million.
The future for the company for the current fiscal year lies in the ability to close as many of the projects of the more than $800 million of projects Management says is on hand.
Companies hurt from temporary disruptions can be candidates for big recovery in stock price when they return to normal operations CAC seems to one such entity. Investors in looking at this company should focus on the next fiscal year when the operations should not suffer from the disruptions encountered in the past year. Earnings per share ended with a loss of 33 cents for the quarter and a loss of 31 cents for the nine months. The company’s shares are listed on the Junior Market of the Jamaican Stock Exchange and last traded at $13.10.

Filed Under: Company News, Company Results

Jamaica’s all season tourism

September 22, 2019 by

Jamaica enjoying strong growth in stopover arrivals in 2019

A few decades ago, some hotels in Jamaica closed their doors during the summer months until December.
Much has changed since with the summer months last year pulling in more long-stay quests than the winter months.
Last year, the winter months of January to March saw 625,002 stopover visitors coming to Jamaica while 629,486 came in the April to June period. July 2018 had the most stopover arrivals to that point with 257,050 visitors with March, having 236,818 being the next highest. February 2018 with the least number of days had 193,575 visitors and was the lowest of the seven-month period.
Stopover visitor arrivals in 2019 March with 271,642 had the most just beating out July’s 270,462.
For 2019, the January to March period saw the industry recording a 13.3 percent increase over the same period in 2018 to reach 708,297 visitors and almost 26,000 more than the April to June 2019 period with total stopover arrivals of 682,386.
The less important cruise arrivals declined in 2019 to July with 979,648 passengers compared to 1,134,006 in 2018. While the first three months fell by 6.7 percent to 728,265 the second quarter declined by 23 percent to just 273,823 passengers, pushed by a 41 percent fall in May and 28 percent decline in June. In July the fall off was 25.5 percent with 77,560 arrivals versus 104,127 in 2018.

Filed Under: Economy Tagged With:

IC TOP 10 relatively stable

September 22, 2019 by
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Jamaica Broilers announced a new acquisition last week

The Jamaica stock market was impacted last week by fresh share insurances and acquisitions by two IC TOP 10 listed companies.
Investors’ attention was on pumping funds into Barita Investments’ rights issue and QWI Investments’ initial public offering in the past week and led to more muted market activity, with the latter attracting more than 4,000 investors and in excess of $1.5 billion.
Other major developments in the past week were the announcement that TOP 10 BUY RATED General Accident picked up 55 percent of the Trinidad based Motor One Insurance company but investors hardly seem to notice. Another Top 10 listing, Jamaica Broilers announced yet another takeover of a poultry processing plant in the USA. Market activity in the coming week will be further affected with Proven Investments selling half of their holdings in Access Financial stock by way of a public offer, at an attractive price of $32 each. Market conditions resulted in just two changes to IC TOP 10 BUY RATED list as CAC 2000 returned to the top 10 Junior Market list, replacing Caribbean Cream and Scotia Group moved back into the main market listing at the expense of Seprod.
Changes in prices left Caribbean Producers with projected gains of 233 percent, followed Iron Rock by with likely gains of 201 percent and tTech with projected gains of 167 percent as the three most attractive Junior Market stocks.
Radio Jamaica closed the week with projected gains of 163 percent as the leading main market stock with the price falling to $1.90 by the end of the week. Berger Paints sits at the number two spot with projected gains of 121 percent as more interest comes in for this stock coupled with reduced selling ahead of the most important quarter coming up when sales exceed all other quarters and Carreras with projected gains of 112 percent.
The main market, closed the week with the overall PE of 16.7 down from 17.7 the previous week and the Junior Market is down to 11.3 from 11.6 based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 7.8 compared to 7.7 the previous week and the main market PE slips to 10.4. These levels of PE ratios point to big upside for TOP 10 stocks.
The TOP 10 stocks now trade at an average discount of 31 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 38 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns to March next year. Projected earnings, along with the PE ratio for each company’s current fiscal year are used in determining potential gains. The likely gains are ranked in descending order, with the highest-ranked being the most attractive and moving down the least attractive. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have an interest in the securities commented on.

Filed Under: Buy Rated Tagged With: , , , , , , , , , , , , , , , , , , , , , , ,

JSE closed down but most stocks rise

September 20, 2019 by

Trading on the main market of the Jamaica Stock Exchange ended on Friday with advancing stocks outnumbering declining ones two to one but the market indices ended down.
At the close of trading, 37 securities changed hands in the main and US dollar markets with 19 advancing, 10 declining and 8 traded firm. The JSE All Jamaican Composite Index lost 257.65 points to close at 564,991.17, the JSE Index dipped 287.95 points to 514,143.38 and the JSE Financial Index closed down 0.42 points at 140.19.
Market activity ended with 36 securities trading and leading to 32,896,372 units valued at $273,937,492 crossing the exchange, in contrast to 127,989,935 units valued at $1,190,939,292 from 36 securities on Thursday.
Wigton Windfarm dominated trading with 18.4 million shares for 56 percent of total volume, followed by Carreras with 8.1 million units accounting for 25 percent of the day’s trade, Sagicor Select Funds with 2.4 million shares for 7 percent of the market’s trade.
The Market closed with an average of 913,788 units valued at an average of 7,609,375 for each security traded, in contrast to 3,555,276 units valued at an average of $33,081,647 on Thursday. The average volume and value for the month to date amounts to 1,101,922 units valued at $9,772,487 and previously an average of 1,115,047 units valued at $9,934,383 for each security traded. The market closed out August with an average of 1,743,431 units valued at $9,907,963 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 5 with lower offers.
In main market activity, Barita Investments advanced $2.35 to settle at $73 with 2,590 units traded, Carib Cement exchanged 10,028 units, adding 99 cents to close at $80.99, Eppley Caribbean Property dropped $1 to end at an all-time low of $35, after trading 310 shares, Eppley gained 80 cents with 1,125 shares changing hands to end at $14. Jamaica Broilers ended at $35 after climbing 50 cents with 1,146,446 shares changing hands, Jamaica Producers advanced $1.25, in settling at $25 with 6,800 shares traded, JMMB Group lost 99 cents, ending the day at $46 after exchanging 67,792 shares, Kingston Wharves closed $1 lower at $60 in trading 16,500 shares. NCB Financial advanced 90 cents to settle at $214.90 with 203,395 units traded, PanJam Investment gained 50 cents in ending at $102.50 after exchanging 15,009 shares, Proven Investments lost 50 cents and ending the day’s trade at $37 with 5,940 shares changing hands. Salada Foods climbed $2 to $32, after exchanging 60,276 shares, Scotia Group gained 50 cents to end at $57.50 with trades of 77,639 shares, Seprod advanced $2.59 to settle at $56.10 with 4,900 units changing hands. Supreme Ventures gained 40 cents to end at $28 exchanging 349,173 shares, Sygnus Credit Investments lost 90 cents after trading 13,267 to settle at $23.10 and Victoria Mutual Investments added 50 cents after 401,515 units changed hands to close at $8.
Trading in the US dollar market ended with 53,681 units valued at US$13,759 with the market index slipping 0.64 points to close at 196.88 as Proven Investments the sole trade closing at 26 US cents.

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

Junior Market trades flat- Friday

September 20, 2019 by

The Junior Market Index slipped 4.73 points to close at 3,449.27 on Friday with 26 securities changing hands, with 11 securities rising, 11 declining as 4 remained unchanged.
Trading resulted in an exchange of 2,702,763 units valued at $10,370,231 compared to 8,459,100 units at $64,413,332 on Thursday from 27 securities.
Market activity ended with an average of 103,952 units for an average of $398,855 in contrast to 313,300 units for an average of $2,385,679 on Thursday. The average volume and value for the month to date amounts to units 1,269,357 valued at $3,264,913 and previously 1,377,283 valued at $3,452,615. August ended with an average of 232,398 units valued at $1,072,851 for each traded security.
IC bid-offer Indicator| At the close of trading, the Investor’s Choice bid-offer indicator reading shows 9 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the market, AMG Packaging declined 18 cents to settle at $1.82 with an exchange of 15,361 shares, Blue Power traded 1,196 shares, after rising 55 cents to end at $8.99, Caribbean Cream lost 29 cents in trading 5,587 shares to close at $5, Caribbean Producers exchanged 253,849 shares after rising 5 cents to end at $4.80. Consolidated Bakeries closed 5 cents higher at $1.70, with 2,000 stock units trading, Derrimon Trading dipped 5 cents in trading 26,297 units at $2.47, Express Catering closed trading of 110,546 units and gained 49 cents to end at $6.50, Elite Diagnostic closed with a loss of 15 cents at $5.60, after swapping of 33,370 shares. Fosrich ended trading with 27,594 shares, after rising 3 cents to end at $4.93, Fontana fell 5 cents in trading of 99,103 units at $8.10, General Accident lost 15 cents in trading 117,978 shares to close at $6.25, GWest Corporation closed 2 cents higher at $1.07, with 45,000 stock units trading. Honey Bun lost 20 cents to close at $6.20, after swapping of 1,116 shares, iCreate closed 2 cents higher at 77 cents, with 151,499 stock units trading, Indies Pharma shed 13 cents trading 53,023 units at $3.30, Jamaican Teas closed trading of 80,953 units and gained 2 cents to end at $5.98. Knutsford Express ended trading with 5,713 shares, after rising 4 cents to end at $10.99, Limners and Bards ended market activity exchanging 1,236,217 shares to close at $2.52 after falling 30 cents, Lasco Financial closed with a loss of 32 cents at $4.68, in swapping of 37,300 shares. Medical Disposables closed trading of 68,130 units and gained 70 cents to end at $8.10 and Main Event closed 4 cents higher at $5.65, with 3,648 stock units trading. In the Junior Market preference segment, CAC 2000 lost 4 cents in trading 44,500 shares to close at $1.10.

Prices of securities trading for the day are those at which the last trade took place.

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

4 TTSE stock rise 4 fall – Friday

September 20, 2019 by

Trinidad & Tobago Stock Exchange closed on Friday with trading in 16 securities against 15 on Thursday, with 4 advancing, 4 declining and 8 remaining unchanged.
At the close of the market, the Composite Index shed 0.73 points to 1,404.02. The All T&T Index fell 0.28 points to 1,753.21, while the Cross Listed Index lost 0.16 points to close at 142.98.
Trading ended with 122,753 shares at a value of $4,229,045, compared to 373,409 shares at a value of $17,808,818 shares on Thursday.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with 2 stocks closing with the bids higher than the last selling prices and 4 with lower offers.
Gains| Grace Kennedy added 1 cent and concluded trading of 1,500 units at $3.26, NCB Financial gained 15 cents and settled at $10.50, in swapping of 3,063 shares, Point Lisas closed with a gain of 7 cents at $3.69, with investors exchanging 100 shares and Sagicor Financial gained 1 cent and completed trading 1,596 stock units at $10.22.
Losses| Angostura Holdings fell 5 cents and completed trading at $16, with 1,500 units crossing the exchange, Guardian Media closed with a loss of 25 cents and settled at a 52 weeks’ low of $8.75, in exchanging 500 shares, JMMB Group shed 5 cents and completed trading of 45,000 units at $2.15 and Scotiabank ended with a loss of 15 cents to settle at $58.50, with the trading of 1,734 units.
Firm Trades| Clico Investment Fund ended at $24.15, with 4,510 stock units trading, First Citizens settled at $40.15, with investors exchanging 17,742 shares, Guardian Holdings ended at $18.10, with 8,365 stock units changing hands. National Flour completed trading at $1.65, with 1,250 units crossing the exchange, One Caribbean Media ended at $10, in swapping of 695 shares, Republic Financial concluded trading at $121.85, with 21,434 stock units changing hands Trinidad & Tobago NGL exchanged 13,474 units to close at $26. and Unilever Caribbean completed trading at $24.98, with 290 stock units changing hands.

Prices of securities trading are those at which the last trade took place.

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

Stanley Motta doubles Q2 revenues

September 20, 2019 by

Stanley Motta 58 Half Way Tree building.

Rental revenues rose 105 percent for the quarter to $109 million from $53 million and climbed 118 percent for the 6-months to $205 million from $94 million in 2018, resulting from increased rental space in May of 2018 at real estate holding company Stanley Motta.
Profit soared 302 percent in the quarter ending June to $46 million, up from $12 million in 2018.
For the six months to June, profit grew a stunning 418 percent over the $22 million earned for the same period in 2018 to hit $115 million. The sharp increase in income is due from added rental space let from the completion of the newly constructed building, the larger tenanted unit that was handed over to the new tenant in May last year.
Operating margin before finance cost in the first half of the year, climbed 48 percent, from 50 percent in the year 2018, and by 55 percent in the quarter from 41 percent in 2018. Operating profit rose by 176 percent in the quarter to $59 million from $21 million in the 2018 quarter and increased 198 percent from $47 million to $139 million for the half-year.
Administrative expenses rose 56 percent to $49 million in the quarter and by 38 percent in the six-month period to $65 million, due to a foreign exchange loss of $19 million on the revaluation of the long-term loan and the cost of producing the 2018 annual report. Finance cost increased to $13 million from $10 million in the 2018 quarter and declined from $24 million to $22 million for the six-month period.
The Company ended June with shareholders’ equity of $3.9 billion, current assets of $62 million, current liabilities of $173 million. Cash funds ended at $47 million paying an interim dividend of $93 million. Amounts owing to creditors amounted to $114 million and long-term borrowings stood at $708 million. Real estate held amounted to $4.7 billion in value.
Earnings per share came out at 6 cents for the quarter and 15 cents for the six months. IC Insider.com is forecasting 30 cents per share for the full year from operations but gains in the value of the property will most add to reported profit by the end of the year. was paid in the year to date. The stocks that are listed on the Jamaica Stock Exchange closed at $6 on Thursday.

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

JSE main market bounces

September 19, 2019 by

Sagicor Real Estate Fund traded the most stocks on Thursday.

The main market of the Jamaica Stock Exchange enjoyed a bounce on Thursday with the main market indices rising as advancing just inched out declining ones.
he All Jamaican Composite Index jumped 2,913.59 points to close at 565,248.82, the JSE Index climbed 2,606.47 points to 514,431.33 and the JSE Financial Index gained 1.04 points to close at 140.61.
At the close of trading, 39 securities changed hands in the main and US dollar markets with 14 advancing, 13 declining while 12 traded firm. Main market activity ended with 36 securities trading comprising 127,989,935 units for $1,190,939,292, in contrast to 36,372,802 units valued at $343,567,278 on Wednesday from 33 securities.
Sagicor Real Estate Fund dominated trading with 92.4 million shares for 72 percent of total volume, followed by Wigton Windfarm with 22.4 million units accounting for 17.5 percent of the day’s trade, Carreras with 5.2 million shares for 4 percent and Sagicor Select Fund traded 3.2 million shares for 2.5 percent of the market trade.
The Market closed with an average of 3,555,276 units valued at an average of $33,081,647 for each security traded, in contrast to 1,102,206 units valued at an average of $10,411,130 on Wednesday. The average volume and value for the month to date amounts to 1,115,047 units valued at $9,934,383 and previously an average of 932,030 units valued at $8,061,795 for each security traded. The market closed out August with an average of 1,743,431 units valued at $9,907,963 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 9 stocks ended with bids higher than their last selling prices and 2 with lower offers.
n main market activity, Eppley Caribbean Property Fund closed at the lowest level since listing in August, as the price dipped $2 to $36 having traded 26,535 units, Eppley traded 556 shares but lost 80 cents to end at $13.20, Jamaica Broilers gained 50 cents to settle at $34.50 with 62,963 shares changing hands. Jamaica Producers lost 75 cents to end at $23.75 while trading 773,300 shares, JMMB Group added $3.98 to settle at $46.99 with 67,275 shares changing hands, Kingston Wharves lost $1.01 to end at $61 in trading 225,928 shares. Mayberry Jamaican Equities rose $1.45 to end at $12.45 trading 6,750 shares, NCB Financial gained $4 to end at $214, with an exchange of 63,933 stock units, 138 Student Living traded 571 shares but fell 80 cents to $3.40, Panjam Investment rose 50 cents in trading of 5,973 units to close at $102. Salada Foods lost $2 to settle at $30 with 1,600 shares changing hands, Seprod fell $1.49 to settle at $53.51 with 26,060 shares changing hands, Supreme Ventures lost 40 cents to close at $27.60 with an exchange of 61,648 shares. Sygnus Credit Investments gained $1 and completed trading of 36,516 shares at $24, Victoria Mutual closed trading of 304,823 units after falling 50 cents to end at $7.50 and Wisynco Group added $1 in trading 299,683 shares to close at $24.
Trading in the US dollar market ended with 44,553 units valued at US$8,064 with the market index gaining 0.41 points to close at 197.52. In trading, JMMB Group 6% USD preference share closed with 363 shares changing hands at US$1.01, Sygnus Credit Investments slipped 0.5 US cents to close at 14 US cents and Proven Investments traded 12,795 units at 26 US cents.

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

One TTSE stock rise 5 fall – Thursday

September 19, 2019 by

Trinidad & Tobago Stock Exchange closed on Thursday with trading in 16 securities against 15 on Wednesday, with just one advancing, 5 declining and 10 remaining unchanged.
At the close of the market, the Composite Index shed 3.17 points on to 1,404.75. The All T&T Index fell 0.98 points to 1,753.49, while the Cross Listed Index lost 0.74 points to close at 143.14.
Trading ended with 373,409 shares at a value of $17,808,818, compared to 175,816 shares for $2,075,581 shares on Wednesday.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with 3 stocks closing with the bids higher than the last selling prices and 5 with lower offers.
Gains| Angostura Holdings gained 5 cents and concluded trading at $16.05, with investors exchanging 13,003 shares.
Losses| Massy Holdings dropped 44 cents and concluded at $54.01, with investors trading 277,001 shares, NCB Financial declined 15 cents and ended at $10.35, with 3,542 stock units changing hands. Point Lisas fell 10 cents and concluded at $3.62, with 650 units crossing the exchange, Scotiabank ended with a loss of 9 cents to settle at $58.65, with the trading of 27,931 units and West Indian Tobacco fell 1 cent to $105.99, with an exchange of 5,431 units.
Firm Trades| Ansa Mcal ended at $55, after exchanging 35 shares, Calypso Macro Index Fund traded just 1,000 shares in closing at $15.50, Clico Investment Fund settled at $24.15, with 2,365 stock units changing hands, First Citizens Bank ended at $40.15, in swapping of 3,282 shares, JMMB Group settled at $2.20, with 8,433 stock units changing hands. Prestige Holdings ended at $8.10, with 100 stock units changing hands, Republic Financial completed trading at $121.85, with 108 stock units trading, Sagicor Financial settled at $10.21, in moving 3,571 shares and Trinidad Cement settled at $2, with 24,500 stock units trading and Trinidad & Tobago NGL exchanged 2,457 units to close at $26.

Prices of securities trading are those at which the last trade took place.

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