Jamaica Stock Exchange trading data as of 9.45 on Tuesday February 17, 2015. only three stocks traded so far.
JSE trade data – 9.45 Tuesday
February 16, 2015 by
Profits up 28% at Jamaican Teas
February 16, 2015 by
The Orchid property being developed that should add to Jamaican Teas’ profits in 2015 & 2016.
Sales were helped by 91 percent jump in exports, moving from $55 million to $103 million. The increase in exports, relate mainly to supplies to the US market and is partially due to the appointment of a new Distributor for the North East USA and expect that this will result in further improvement in sales. Revenues for the group, in the prior year, included $21.75 million in Real Estate sales. Excluding these sales, revenues would be up 26 percent for the quarter. Group sales also benefited from the launch of four new products during the period. Sales for Supermarkets are up 9 percent compared to the comparative quarter, in 2013, however, profits are flat. The jointly owned Supermarket in Montego Bay showed a reduction in losses which was helped by certain actions taken to reduce cost in 2014.
Gross profit margin increased to 24.3 percent from 24 percent in 2013, while gross profit increased 16 percent to $62 million but cost rose in other areas, with marketing climbing 24 percent to $7.3 million, administration by only 4 percent to $25.5 million and finance used to generate revenues in the period, is up 14 percent to $6.2 Million.
Property Development| The group has completed construction of more than 50 percent of units in phase 1 of the development in Yallahs, St Thomas. Approximately a half of the units in the first phase have been sold, delivery to the purchasers should start in April. The group should enjoy increased profits from this development which should start reflecting in the June quarter.Borrowed funds stand at $320 million including long term debt of $228 million and equity capital at $660 million.
Barring any unforeseen developments, 2015 could produce the best financial performance far. The stock which is now at $2.55 seems to have much room for growth.
Profit up 137% for RJR in Q3
February 16, 2015 by
TVJ one of RJR’s subsidaries
The major improvement should be great news to shareholders who have seen the price of the stock tumble to a low of $1 per share last year, as profit melted away with sluggish revenues growth. The final quarter based on history, is likely to be a small profit at best, hence investors should not be looking at too much more in profits when the financial year ends. Earnings per share ended at 29 cents for the quarter and 32 cents for the nine months.
Gross profit margin improved in both the quarter and year to date, versus the prior year as sales grew 16 percent to $590 million in the quarter and 10 percent in the nine months, to reach $1.4 billion. Other revenue jumped sharply in the quarter due to foreign exchange gains, management states. Gross profit also increased at a faster pace than sales revenues. Cost increases were kept to 8 percent in the December quarter and 11 percent for the nine months.RJR is in a healthy financial state with cash funds amounting to $130 million, loans of $2036 million, working capital of $565 million and equity capital of $1.3 billion.
The stock last traded at $1.10 on the Jamaica Stock Exchange on Friday.
Is Carreras set for price rise?
February 14, 2015 by
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A price increase cannot be far away for cigarettes sold by Carreras, with margins under pressure flowing mainly from slippage in the value of the Jamaican dollar taking a toll on the margins, since the last price increase in 2013.
With the squeeze in margin, sales also fell in the December quarter by 11 percent, bringing the year to date sales increase to only 5 percent. Cost slipped 1 percent in the December quarter, with a sharp reduction of 57 percent in sales and marketing cost for the quarter and 24 percent for the year to December. Administrative cost jumped 22 percent for the quarter and 16 percent for the nine months. The decline in sales may just be a normalisation in sales. In the past, there was speculation around the end of each year that the company will increase the price of cigarettes which encouraged the trade to stockpile ahead of such price movements and profit from it.
Carreras has entered into an agreement to sell the factory location that it operates from in Spanish Town to Kingston. Cost is expected to decline as a result and should ease some of the pressure on the bottom line. Those savings will be inadequate to cover the fall in gross profit suffered in the December quarter of more than $220 million.
At the end of the year the cigarette marketers, reported profit of $763 million for the quarter and $1.97 billion for the nine months to December earnings per share for the quarter amounted to $1.57 and $4.05 for the nine months and is on target to hey close to $6 per share from continuing operations. During 2013 the company booked a large gain for interest due on debt owed to them by the tax authorities. Investors should expect high dividend payment and periodic spurt in profits after the company adjust prices higher. Price has been on the move since bottoming at $32 last year and is now at $44 but seems headed higher in the months ahead as interest rates continue to fall.
Jamaica’s economy barely delivering jobs
February 14, 2015 by
Image courtesy of koko-tewan/FreeDigitalPhotos.net
The slow growth in the numbers on newly employed is a direct result of the low growth performance in the local economy as current government policy drives down demand for many goods and services in the country as government maintains the target of a balance fiscal operation.
Statin said the unemployment rate for males declined from 10.6 percent to 9.9 percent and for females from 20.0 percent to 19.4 percent.
“The number of persons in the Labour Force was 1,310,700, an increase of 6,200 (0.5 percent) above the 1,304,500 recorded in September 2013” Statin said.The number of persons employed according to the latest data for 2014 is 1,124,500 persons, 14,000 (1.3 percent) more than the 1,110,500 recorded in September 2013, the report indicated. The composition continues to show much more male employment than female, with 645,900 males and 478,600.
According to the report the largest increases in the number of employed persons occurred in the groups ‘Wholesale & Retail, Repair of Motor Vehicle & Equipment’ and ‘Agriculture, Hunting, Forestry & Fishing’. The number of persons employed in the group ‘Wholesale & Retail, Repair of Motor Vehicle & Equipment’ increased by 11,700 (5.5 percent) while the group ‘Agriculture, Hunting, Forestry & Fishing’ increased by 7,800 (3.9 percent).
NCB at yearly high as 14 JSE stocks rose
February 13, 2015 by
NCB hits a new 52 weeks’ high on Friday when it closed at $22.
Main Market| The JSE Market Index gained 698.13 points to 78,931.04, the JSE All Jamaican Composite index rose 780.53 points to close at 86,966.86 and the JSE combined index climbed 769.94 points to 80,887.58.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 10 stocks with bids higher than their last selling prices and only 2 stocks with offers that were lower.
Gains| Stocks gaining, with their last traded prices at the end of trading in the main market are, Cable & Wireless, closing with 12,200 shares, changing hands while gaining 3 cents to 53 cents. Caribbean Cement closing with 3,175 shares, the price inched up 10 cents, to $2.50, Jamaica Money Market Brokers closed with 1,400 ordinary shares trading, while gaining 10 cents to $7.10. Jamaica Stock Exchange ended trading with 24,374 shares while gaining 5 cents, to end at a new 52 weeks high of $2.15, National Commercial Bank finished with 67,130 units trading, $1.50 higher, at a new 52 weeks’ high of $22. Pan Jamaican Investment trading 2,000 units and put on 50 cents to $53.50, Proven Investments closed with 2,500 shares while gaining 0.2 cents 19.2 US cents. Sagicor Group finished with 25,050 shares trading, rising 15 cents to $10.40 followed by Scotia Group that closed with 130,569 units and put on 5 cents to $20.10, Seprod closed with 450 shares to end with an increase of 6 cents to $11.96.
Firm| The stocks in the main market to close without a change in the last traded prices are, Berger Paints ending trading with 7,503 shares changing hands, to close at $1.56. Grace Kennedy closing with 200 shares trading at $60, Jamaica Broilers finishing with 231,182 units trading at $4 and Radio Jamaica finished with 29,690 units traded at $1.10.Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Carreras ending with 463,976 units trading as the price slipped 50 cents to $44, Kingston Wharves closed with 11,700 shares changing hands, 40 cents down to $5.60 and Sagicor Real Estate Fund finished with 50,100 units trading to end 15 cents lower to $6.80.
Preference| Jamaica Money Market Brokers 8.75% preference share ended trading with 10,000 shares to close lower by 7 cents to $3.03 and Jamaica Money Market Brokers 7.50% preference share had 762,000 units changing hands at $2.
Junior Market closed week up
February 13, 2015 by
Activity on the Junior Market closed with 8 securities traded and ending with only 48,272 units changing hands valued at a mere $112,162. The JSE Junior Market Index increased 12.17 points to close at 713.70, with the prices of 4 stocks advancing and none declining.
At the close of the market, there were 5 stocks with bids higher than their last selling prices and only 1 with a lower offer. The junior market ended with 5 securities closing with no bids to buy and there were 8 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Caribbean Producers concluding trading with 1,100 shares to end with an increase of 20 cents to $2.30, Lasco Distributors closing with 10,000 shares, the price gained 2 cents to $1.48, Lasco Financial finishing trading with 17,802 shares, to end with an increase of 9 cents at $1.15. Lasco Manufacturing closing with 2,759 shares trading, 3 cents higher at $1.19, Eppley 9.5% preference share ended with 10,035 units trading, unchanged at $6, General Accident had just 100 shares changing hands at $1.65 and Honey Bun ending with 5,235 shares trading at $1.91 as investors reacted to the December quarter’s results which shows reduced profit in the quarter. Profits fell 17 percent for the quarter to $16.5 million compared to the prior year. Management in their report said the “reduction was mainly due to increased distribution cost resulting from the takeover of a large contract distributor to maintain our customer service and the lease of vehicles due to accidents of two of our main distribution vehicles.” At the close of trading, there were no stocks listed to be bought and 206,849 units being offered to sell at $1.91.
2 up 3 down on TTSE on Friday
February 13, 2015 by
Trading on the Trinidad Stock Exchange on Friday, closed with 11 securities changing hands of which 2 advanced, 5 declined and 4 traded firm with a total of 163,247 units, valued at $1,102,443.
At the close of the market, the Composite Index lost 0.47 points to close at 1,146.97, the All T&T Index fell by just 1 point to close at 1,979.4 and the Cross Listed Index increased by a mere 0.01 points to end at 41.17.
Gains| Stocks increasing in price at the close are, Clico Investment Fund trading 13,434 shares, valued at $302,420 but gained 1 cent to $22.51 and Sagicor Financial Corporation with of 59,800 shares being traded for $299,598 and gained 1 cent to $5.01.
Declines| The stocks declining at the end of trading are, Guardian Holdings with 1,773 shares changing hands and lost 5 cents to end at $13.15, Point Lisas Industrial Port Development declined by 25 cents to close at $3.50 while 1,050 units were traded. Republic Bank had only 302 shares trading while the price slipped 10 cents to $118.59, Trinidad Cement with 74,482 shares changing hands for a value of $194,310 ended at $2.59, down 19 cents followed by L.J. Williams A share contributed 7,860 shares and lost 1 cent to end at 25 cents.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, First Citizens Bank traded 300 shares and closed at $35.75, Massy Holdings added 2,010 shares valued at $128,138 to close at $63.75, Scotiabank traded 1,636 units to close at $62.10 and Scotia Investments trade 600 shares to end at $1.45.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than their last selling prices and 4 stocks with offers that were lower.
The TTSE market will be closed on Monday and Tuesday due to carnival celebrations.
J$ gains against US$ on Friday
February 13, 2015 by
There was more selling of foreign currencies than buying on Friday with purchases of all currencies by dealers, amounting to US$44,754,611 compared with the US$37,493,058, on Thursday and selling the equivalent of US$46,877,694 versus US$31,450,866 sold on Thursday.
In US dollar trading, dealers bought US$41,196,909 compared to US$33,053,912 on Thursday. The buying rate for the US dollar rose 3 cents to $115.30 and US$44,678,972 was sold versus US$28,391,214 on Thursday, the selling rate fell 1 cent to $115.71. The Canadian dollar buying rate recovered 22 cents to $91.58 with dealers buying C$2,075,757, and selling C$1,484,449, at an average rate that rose 20 cents, to $92.48. The rate for buying the British Pound dipped 21 cents to $175.28 for the purchase of £1,166,987, while £461,462 was sold, at an average rate of $177.28, up by 20 cents. At the end of trading it took J$131.61 to purchase the Euro, 75 cents higher than on Thursday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$129.13 for 66 cents up from Thursday. Other currencies bought, amounted to the equivalent of US$134,816 while the equivalent of US$305,423, was sold.
Highs & Lows| The highest buying rate for the US dollar, climbed 10 cents to $116, the lowest buying rate fell $3.66 to $90.70 and the highest selling rate was unchanged at $120.91. The lowest selling rate recovered $17.59 to $113.80. The highest buying rate for the Canadian dollar dived only 25 cents to $92.85, the lowest buying rate climbed 50 cents to $72.83. The highest selling rate dipped 21 cents to $94.79 and the lowest selling rate jumped $1.65 to $88.80. The highest buying rate for the British Pound, rose 30 cents to $177.80. The lowest buying rate climbed 66 cents to $142.22, the highest selling rate fell 71 cents to $181.78 and the lowest selling rate increased $3.65 to $174.20.
J$ gains against US$ on Thursday
February 12, 2015 by
There was much more buying of foreign currencies than selling on Thursday with purchases of all currencies by dealers, amounting to US$37,493,058 compared with the US$36,565,083, on Wednesday and selling the equivalent of US$31,450,866 versus US$48,322,723 sold on Wednesday.
In US dollar trading, dealers bought US$33,053,912 compared to US$33,977,211 on Wednesday. The buying rate for the US dollar fell 10 cents to $115.27 and US$28,391,214 was sold versus US$45,963,520 on Wednesday, the selling rate fell 4 cents to $115.72. The Canadian dollar buying rate recovered $1.68 to $91.36 with dealers buying C$2,001,8708, and selling C$1,360,165, at an average rate that fell 76 cents, to $92.28. The rate for buying the British Pound rose $1.78 to $175.49 for the purchase of £1,369,125, while £908,270 was sold, at an average rate of $177.08, up by $1.10. At the end of trading it took J$130.86 to purchase the Euro, 23 cents lower than on Wednesday, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.47 for 31 cents down from Wednesday. Other currencies bought, amounted to the equivalent of US$768,256 while the equivalent of US$585,240, was sold.
Highs & Lows| The highest buying rate for the US dollar, climbed 15 cents to $115.90, the lowest buying rate recovered 67 cents to $94.36 and the highest selling rate rose 54 cents to $120.91. The lowest selling rate dropped $13.89 to $96.21. The highest buying rate for the Canadian dollar dived $4.90 to $93.10, the lowest buying rate declined $3.91 to $72.33. The highest selling rate dipped $6.10 to $95 and the lowest selling rate fell $4.70 to $87.15. The highest buying rate for the British Pound, rose $2.10 to $177.50. The lowest buying rate climbed $1.79 to $141.56, the highest selling rate gained $2.30 to $182.49 and the lowest selling rate increased $2.15 to $170.55.
