Archives for May 2023

Increased trading for Trinidad Stock Exchange

May 2, 2023 by

Trading jumped on the Trinidad and Tobago Stock Exchange on Tuesday, with the volume of stocks traded rising 327 percent and the value 170 percent more than on Monday, resulting in 17 securities trading that is similar to trading on Monday, with seven stocks rising, seven declining and three remaining unchanged.
Investors traded 412,485 shares for $6,011,700 compared to 96,512 stock units at $2,228,161 on Monday.
An average of 24,264 units were traded at $353,629 compared to 5,677 shares at $131,068 on Monday, with trading month to date averaging 14,971 shares at $242,338 versus an average for April of 17,776 shares at $261,442.
The Composite Index shed 2.65 points to finish at 1,323.55, the All T&T Index rallied 4.55 points to close at 1,985.41, the SME Index remained at 61.51 and the Cross-Listed Index declined 1.45 points to end at 86.11.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Angostura Holdings dipped 19 cents in closing at $24.20 after an exchange of 80 shares, Ansa McAl fell $4 after ending at $49, with 11,058 units crossing the market, Ansa Merchant Bank climbed $3.64 to close at $46, with 1,020 stocks changing hands, First Citizens Group ended at $50 with an exchange of 5,967 stock units. FirstCaribbean International Bank rose 1 cent to $7.25, with an exchange of 6,810 stocks, GraceKennedy popped 5 cents to end at $4.15 while exchanging 61,850 stock units, Guardian Holdings remained at $25.05 as investors exchanged 112,336 shares, JMMB Group dropped 5 cents to close at a 52 weeks’ low of $1.45 after the trading of 29,024 units. Massy Holdings rose 19 cents to close at $4.99 in switching ownership of 50,544 stock units, National Enterprises shed 7 cents in closing at $3.65 after a transfer of 33,710 units, National Flour Mills rallied 5 cents to end at $1.50 in trading 65,000 stocks, NCB Financial declined 5 cents to $4.02 with 2,480 shares clearing the market. Republic Financial rallied $1 to $136 in an exchange of 7,390 shares, Scotiabank remained at $77.49 after 30 stocks changed hands, Trinidad & Tobago NGL lost 1 cent in closing at $20 as investors swapped 16,107 units. Unilever Caribbean advanced 45 cents in closing at $16.25 as 6,826 stock units passed through the market and West Indian Tobacco shed 5 cents to end at $16.45 with investors transferring 2,253 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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

Revenues & profit explode at Image Plus

May 2, 2023 by

Revenue and profits surged solidly for the most recently Junior Market listed Image Plus Consultants for the financial year ended February 2023, with revenue jumping a robust 40.7 percent to a record $1.094 billion, up from $777 million in 2022 but, with a slower pace of 33 percent in the final quarter of $290 million compared with $218 million in 2022 as the company that specializes in diagnostic services delivered a convincing 123 percent growth in Profit before Tax to $252 million, up from $113 million in 2022.
Profit after tax jumped 139 percent to $236 million over the $94 million generated in 2022. Results equated to earnings per share of 23 cents up from 9 cents in 2022. ICInsider.com revised earnings for the current fiscal year to 40 cents from 30 cents previously and 85 cents for the fiscal year ending February 2025.
Revenue was driven by the growth in case count of 54,840, an increase of 8,469 cases or 18.3 percent over the 2022 financial year, the company advised shareholders in a release accompanying the financials.
Gross profit jumped 39 percent to $716 million from $505 million in the previous year as the company maintained a 39 percent cost of sales for a second year.
Administrative expenses rose 14 percent to $417 million from $365 in 2022, depreciation charge climbed to $43 million versus $36 million in 2022 and finance costs remained almost flat at $7 million.
Current liabilities stood at $138 million, Shareholders’ equity grew from $267 million to $945 million, helped by an infusion of $465 million in proceeds from the IPO earlier in 2023 coupled with the growth of $213 million in the year’s profit.  Long term liabilities amount to $75 million, with current loans amounting to $39 million. Cash and investment funds totalled $492 million and helped to swell Current assets to $811 million from just $223 million at the end of the fiscal year 2022.

Dr. Karlene McDonnough – Chairman of Image Consultants Ltd.

Cash flow generated $271 million, but working capital absorbed $83 million as receivables Increased by $159 million due partially to greater business activity. Addition to fixed assets consumed $152 million, with Lab equipment taking $104 million and leasehold improvement $43 million.
According to management, “a new fluoroscopy unit was acquired for our Winchester location and the relocation of our Ocho Rios operations to a larger space in White River North Commercial Complex in Q3 drove growth in leasehold improvements. The significant increase in patient scan volumes resulted in a growth of $159 million in trade receivables. Management continues to actively manage these receivables and written commitments have been received from the largest payer, which gives us confidence that these receivables will continue to be honoured.”
The company incurred income tax on profit for ten months of the financial year 2023 before listing and will enjoy five years tax free status as JSE Junior Market listed company.
The stock, around $2, is attractive and can potentially deliver good returns for investors at the current price. Investors could benefit from cash dividends as the directors will meet this month to consider a dividend payment.

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

JSE USD market jumps into May

May 1, 2023 by

Trading on the Jamaica Stock Exchange US dollar market ended on Monday, with a 74 percent fall in the volume of stocks changing hands having a 74 percent lower value than on Friday and resulting in nine securities traded, compared to 10 on Friday with two rising, three declining and four ending unchanged and resulting in the US Denominated Equities Index jumping 16.75 points to 236.30 and pushing the market back into positive territory.
Overall, 194,605 shares were exchanged for US$3,511 compared with 742,486 units at US$13,313 on Friday.
Trading averaged 21,6n23 shares at US$390 down from 74,249 shares at US$1,331 on Friday, compared with April with an average of 394,241 units at US$22,357.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.5. The PE ratio is computed based on the last traded price of each stock divided by projected earnings forecasts done by ICInsider.com for companies with their financial year ending between November 2022 and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, Margaritaville remained at 11.48 US cents after a transfer of 25 shares, Productive Business Solutions gained 29.99 cents to end at US$1.8999 as investors exchanged one stock unit, Proven Investments shed 0.19 of a cent in ending at 17.4 US cents after trading 3,996 units, Sygnus Credit Investments lost 0.39 of one cent to close at 9.05 US cents in trading 3,168 stocks, Sygnus Real Estate Finance USD share climbed 1.16 cents to close at 12.16 US cents, with 3,383 stock units crossing the exchange and Transjamaican Highway fell 0.05 of a cent and ended at 1.11 US cents with an exchange of 184,000 stocks.
In the preference segment, Eppley 6% preference share ended at US$1.40 after an exchange of two units, Equityline Mortgage Investment preference share had one share changing hands at US$1.64 and JMMB Group 5.75% remained at US$2, with 29 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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

JSE Main Market bounces into May

May 1, 2023 by
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The Jamaica Stock Exchange Main Market ended on Monday, with the JSE Main Index climbing solidly for a second day to start off the new month, with a bullish tone as the volume of stocks traded climbed 48 percent but with 31 percent lower value than that on Friday, following trading in 57 securities down from 60 on Friday, with 23 rising, 15 declining and 19 ending unchanged.
At the close, 22,921,329 shares were traded for $44,514,498 compared with 15,514,547 units at $64,737,290 on Friday.
Trading averaged 402,129 shares at $780,956, versus 258,576 units at $1,078,955 on Friday, compared with April that closed with an average of 264,549 units at $1,409,410.
Transjamaican Highway led trading with 14.96 million shares for 65.3 percent of the total volume, followed by QWI Investments with 4.29 million units for 18.7 percent of the day’s trade and Wigton Windfarm with 1.61 million units for 7 percent of the day’s trade.
The All Jamaican Composite Index dipped 203.12 points to 380,119.46, the JSE Main Index advanced 2,330.49 points to 340,412.28 and the JSE Financial Index popped 0.16 points to end at 77.78.
PE ratios are computed based on the last selling prices of stocks and earnings forecasted by ICInsider.com for companies with their financial year ending between November 2022 and August 2023.
The Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Carreras traded 62,960 shares and gained 25 cents in closing at $8.75, Guardian Holdings advanced $4.98 to close at $490 in an exchange of 16 shares, Kingston Properties shed 30 cents to end at $7.55 with an exchange of 12,830 stock units, Massy Holdings climbed $2 to end at $90 after an exchange of 455 units, NCBF inancial rose 50 cents to $74 11,619 stocks changing hands, investors traded just 221 shares of 138 Student Living in pushing the price by 24 cents to $5.27, Pan Jamaica Group shed $2.50 in ending at $52 and closed with 3,176 stock units changing hands, Radio Jamaica fell 40 cents in closing at $1.85 in switching ownership of 438,522 stocks, Seprod rallied $1.01 to $74.01 in trading 4,628 shares, Stanley Motta dropped 45 in closing at $5.55, with 4,906 stock units crossing the exchange, Sygnus Real Estate Finance popped 90 cents to end at $11.79 as investors exchanged 1,341 units and Wisynco Group lost 68 cents to close at $16.77, with 15,585 units clearing the market.
In the preference segment, Eppley 5% preference share gained $2 to end at $22 with an exchange of 5 shares, Eppley 7.50% preference share increased by $1.59 to end at $7.59, with 1,407 stock units crossing the market and 138 Student Living  preference share climbed $7 and ended at $95 with investors transferring just one stock.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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

Junior Market rallies into May

May 1, 2023 by

Trading dropped to start off the new month but investors pushed prices higher to end the first trading day in May with a solid rise in the market index at the close of the Junior Market of the Jamaica Stock Exchange Monday.  The volume of stocks traded declined 68 percent and the value plunged 70 percent lower than on Friday with trading in 42  securities compared with 44 on Friday and ending with 18 rising, 14 declining and 10 closing unchanged.
Investors traded 5,316,848 shares at $13,649,412 versus 16,843,959 units at $45,142,781 on Friday.
Trading averaged 126,592 shares at $324,986, down from 382,817 shares at 1,025,972 on Friday compared to April with an average of 266,661 units at $2,583,503.
Image Plus Consultants led trading with 1.76 million shares for 33 percent of total volume following the release of impressive full year results on Friday. Spur Tree Spices followed with 753,997 units for 14.2 percent of the day’s trade and MFS Capital Partners with 393,395 units for 7.4 percent market share.
At the close, the Junior Market Index advanced 45.29 points to end at 3,783.21 after rising by more than 40 points on two consecutive days.
The PE Ratio, a measure of computing appropriate stock values, averages 11.7. The PE ratios of Junior Market stocks are computed using the last traded stock price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, Access Financial rallied 93 cents in closing at $25.98, with 56 shares crossing the market, Blue Power rose 32 cents to end at $2.44 as investors exchanged 1,924 units, CAC 2000 climbed 9 cents to $8.09 after trading 345 stock units, Consolidated Bakeries advanced 22 cents to close at $2.39 with a transfer of 41,884 stocks. Dolla Financial popped 7 cents to $2.74 while exchanging 41,403 units, EduFocal lost 12 cents in closing at $1.96, with 3,500 stock units crossing the market, Everything Fresh gained 19 cents and ended at $1.69 with investors transferring 375,654 shares, Express Catering increased by 16 cents to close at $5.35 after exchanging 16,082 stocks.  General Accident declined 40 cents to $5 in an exchange of 95,100 shares, GWest Corporation popped 9 cents to end at $1.04 after an exchange of 20,309 stock units, Honey Bun rallied 9 cents to close at $6.40 in switching ownership of 38,448 units, iCreate increased 10 cents to end at $1.50 after 260,734 stocks passed through the market. Image Plus Consultants popped 10 cents to $2.05 in trading 1,755,637 stocks, Indies Pharma dropped 42 cents to $3.13, with 16,650 shares crossing the exchange, Jetcon Corporation climbed 12 cents to $1.19 after a transfer of 896 stock units, JFP Ltd dipped 10 cents to close at $1.81 in an exchange of 69,748 units. Knutsford Express gained 89 cents to end at $11.39, with 2,482 shares clearing the market, Lasco Distributors rose 36 cents to $2.65 with the swapping of 110,580 stock units, Lasco Manufacturing climbed 11 cents to $4.11, with 79,651 stocks changing hands, Limners and Bards fell 27 cents in closing at $2.26 after investors swapped 34,059 units. Medical Disposables shed 10 cents after ending at $6 with an exchange of 301 shares, MFS Capital Partners fell 10 cents to close at $3.50 with 393,395 stock units changing hands, Paramount Trading popped 17 cents to $2.32, with 1,459 stocks crossing the market. Regency Petroleum shed 12 cents to end at $2.53 in trading 218,338 units and Spur Tree Spices dropped 16 cents in closing at $2.62 after a transfer of 753,997 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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

JSE greets new month with strong gains

May 1, 2023 by

The Jamaica Stock Exchange eked solid gains o start off the new month on a confident footing on Monday, following a positive close to April when all three markets rose, but trading levels fell sharply to start off the month.
The JSE Combined Market Index rose 2,589.09 points to  352,259.36, the All Jamaican Composite Index dipped 203.12 points to 380,119.46, the JSE Main Index jumped 2,330.49 points to 340,412.28, as the Junior Market Index surged 45.29 points to 3,783.21 and the JSE USD Market Index jumped 16.75 points to close at 236.30.
Shares in the preference segment of the Main Market that are not included in the TOP10 graphs ended with Eppley 5% preference share gaining $2 to end at $22, Eppley 7.50% preference share increased $1.59 to $7.59 and 138 Student Living preference share climbed $7 and ended at $95.
At the close, investors exchanged 28,430,771 shares in all three markets, down from 33,097,266 units on Friday, with the value of stocks trading amounting to $58.15 million compared with $109.8 million on Friday. Trading on the JSE USD market resulted in investors exchanging 194,605 shares for US$3,511, down from 742,486 units at US$13,313 on Friday.
The market’s PE ratio ended at 18.9 on 2022-23 earnings and 12.5 times those for 2023-24 at the close of trading.
Investors need pertinent information to successfully navigate numerous investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts along with the closing volume pertaining to the highest bid and the lowest offer for each company.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.

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

Trinidad & Tobacco Stock Exchange rises

May 1, 2023 by

Stocks climbed into May on rising stock outnumbering decliners at the close of the Trinidad and Tobago Stock Exchange on Monday, with the volume of stocks traded declining 46 percent valued 9 percent more than on Friday, resulting in trading in 17 securities, down from 21 on Friday, with five stocks rising two declining and 10 remaining unchanged.
Investors exchanged 96,512 shares for $2,228,161 compared with 179,420 stock units at $2,037,583 on Friday. An average of 5,677 units were traded at $131,068 compared to 8,544 shares at $97,028 on Friday, with trading in April averaging 17,776 shares at $261,442.
The Composite Index gained 7.24 points to finish at 1,326.20, the All T&T Index climbed 5.10 points to 1,980.86, the SME Index remained at 61.51 and the Cross-Listed Index rallied 1.33 points to close at 87.56.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s ended at $64 with investors swapping 75 shares, Calypso Macro Investment Fund remained at $21 after an exchange of 23 stock units,First Citizens Group ended at $50 and closed with an exchange of 7,212 units, FirstCaribbean International Bank remained at $7.24 with a transfer of 270 stocks. GraceKennedy declined 10 cents to $4.10 with investors transferring 16,345 stocks, JMMB Group remained at $1.50, with 3,300 units changing hands, Massy Holdings increased 5 cents to $4.80 with the swapping of 15,760 shares, National Enterprises ended at $3.72 in an exchange of 2,450 stock units. National Flour Mills shed 5 cents in ending at $1.45 with 6,400 units clearing the market, NCB Financial rallied 21 cents in closing at $4.20 after investors traded 1,971 stock units, One Caribbean Media remained at $3.70 after a transfer of 1,193 shares, Prestige Holdings ended at $8, with 56 stocks crossing the market. Republic Financial ended at $135 after 4,639 stock units passed through the market, Scotiabank remained at $77.49 while exchanging 7,021 units, Trinidad & Tobago NGL popped 2 cents in closing at $20.01 after an exchange of 9,797 shares, Unilever Caribbean gained 5 cents and ended at $15.80 in an exchange of 10,000 stocks and West Indian Tobacco advanced 2 cents to close at $16.50 with 10,000 units changed hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

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