The main market of the Jamaica Stock Exchange ended October on the up but is down a significant 23,316.22 points for the month and 7 percent below the peak reached in early August.
At the close, the JSE All Jamaican Composite Index climbed 3,949.97 points to close at 543,754.31, the JSE Index advanced 3,577.89 points to 495,187.93 and the JSE Financial Index gained 0.33 points to close at 133.41.
Trading closed with 44 securities changing hands in the main and US dollar markets with 21 stocks advancing, 11 declining and 12 traded firm. Main market activity ended with 40 securities trading 38,125,741 units valued at $101,388,568, in contrast to 29,380,399 units valued at $238,224,184 on Tuesday with 38 securities trading.
Wigton Windfarm dominated trading with 30 million shares for 80 percent of total volume, followed by Sagicor Select Funds with 3.25 million units accounting for 9 percent of the day’s trade and Carreras with 1.2 million shares for 3 percent of the market’s trade.
The market closed with an average of 953,144 units valued at $2,534,714 for each security traded, in contrast to 773,168 units valued at an average of $6,269,057 on Tuesday. The average volume and value for the month to date amounts to 957,274 units valued at $13,330,997 and previously an average of 957,488 units valued at $13,947,047 for each security traded. The market closed out September with an average of 1,585,081 units valued at $14,071,562 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 19 stocks ended with bids higher than their last selling prices and just 1 with a lower offer. The PE ratio of the market ended at 17.1 with the main market ending at 17.9 times 2019 current year’s earnings.
In main market activity, Barita Investments lost $1 to settle at $70 trading 33,922 shares, Caribbean Cement ended at $77, after gaining 50 cents in exchanging 7,900 shares, Carreras ended with 1,216,915 shares trading and gained 90 cents to close at $8.80. Eppley Caribbean Property Fund added $2 and closed at $34 with 1,000 shares changing hands, Eppley gained 50 cents to close at $16, in swapping 100 shares, Grace Kennedy jumped $1.32 while exchanging 17,906 shares, to end at $67.49. Jamaica Broilers closed 85 cents higher at $34 with 13,729 shares changing hands, Jamaica Stock Exchange rose 58 cents to $29.50 in trading of 104,408 shares, MPC Caribbean Clean Energy rose to another record high with a gain of $5 to close at $260, after trading of 500 shares. Investors in the stock were responding to the 3 for 1 rights issue scheduled for November at $140 per share. NCB Financial declined to $203, after losing $2 in exchanging 27,999 shares, 138 Student Living closed 50 cents higher to end at $4 with 100 shares changing hands, PanJam Investment closed at $100, after rising $2.05 with an exchange of 20,250 shares. Proven Investments traded 515 shares and jumped $5 to end at $45, Sagicor Real Estate Fund rose 29 cents to $11.89 with an exchange of 30,100 shares, Salada Foods added 30 cents to settle at $29.30 after 2,832 shares crossed the exchange. Scotia Group gained $1.70 to close at $55 as investors swapped 22,215 shares, Seprod jumped $2.32 to close at $54, trading 47,960 units, Stanley Motta closed at $5.74 with a rise of 34 cents, after exchanging 46,937 shares. Sygnus Credit Investments closed 24 cents lower to end at $21.26 after trading 54,201 shares and Wisynco Group rose $1 exchanging 1,044,580 shares to close at $22 before the company reported a 53 percent rise in profit for the September quarter.
Trading in the US dollar market ended with 26,512 units valued at US$6,713 with the market index rising 9.18 points to close at 202.56. Productive Business Solution increased 2.5 cents and completed trading at 60 US cents exchanging 6,800 shares, Proven Investments lost 0.9 US cent trading 7,692 units to close at 27 US cents, Sterling Investments lost half a cent and closed at 2.2 cents US after trading 10,000 shares and Sygnus Credit Investments exchanged 2,020 shares to end at 14 US cents.
Archives for October 2019
Strong first quarter for Wisynco
According to brothers William and Andrew Mahfood, Chairman and Chief Executive Officer respectively, in their joint commentary accompanying the quarterly, “we had very strong growth in our core beverage brands as a result of increased demand and improved efficiencies in plant productivity. In addition, the strategic alliances between Worthy Park and St Mary’s Snacks along with increasing revenue from other portfolios contributed to drive revenues to new highs.”
The quarterly revenues are much higher than the $6.9 billion generated in the June quarter and profit of $694 million after-tax. Gross Margin slipped to 36.8 from 38.2 percent in 2018 but Gross Profit still increased to $3.3 billion or 29.8 percent above the $2.6 billion achieved in the June 2018 quarter.
According to the directors, “the leveraging of our distribution system with the new portfolios, while driving revenue growth, favorably impacted our expense to sales ratio that declined to 22.5 percent of sales from the 25.6 percent for the first quarter of 2019. Selling, Distribution and Administrative expenses for the quarter increased by 18 percent to $2 billion above the $1.7 billion for the prior year and well below the increased revenues. For the quarter ended September 30, 2019, Wisynco recorded Net Profits Attributable to shareholders of $1.2 billion or 31 cents per share compared to $769 million or 21 cents per share, an improvement of 47.6 percent over the corresponding period of the prior year.
The Group had equity capital of $12 billion with loan funding of $2.6 billion but with cash and investment funds at $5.5 billion after the Group operations delivered cash inflows of $1.64 billion. Net Current Assets stood at $6.2 billion with current assets of $11.5 billion.
IC Insider.com projects earnings of $1.40 for the current fiscal year with revenues reaching just under $37 billion and $1.95 for 2021. The stock closed at $22 and now sells at a PE ratio of 15 times the current year’s earnings and is fairly valued currently and seems to hold good long-term growth potential.
Falling TTSE stocks in spotlight – Wednesday
Market activity on the Trinidad & Tobago Stock Exchange closed on Wednesday with 15 securities trading against 15 on Tuesday, with 3 stocks advancing, 5 declining and 7 remaining unchanged.
At the close of the market, the Composite Index lost 8.91 points to 1,400.44. The All T&T Index declined 3.24 points to close at 1,755.85, while the Cross Listed Index shed 2.01 points to close at 141.60.
Trading ended with 375,891 shares valued $4,147,273, compared to 195,765 shares valued $3,121,985 shares on Tuesday.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at 3 stocks with bids lower than their last selling prices and 4 with lower offers.
Gains| First Citizens Bank closed with an increase of 29 cents and settled at $40.80, with 2,520 shares changing hands, Sagicor Financial ended trading of 1,052 stock units with a rise of 3 cents to close at $10.68 and Trinidad & Tobago NGL rose 1 cent in exchanging 3,143 units to close at $25.69.
Losses| Calypso Micro Index Fund lost I cent in trading 200 shares and closed at $15.75, Clico Investment Fund fell 4 cents to end at $24.06, with investors exchanging 29,967 stock units, First Caribbean International Bank closed with a loss of 45 cents and completed trading at $8.55, after exchanging 27,361 shares. Guardian Holdings shed 7 cents and completed trading at $18.35, with 200 units crossing the exchange and Republic Financial dropped $1.19 and ended at $122.06, with 235 shares crossing the exchange.
Firm Trades| Ansa Merchant Bank settled at $35.75, with 26 stock units changing hands, Grace Kennedy closed at $3.40, trading 57,991 units, National Flour completed trading at $1.49, with investors exchanging 20,000 shares. NCB Financial settled at $10.65, after exchanging 230,437 stock units, Scotiabank settled at $59.47, with just 5 units changing hands, Unilever Caribbean closed at $24.50, after exchanging 112 shares and West Indian Tobacco concluded trading at $105, with investors exchanging 2,642 stock units.
Prices of securities trading are those at which the last trade took place.
Gemini Man tapering off
Gemini Man starring Will Smith continues to pull in patrons at Palace Amusements’ four cinema houses this week, with 8 shows daily until Thursday, tapering off to 5 starting Friday.
The movie that also features Mary Elizabeth Winstead is enjoying its fourth week in all cinema houses twice per day but will drop to 5 showings per day commencing Friday this week. Maleficent Mistress of Evil with Angelina Jolie which opened on Friday, October 18 with 4 shows in all cinemas and was up to 7 showings last week Wednesday, is now down to 6 and will decrease on Friday to just three. Jokers which has had great success overseas started with 8 shows on October 4 and declined to 5 from October 9 to October 16 but was down to just 2 daily showings last week and continues with two shows on Wednesday and one show this Friday.
New at the movies last week were Black and Blue starring Naomie Harris and Tyrese Gibson, opening with seven daily shows in all cinemas and continuing with 6 on Wednesday but will be back to seven showings on Friday. The Informer featuring Joel Kinnaman, Rosamund Pike and Clive Owen that opened last week with six daily showings in 3 cinemas ended after just one week.
Joining the Palace Amusement line up on Wednesday, with 4 shows per day in the four cinemas houses, are – Downton Abbey the continuing story of the Crawley family, wealthy owners of a large estate in the English countryside in the early 20th century, and Mary, the tale of a family looking to start a charter-boat business, buying a ship that holds terrifying secrets once out on isolated waters.
The legendary, Terminator in which Sarah Connor and a hybrid cyborg human must protect a young girl from a newly modified liquid Terminator from the future opens on Friday with two shows per day in each cinema.
Falling TTSE stocks outdo risers – Tuesday
Market activity on the Trinidad & Tobago Stock Exchange after closing on Monday resumed on Tuesday with 15 securities trading against 18 on Friday, with 2 stocks advancing, 5 declining and 8 remaining unchanged.
At the close of the market, the Composite Index lost 1.50 points to end at 1,409.35. The All T&T Index fell 0.36 points to 1,759.09, while the Cross Listed Index slipped 0.37 points to close at 143.61.
Trading ended with 195,765 shares valued $3,121,985, compared to 73,298 shares valued $1,836,526shares on Friday.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at 5 stocks with bids lower than their last selling prices and 2 with lower offers.
Gains| First Citizens Bank advanced by 1 cent and settled at $40.51, after exchanging 1,775 shares and Republic Financial rose 33 cents to close at $123.25, after exchanging 2,232 shares.
Losses| Angostura Holdings lost 3 cents and ended at $16.02, after exchanging 2,000 shares, First Caribbean International Bank lost 5 cents and concluded trading 1,907 shares at $9 completed. NCB Financial lost 1 cent and settled at $10.65, with 133,046 stock units changing hands, Scotiabank dropped 28 cents and settled at $59.47, after exchanging 2,191 units and Trinidad & Tobago NGL lost 2 cents in exchanging 3,566 units to close at $25.68.
Firm Trades| Clico Investment Fund to finish at $24.10, with 24,132 units crossing the exchange, Guardian Holdings finished at $18.42 and ended with 8,839 units crossing the exchange, Massy Holdings concluded trading with a gain of $55 completed trading at $55.00, with 4,232 units. National Enterprises ended at $5.70, with 500 stock units changing hands, One Caribbean Media ended at $10, with 800 units changing hands. Trinidad Cement closed at $2 completed trading of 9,700 shares, Unilever Caribbean to finish at $24.5 settled at $24.50, with 100 units and West Indian Tobacco closed at $105 with investors exchanging 745 shares.
Prices of securities trading are those at which the last trade took place.