Caribbean Cream delivered better results in the August quarter than in May period with an increase in revenues of 18 percent versus a 1 percent increase in the first quarter.
Profit declined in the latest quarter but by 23 percent, to $35.6 million versus a 40 percent fall in for the six months to $70 million, down from $117.6 million. Cash generated from operations came in at $98 million but Kremi spent $102 million on acquisition of fixed assets.
Gross profit declined by just 4 percent in August quarter versus 14 percent in the May quarter as increase of direct cost outpaced the rise in revenues. In the end revenues came in at $354 million in the August quarter up from $319 million in the May quarter and $300 million in yin 2016 and for the six months $673 million from $615 million in 2016.
Administrative, selling and distribution expenses increased moderately from $71 million to $76 million in the quarter and form $136 million to $147 million for the half year.
At the end of August cash and equivalent amounted to $175 million and borrowed funds $90 million. Shareholders’ equity stands at $662 million.
Earnings per share for the half year is 19 cents and 9 cents for the August quarter. IC Insider.com is forecasting earnings of 50 cents for the full year to February 2018 and 75 cents for 2019. The stock last traded at $6.70 for a PE of 13.4 which is in line with the Junior Market valuation.
Increased cost squeezes Kremi’s profit
Ansa McAl dominates trading
Carib Beer brewed in Trinidad by Ansa McAl Group
Trading continued to be moderate and was dominated by Ansa McAL with 59 percent of the value of securities exchanged, followed by Angostura Holdings with 24 percent.
Market activities ended with 3 stocks advancing, 1 declining and 6 holding firm as 400,836 shares traded at a value of $9,581,269 compared to Tuesday’s trades of 424,600 valued at $2,945,941.
The Composite Index gained 0.19 points to 1,242.25, the All T&T Index slipped 0.28 points to 1,773.00 and the Cross Listed Index inched higher by 0.09 points to close at 95.63.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 1 stock with the bid higher than last selling price and 7 with lower offers.
Gains| The last traded prices of the securities rising and the volume changing hands are First Citizens with a 1 cent gain to $31.76 exchanging 3,001 shares, Massy Holdings closing at $50.50, after rising 1 cent with 1,831 units and Trinidad & Tobago NGL that ended 3 cents higher to close at $23.04, with 31,828 shares valued at $732,264 changing hands.
Losses| Republic Financial Holdings was the sole security to fall in price and ended at 52 weeks’ closing low of $101.80, with a loss of 5 cents with 5,000 shares trading valued at $509,000.Firm Trades| The last traded prices of securities and the volume traded unchanged at the close are Angostura Holdings closing at $15 with 151,500 shares valued at $2,272,500, Ansa McAL traded 89,176 units at $63, valued at $5,618,088, Grace Kennedy exchanging 6,500 shares at $2.90. JMMB Group held firm at $1.40, trading 2,000 units, while National Flour Mills closed at $2 trading 100,000 shares and Point Lisas closed at $4 trading 10,000 unit.
JSE backs off from record
Trading on the Main Market of the Jamaica Stock Exchange finished on Tuesday with the JSE All Jamaican Composite Index pulling back from Monday’s record close to fall by 659.53 points to 298,431.63 while the JSE Index fell 600.91 points to end at 271,904.96.
At the close of trading in the main market, 24 securities changing hands, 6 advanced, 11 declined and 7 traded firm with 5,506,552 units valued at $185,232,323 changing hands, compared to 310,999,356 units valued at $2,974,897,171 on Monday.
In the US dollar market trading accounted for the Equities Index declined 2.47 percent by 4.62 points to close at 182.53 as one security traded with a loss.
Trading ended with an average of 229,440 units for an average of $7,718,013 in contrast to 13,521,711 units for an average of $129,343,355 on Monday. The average volume and value for the month to date amounts to 2,622,376 units valued at $36,983,349 and previously 3,041,577 units with a value of $42,110,123. In contrast, September closed with average of 536,395 units at $1,905,441 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 5 stocks with bids higher than their last selling prices and 2 with lower offers.
Junior Market trading doubles Monday’s
Trading on the Junior Market closed on Tuesday with 22 securities changing hands, resulting in a more than doubling of trading levels over Monday with an exchange of 2,217,305 units valued at $9,814,861 compared to 904,019 units valued at $4,463,382 on Monday.
The Junior Market Index declined by 3.62 points to close at 2,902.38 as market activity resulted in the prices of 5 securities advancing, 6 declining and 9 remaining unchanged.
Trading ended with an average of 100,787 units for an average of $446,130 in contrast to 43,049 units for an average of $212,542 on Monday. 
The average volume and value for the month to date amounts to 78,790 units valued at $343,165, previously 74,618 units valued at an average of $323,637. In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded. Trading ended with the market sentiments looking mixed for Wednesday, as 4 stocks ended with bids higher than their last selling prices and 2 with lower offers.
In market activity, volumes are those traded for the day and the closing prices are those at which the last trade took place. Trading ended with Access Financial plunged $4 to close at $38, with a mere 100 stock units changing hands, AMG Packaging closed 5 cents higher at $3.35, with 50,395 shares, Caribbean Cream rose by 10 cents to $6.10, with 170,000 units, Caribbean Producers ended 4 cents higher at $3.74, with 15,240 shares traded, 
Consolidated Bakeries settled at $2.02, with 26,000 units. Dolphin Cove closed at $17.50, with 7,438 stock units, Eppley concluded trading at $12, with 1,500 shares changing hands, Express Catering traded 10 cents higher at $4.50, with 192,607 shares, General Accident fell 3 cents at to $2.70, with 837,115 stock units traded, Honey Bun traded with a loss of 1 cent at $4.09, with 3,420 stock units. Iron Rock traded at $2.80, with 6,245 units, Jamaican Teas settled at $4.10, with 23,280 stock units, Jetcon Corporation closed with a loss of 50 cents at $4.50, with 13,419 stock units, Knutsford Express concluded trading at $14.89, with 4,188 stock shares. Lasco Distributors traded 619,619 units at $6, Lasco Financial settled at $4.25, with 52,621 shares, Lasco Manufacturing ended 25 cents higher at $3.75, trading 3,100 stock units, Main Event finished with a loss of 3 cents at $5.15, exchanging 61,685 shares, Medical Disposables lost 15 cents at $5.15, trading 1,899 shares and Stationery and Office closed at $4.70, trading 81,373 stock units. In the junior market preference segment, Eppley settled with a loss of 5 cents at $6.50, with 45,961 units changing hands.
Angostura grabs 51% TTSE value traded
Angostura Holdings was the most valued trade on the TTSE on Tuesday.
Trading on the Trinidad & Tobago Stock Exchange closed on Tuesday with 10 securities changing hands compared to 15 on Monday but with an increase level of trading of 424,600 shares carrying a value of $2,945,941 compared to Monday’s 285,854 units valued at $1,798,521.
At the close of market activities, 1 stock advancing, 1 declining and 8 holding firm as Angostura Holdings accounted for 51 percent of the value of securities traded and National Flour Mills accounted for 75 percent of the volume.
Price movements led to moderate changes to the indices, with the Composite Index slipping just 0.10 points to 1,242.06, the All T&T Index inched 0.19 points higher to 1,773.28 and the Cross Listed Index eased 0.05 points to close at 95.54.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 1 stock with bid higher than last selling prices and 8 with lower offers.
Gains| Scotiabank , rose 1 cent in trading 7,253 shares valued at $420,677 to close at $58.01.
Losses| First Caribbean International Bank fell 2 cents in closing at $8.13, exchanging 439 units.
Firm Trades| The last traded prices of securities and the volume traded unchanged at the close of trading are, Angostura Holdings remaining at $15 with 99,715 shares changing hands, valued at $1,495,725, Ansa McAL trading 3,992 shares at $63, First Citizens closing at $31.75 with 1,558 units.Grace Kennedy exchanged 1,000 units at $2.90, National Flour Millsclosed at $2 trading 301,400 shares valued at $602,800, Readymix closed with 4,713 shares at $11, Sagicor Financial ended at $8.14 with trades of 2,500 shares and Trinidad & Tobago NGLholding firm at $23.01 as 2,000 shares were traded.
Sell off of US$ continues – Tuesday
The selloff of US dollars continued in forex market activities on Tuesday. While dealers raised the average buying price by $1.26 to $127.92 for the US dollar, up from $126.72 on Monday, the rate was still lower than the J$128.42 they paid on Friday.
While US currency purchases, accounted for only US$15.82 million on Monday it climbed to US$40.33 million on Tuesday. Dealers sold US$43.46 million at an average rate of J$128.87 versus J$129.06 for US$30.04 million previously.
Inflows of all currencies into Jamaica’s forex market that slipped to only US$20.95 million on Monday rose to US$48.99 million, while dealers sold US$51.71 million versus US$33.91 million, previously.
The selling rate for the Canadian dollar dipped to J$103.25 from J$103.78 at the close on Monday. The British Pound slipped to J$168.13 for buying the British currency versus J$169.55 on Monday and the euro just inched lower in value against the Jamaican dollar, to J$151.18 to buy the European common currency, versus J$151.19 previously.
Dealers back off buying US$ – Monday
The strong signs of the selloff of US dollars are visible in forex market activities on Monday. Dealers dropped their buying price nearly $2 lower than on Friday, to $126.72 for the US dollar down from $128.42 on Friday.
US currency purchases, accounted for only US$15.82 million, up from total inflows US$46.71 million on Friday. Dealers sold US$30.04 million at an average rate of J$129.06 versus J$129.09 for US$47.73 million previously.
Inflows of all currencies into Jamaica’s forex market slipped to only US$20.95 million compared to US$55.46 million on Friday, while dealers sold US$33.91 million versus US$53.50 million, previously.
The selling rate for the Canadian dollar climbed to J$103.78 from J$103.22 at the close on Friday. The British Pound rose to J$169.55 for buying the British currency versus J$168.61 previously and the euro lost value against the Jamaican dollar, with it taking J$151.19 to buy the European common currency, versus J$152.05, previously.
Junior Market drops again
The Junior Market Index after falling 14.30 on Friday, declined further on Monday by 26.18 points to close at 2,906.00 as trading ended with 21 securities changing hands of which 6 advanced, 5 declined and 10 remained with prices unchanged.
Market activity resulted in an exchange of 904,019 units valued at $4,463,382 compared to 1,976,686 units valued at $6,469,834 on Friday.
Trading ended with an average of 43,049 units for an average of $212,542, in contrast to 89,849 units for an average of $294,083 on Friday. The average volume and value for the month to date amounts to 74,618 units valued at $323,637 and 81,597 units valued at $348,195, previously. 
In contrast, September closed with average of 116,176 units valued at $538,652 for each security traded.
Trading ended with the market sentiments looking mixed for Tuesday’s trading activity as 4 stocks ended with bids higher than their last selling prices and 4 with lower offers.
In market activity, volumes are those traded for the day and the closing prices are those at which the last trade took place. At the close, AMG Packaging finished with a loss of 10 cents at $3.30, trading 604 units, Cargo Handlers ended at $9.50, trading 101,214 stock units, Caribbean Producers closed at $3.70, with 55,335 units, C2W Music closed at $0.49, exchanging 4,882 shares, Derrimon Trading gained 1 cent to end at $8, with 6,050 units, Dolphin Cove finished at $17.50, trading 4,162 shares. Eppley ended at $12, with 4,429 units changing hands, 
Express Catering settled at $4.40, with 63,989 units, General Accident concluded trading at $2.73, with 10,857 stock units, Honey Bun lost 20 cents at $4.10, with 3,000 shares, Jamaican Teas ended 5 cents higher at $4.10, with 50,135 shares. Jetcon Corporation concluded trading 1 cent higher at $5, with 70,000 stock units, KLE Group traded with a loss of 22 cents at $2.28, after 14,000 stock units traded, Knutsford Express settled at $14.89, with 1,120 shares, Lasco Distributors ended with a loss of 29 cents at $6, with 78,848 units, Lasco Financial gained 5 cents to end at $4.25, with 97,639 shares, Lasco Manufacturing concluded trading 201,526 units at $3.50. Main Event ended 8 cents higher at $5.18, with 35,041 units, Medical Disposables settled at $5.30, with 15,000 stock units, Paramount Trading rose 1 cent to $2.80, with 29,294 units and Stationery and Office finished with a loss of 8 cents at $4.70, with 56,894 shares traded.
Record 299,091 points for JSE on Monday
Sagicor Group traded at a 52 weeks’ closing high of $39.99 on Monday.
In another record close for the Jamaica Stock Exchange, the All Jamaican Composite Index ended on Monday just shy of the 300,000 mark after climbing 1,334.26 points to an all-time closing high of 299,091.16 and the JSE Index, pushed higher by 1,215.66 points to a record close at 272,505.87.
Trading on the Main Market of the Jamaica Stock Exchange ended with 23 securities changing hands, 9 advanced, 12 declined and 2 traded firm with 310,999,356 units valued at $2,974,897,171 compared to 5,262,809 units valued at $149,711,405 on Friday as Supreme Ventures accounted for 307 million units while Sagicor Group traded at a 52 weeks’ closing high of $39.99.
In the US dollar market, trading accounted for 2,300 units valued at US$1,380 as just one security traded resulting in the price rising and the JSE USD Equities Index advancing 2.29 points to close at 187.15.
Trading ended with an average of 13,521,711 units for an average of $129,343,355 in contrast to 250,610 units for an average of $7,129,115 on Friday. The average volume and value for the month to date amounts to 48911643 3,041,577 units valued at $42,110,123 and previously 927,164 units valued at $15,214,449. In contrast, September closed with average of 283,480 units at $3,630,990 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids higher than their last selling prices and none with lower offers.
JSE closes 1,000 points shy of 300,000
The market made another run at the 300,000 mark on the All Jamaican Composite Index on Monday, but fell just under 1,000 points shy, with the index ending at 299,091.16 points as the investors continued their bullish attack on a limited set of stocks.
The Main Market of the Jamaica Stock Exchange ended with 23 securities changing hands, 9 advanced, 12 declined and 2 traded firm with 310,999,356 units valued at $2,974,897,171 as Supreme Ventures accounted for 307 million units. One stock traded in the US market resulting in the price rising on small volume.
In market activity, volumes are those trades for the day and the closing prices are those at which the last trade took place. In the main activity, Barita Investments concluded trading 24 cents higher at $8, with 10,673 units changing hands, Cable & Wireless rose 2 cents to $1.02, with 126,398 shares, Caribbean Cement ended at $28, with just 144 units, Carreras ended trading with a loss of 2 cents at $13.48, with 252,898 stock units changing hands, Grace Kennedy finished with a loss of 40 cents at $43, in trading 38,318 units. Jamaica Broilers settled with a loss of 50 cents at $18, while exchanging 8,266 stock units, Jamaica Producers concluded trading with a loss of 80 cents at $15.20, with 6,459 shares, Jamaica Stock Exchange finished 10 cents higher at $7.70, with 27,315 units, JMMB Group traded 89 cents higher at $26, with 36,897 stock units, Kingston Properties settled with a loss of 5 cents at $7.15, with 2,000 units, 
Kingston Wharves finished 75 cents higher at $30.75, with 20,539 shares. Mayberry Investments exchanged 9,218 stock units at $4.50, property company, 138 Student Living finished 1 cent higher at $5.41, with 2,700 shares, PanJam Investment shed $1 to end at $43, with 11,244 stock units, Pulse Investments traded with a loss of 2 cents at $1.80, trading 69,750 shares, Radio Jamaica settled with a loss of 9 cents at $1.11, with 87,688 units. Sagicor Group jumped $4.99 to a record $39.99, with 52,394 shares, Sagicor Real Estate Fund closed with a loss of 8 cents at $13, after trading 3,100,000 units, Scotia Group fell 96 cents to $50, with 91,270 stock units, Seprod settled with a loss of $1.50 at $28.50, with 8,160 shares and Supreme Ventures finished with a loss of 60 cents at $9.50, with 306,999,685 stock units changing hands. In the main market preference segment, JMMB Group closed at $1.15, with 600 units and in the US dollar market Productive Business Solution rose 0.25 US cents in trading 2,300 units to close at 60 US cents.
