Flash Back TOP 5

May 14, 2017 by

Berger Paints is one of IC Insider’s TOP 5 best performers from the initial list & exceeded the price target.

IC Insider.com first published its TOP 5 stocks, for the week ending September 9 last year. Looking back, the first set of selection is revealing.
There has been no losers in the list, 6 have more than doubled and two nearly doubled, that is a near 80 percent of strong performances. The Junior Market index is up 43 percent over the period and the All Jamaica Composite is up 29 percent for main market stocks.
First the disappointments, Grace Kennedy has hardly moved from where it entered at $41.45 while Caribbean Cement keeps on dancing up and down as the company’s management fails to properly communicate with investors as to the company’s performance, both past and future, the stock is up from the $26 but just. AMG Packaging while trading higher than the $19.20 it entered the list at, has not done much based on its underperforming profitability. The same cannot be said about Berger Paints, up from $5 to $20 on Friday, helped by strong profit increase. NCB Financial has almost doubled and still has much more room for growth. Barita Investments and JMMB Group have more than doubled in price over the period. Medical Disposables have moved to $6.50 and traded higher up from $3.55, Jetcon is up from $3.50 to $15.74, exceeding by far the $10 price tag projected, Paramount was projected to get to $37 based on the number of shares then issued, the price exceeded that level after the stock split 10 for 1, and sits just below the equivalent of $37, currently. Access Financial has more than doubled and came close recently to the IC Insider.com’s target of $48, having traded at $47.

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

ISP Finance Q1 jumps to profit

May 14, 2017 by

ISP Financial turned a $3 million loss in the first quarter last year into an $8.2 million profit in this year’s March quarter as revenues climbed 25.5 percent to $64.5 million from $51.2 million last year in the latest quarter.
Earnings per share ended at 8 cents in 2017 against 46 cents for the fiscal year ending December last year.
Net revenues generated $59.56 million up from $49 million in 2016, staff cost rose 22 percent to $26.7 million while other operating cost fell from $25.7 million to $19.3 million.
ISP increased lending from $313 million at the end of 2016 to $331 million at the end of March and reduced cash funds from $112 million to $96 million. Loans advanced increased 31 percent since the end of September 2016, an annualized rate of 62 percent. Funds borrowed remained at $210 million, the same as at the end of 2016. Shareholders’ equity moved to at $242 million. The company has current assets of $443 million and current liabilities of just $11 million.
The stock is listed on the Junior Market of the Jamaica Stock Exchange and last traded on Friday at a record $24 up from the Initial public issue price of $2 last year.
The strong growth in loans and the potential for to continue in high double rate with cost being kept relative stable is the big attraction for the stocks.
Based on expected continued strong growth in lending IC Insider.com maintains it projected earnings per share of $1.75 for the current year.

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

Bun sales shift hit Consolidated

May 13, 2017 by

Consolidated Bakeries (Purity) closed down form record high of $4.50 in 2017 to $2.40 on Friday.

Consolidated Bakeries suffered a reversal in fortunes in their first quarter results to March this year, with Easter falling in mid-April compared to the end of March last year, resulting in revenues falling to $228 million from $261 million last year and profit falling from $22.8 million down to $5.8 million in the latest quarter.
Earnings per share end at 3 cents in 2017 and 10 cents in 2016, for the fiscal year ending December last year the company reported just 5 cents per share in earnings. In the December quarter the company doubled Selling and Distribution cost resulting in a rise of $22 million while revenues rose by just $3 million pulling a profit of $30 million at the third quarter down to just $10 million. For the March quarter, cost in this area came in at $33 million closer to the quarterly spend for 2016 but for December quarter with spend of $43 million.
Administrative, Selling and Distribution cost were effectively flat during the quarter, at $76 versus $73 million in the 2016 period. Gross profit margin declined to just over 36 percent compared to 37 percent in 2016, but gross profit fell $14 million to $82.4 million.
In the 2016 June quarter, revenues were just $210 million and generated $4.3 million in profit. With Easter bun sales taking place mostly in April, the company should see revenues popping around $60 million and profits by around $20 million for the current quarter.
Consolidated ended with cash funds of $148 million and borrowings of just $128 million with shareholders’ equity standing at $553 million. The company has current assets of $271 million and current liabilities of $159 million.
The stock is listed on the Junior Market of the Jamaica Stock Exchange and last traded on Friday at $2.40 and is down from a high of $4.50 earlier this year.

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

Big betting losses drop pushes SVL profits

May 13, 2017 by
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Supreme Ventures profit rose sharply for the 2017 March quarter.

A huge fall in losses of Supreme Ventures sports betting, a fall of $82 million in operating expenses plus a 20 percent jump in revenues pushed profit up 51 percent to $416 million for the 2017 first quarter to March.
Profit before taxation grew by a much slower 39 percent, moving from $415 million in 2016 to $549 million in 2017. Earnings per stock unit ended the quarter at 15.8 cents up from 10.44 cents in 2016.
Sports betting lost just $9.5 million, sharply down from $68 million in the 2016 quarter, from $39 million fall in revenue, to $157 million, while Gaming that used to be a big loss maker chipped in with improved segment profit of $21 million, up from $10 million in 2016 with an increased revenue flow of $16 million to end $114 million. The group lost $19 million on its newly acquired subsidiary Caymanas Track, from revenues of $328 million. Caymanas Track Limited acquisition from the Government of Jamaica was effected on March 7. Lottery revenues rose from $8.8 billion to $10.4 billion for the quarter and contributed $556 million to profit up from $452 in the 2016 period.
Group revenues amounted to $13.4 billion, 20 percent higher than $11.2 billion in the corresponding period in 2016. Gross profit climbed 6 percent from $1.15 billion to $1.22 million. Administrative expenses rose 7 percent from $236 million to $252 million, finance cost fell from $40 million to $31 million.
SVL generated cash flows of $600 million in the quarter, up from just $49 million in 2016 as corporation taxes of $409 million paid in 2016 pulled down inflows for that period while tax payment for 2017 was just $121 million.
Shareholders’ Equity stands at $4 billion with borrowings at $380 million and cash and short term investments of $2 billion. Current assets amounted to $3 billion and current liabilities at $1.9 billion.
The Company is listed on the Jamaica Stock Exchange and last traded at $6.38 for a PE of 11 based on estimated earnings of 60 cents for 2017, the stock could pock higher with the average market PE at 13 times this year’s estimated earnings.

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

Profit rises 20% at Kingston Wharves

May 13, 2017 by

Kingston Wharves saw net profit attributable to shareholders growing by $56 million to $333 million in the quarter ending in March for a 20 percent over the comparable period in 2016. Profit before taxation grew 24 percent from $325 million in 2016 to $402 million in 2017. Earnings per stock unit ended the quarter at to 23.25 cents up from 19.34 cents in 2016. The 2017 performance was achieved from a combination of rising revenues and lower cost but higher taxation.
Group revenues amounted to $1.4 billion, 16 percent higher than or $1.2 billion in the corresponding period in 2016. Gross profit climbed 19.4 percent from $557 million to $662 million. Administrative expenses rose 7 percent from $236 million to $252 million, finance cost fell from $40 million to $31 million.
Terminal Operations| Operating revenue of the Terminal Operations Division amounted to $1.1 billion, a 14 percent increase over last year. Divisional profits increased by 21 percent from $274 million to $331 million. “The main driver behind this growth was the container handling operations which advanced by 8 percent over the corresponding period of the prior year,” chairman stated in the chairman’s report to shareholders.
Logistics & Ancillary| Logistics and Ancillary Services segment revenues grew 18 percent to $327 million, over the similar period in 2016. “This was achieved primarily through an expanding customer base as a result of deliberate marketing and business development efforts as well as the deployment of new technology to improve our integrated logistics services and allow for improved security and more efficient systems for the warehousing, delivery and timely receipt of cargo. The Logistics Services division earned operating profits of $98 million, an increase of 33 percent over the prior year,” Hall stated.
“We have invested considerably in our physical and technological infrastructure, embarking on significant terminal rehabilitation as well as the construction of a near-port domestic automotive centre to the benefit of both our terminal operations and our integrated logistics efforts. Our Total Logistics Facility, a purpose-built, state-of-the-art logistics complex will open our doors later this year, creating further opportunity to improve on our product offering and to execute planned vertical integration,” Hall further stated.
Shareholders’ Equity stands at $19 billion with borrowings at $2.2 billion and cash and short term investments of $2.7 billion.
The Company is listed on the Jamaica Stock Exchange and last traded at $30 for a PE of 26 based on estimated earnings of $1.15 for 2017.

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

Junior Market gains on Friday

May 12, 2017 by

Knutsford Express jumped $8.50 to a new record high of $68.

The Junior Market of the Jamaica Stock Exchange declined on Friday with the market index falling 26.72 points to end at 3,259.86 with volume rising above 1 million shares for the second trading day for the week.
At the close of the market, the number of securities trading, ended at 20 compared to 24 on Thursday with 10 advancing and 11 declining. Overall, 1,367,990 units valued at $8,114,770 changed hands, compared to 830,850 units valued at $6,979,202 on Thursday. Trading ended with 4 stocks having bids higher than their last sale prices and 4 with lower offers. Two stocks ended trading at new closing highs and two traded at an intraday high.
The Junior Market ended trading with an average of 62,181 units for an average value of $368,853, compared to 41,543 units for an average value of $348,960, on the previous trading day. The average volume and value for the month to date are 66,313 units and $496,664, while at the close of the prior day, 66,772 units and $511,865. The average volume and value for April ended at 502,597 units and $2,768,003.
At the close of the market, Access Financial Services dropped $6.75 and closed at $40.25 trading 3,531 shares, AMG Packaging fell 35 cents to end at $4.65 with 154,820 units changing hands, Blue Power closed at $39 with 400 units changing hands, CAC 2000 traded 3,200 shares to close with a loss of 30 cents at $7, Cargo Handlers gained 50 cents in trading 3,548 shares at $20.50 Caribbean Cream closed trading with 19,059 changing hands, to close 35 cents higher at $8.50, Caribbean Flavours traded 9,800 shares at $11, after rising 49 cents, Consolidated Bakeries lost 49 cents in trading 367,563 shares to close at $2.40, Derrimon Trading fell 55 cents and ended at $7.70 with 10,000 shares changing hands, General Accident rose 17 cents and closed trading with 544 shares at $3.29, Honey Bun added 15 cents and ended with 900 shares changing hands, at $7.95, Iron Rock Insurance traded 1,000 shares to end at $3.40, after rising 40 cents, ISP Finance fell $1 to end at $24 with 61,418 units changing hands. Jamaican Teas lost 70 cents in trading 294,454 shares, to close at $4.75. Jetcon Corporation rose 24 cents and ended at record $15.74 with 28,217 shares trading, KLE Group lost 10 cents and ended at $2.70 with 50,000 shares changing hands, Knutsford Express jumped $8.50 with 2,175 shares trading to end at a record $68. Lasco Distributors ended with 184,427 units trading with a fall of 3 cents at $7.02, Lasco Financial gained 20 cents and ended with 5,000 shares changing hands at $4.20, Lasco Manufacturing rose 27 cents and closed at $5.40 while trading 64,418 shares, Main Event ended trading 64,002 shares at $7, Medical Disposables ended at $6.50 with 1,500 units trading, Paramount Trading shed just 1 cent to end with 28,224 shares changing hands at $3.09, tTech ended with 11,600 units changing hands at $7 after falling 15 cents.

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

Jamaican stocks at record high – Friday

May 12, 2017 by

Berger Paints hits new high on Friday.

The main market of the Jamaica Stock Exchange closed on Friday at record high with the indices climbing close to 1,000 points and betters the record high reached on Thursday. A total of 22 securities changed hands in the main market with 2 trading in the US dollar market. At the close, 10 stocks advanced and 9 declined.
Trading levels in the main market ended at 4,918,036 units valued at $117,841,841 compared to 3,535,180 units valued at $98,920,695 at the close on Thursday. Trading in the US dollar market accounted for 16,372 units valued at US$4,761.
The All Jamaica Composite Index advanced 846.50 points to close at 261,746.65 the JSE Market Index gained 771.26 points to finish at 238,480.84 and the JSE US dollar market index rose 6.16 points to close at 218.77.
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 9 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 223,547 units valued at $5,356,447 for each security traded, compared to an average of 160,690 units valued at $963,539 on Friday. The average volume for the month to date ended at 199,722 units with an average value of $3,783,824 versus 197,074 units with an average value of $3,609,088 on the prior trading day. The average volume and value for April ended at 382,748 units and $5,254,387.
In market activity, Barita Investments traded 125,511 shares at $7, Berger Paints surged $3 to end at a closing high of $20, with an exchange of 32,864 shares, Cable and Wireless closed at $1.30, losing 10 cents with 267,306 shares changing hands, and Caribbean Cement closed at $30 trading 4,577 units. Grace Kennedy closed at $41.35, with a loss of $1.45 exchanging 1,002,700 units, Jamaica Broilers traded at a new high of $18 but closed at $17.51, after recording a gain of 31 cents with 416,493 shares changing hands, Jamaica Producers closed 99 cents higher to $17.49, with 5,974 shares changing ownership, Jamaica Stock Exchange put on 50 cents to close at $8 trading 15,523 shares. JMMB Group closed at $20, after losing $2 with 68,971 units passing through the market, Kingston Wharves traded 9,337 units at $30, NCB Financial Group closed at $71.25, with a loss of 75 cents after trading 95,793 shares, 1834 Investments lost 1 cent to close at $1.74, with an exchange of 1,141,499 shares, PanJam Investment closed 59 cents lower at $35.01, with 545,610 shares changing hands. Pulse Investments gained $1.80 to close at an all-time high of $13.80, exchanging 47,819 shares, Radio Jamaica closed at $1.75, gaining 5 cents trading 2,100 shares, Sagicor Group closed at $33.70, gaining 30 cents with 337,874 shares trading, Sagicor Real Estate Fund closed at $11 exchanging 60,209 units, Scotia Group lost 50 cents to close at $43, with 377,024 units changing hands, Scotia Investments closed at $37.85, losing 60 cents with trades of 2,257 shares, Supreme Ventures closed at $6.39 exchanging 149,641 shares, Proven Investments traded 16,100 ordinary shares at 29 US cents, Margaritaville Turks gained 0.08 US cents to close at 34 US cents with 272 units traded, JPS 9.5% preference share closed at $1,325, with gains of $78 exchanging 4,954 units and JMMB Group 7.5% preference share closed at $1.07, losing 3 cents with 204,000 units changing hands.

 

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

Trinidad stocks close with firmer tone – Friday

May 12, 2017 by

Prices on the Trinidad & Tobago Stock Exchange closed firmer on Friday than for some time now with the number of stocks having bids higher than the last selling overwhelming those with lower offers.
Trading closed with 13 securities changing hands compared to 12 on Thursday, resulting in 5 stocks advancing, 3 declining and 5 holding firm. Traded volume ended with 296,692 shares exchanged valued at $2,461,941 compared to Thursday’s 159,618 shares valued at $7,100,011.
The Composite Index advanced 0.37 points to 1,222.16, the All T&T Index gained 0.17 points to 1,799.30 and the Cross Listed Index gained 0.08 points to close at 86.50.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 8 stocks with bids higher than last selling prices and 2 with lower offers.
Gains| First Citizens gained 10 cents to close at $32 exchanging 100 shares, Guardian Holdings added 5 cents, closing at $15.65, with trades of 35,423 shares valued at $554,370, JMMB Group closed at $1.27, with a 1 cent gain trading 88,412 shares, Point Lisas gained 1 cent to close at a 52 weeks’ high of $3.88 exchanging 10,000 shares and Sagicor Financial closed at $9.08, gaining 3 cents with 10,000 shares changing hands.
Losses| Guardian Media traded 25 cents lower to close at a 52 weeks’ low of $18.40, exchanging 348 shares, NCB Financial Group lost 1 cent to close at $3.99 with trades of 100,000 shares valued at $399,000 and Trinidad & Tobago NGL closed at $22, losing 30 cents with 2,000 shares changing hands.
Firm Trades| Clico Investment traded 38,093 shares at $22.51 valued at $857,413, National Enterprises closed at $10.53 exchanging 9,000 shares and National Flour Mills closed at $2.48 with trades of 350 shares. Scotia Investments exchanged 925 shares at $2.70 and West Indian Tobacco traded 2,041 shares at $126.49.

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

Buy out interest for Berger Paints?

May 12, 2017 by

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Reports reaching IC Insider.com is that Jamaican based Berger Paints is in play with more than one interested party eyeing the profitable target one source within the financial community stated.
I know as a fact that an offer was made on Thursday but was rejected by Berger as inadequate and would not involve taking over the staff. Another source indicates that the parties are in discussion on terms with the price of $20 that the stock traded at today being within the ball park of where an offer could be at. By next week a clearer picture should emerge our source advises.
One name said to be associated with the one of the offers is Josef Bogdanovich one of the investors involved in the takeover of Hardware and Lumber.
It’s unclear if the planned acquisition by Bogdanovich if successful would be placed under the Hardware and Lumber umbrella which would make economic sense as it would lead to economies of scale in a number of different areas.
The interest comes against the back ground of Berger having recorded the highest level of profit ever at $316 million up from $122 million in 2016, with IC Insider forecasting earnings of $2 per share or $430 million for the year ending March 2018.
Berger closed trading at $6 at the end of 2016 and is up 233 percent for the year to date and is the second best performing main market stock for the year second only to Pulse Investment that is up 360 percent. Berger has been in IC Insider.com TOP 10 since this year and in the TOP 5 Main market from inception on September 9 last year.

Filed Under: Company News, Feature Stories, General Business News, Street News & Views Tagged With: , ,

Honey Bun’s sales up margin down

May 12, 2017 by

Honey Bun Sales up 17% in Q2

High riding Junior Market listing, Honey Bun enjoyed a huge bounce in profit in the year to August 2016, but in 2017 it not only failed to repeat that performance but ended up with reduced profit in its latest half year results.
A fall in gross profit margin and slow growth in revenues were the major contributing factors for the decline. Gross margin, fell to 43 percent of sales down from 46 percent in 2016 for the first quarter and 43.6 percent for the six months from 46.7 percent for the half year in 2016.
Profit before tax for the March quarter fell 12 percent to $45 million and for the six months the company best known for its pastries suffered an 11 percent decline in profits to $91 million from the prior year.
Profit after tax for the quarter chipped in $40 million versus $49 million in 2016 and for year to date March $77 million compared with $95 million for the same period last year. Earnings per share ended at 8 cents for the quarter and 16 cents for the half year.
In the second quarter of financial year 2017 sales increased by $53 million or 17 percent over the corresponding period in 2016, to reached $368 million with the pace of growth coming well ahead of the 7 percent increase for the year to date. Revenues for the half year rose $73 million to end at $680 million.

One Honey Bun’s Products.

form a major part of sales during Easter and the timing of the important Christian season, can result in big sales shift. Importantly, while all Easter sales would have been included in the 2016 half year results, with Easter falling towards the end of March 2016. For 2017, with Easter falling in mid-April, would have resulted in a shift in some revenues coming in the June quarter. The 17 percent sales increase in the second quarter is therefore far more impressive than it appears on the surface.
“Administrative, selling and distribution costs combined increased by 20 percent mainly due to the investment in capacity building programmes to facilitate business growth” Michelle Chong, the company’s CEO stated in her report to shareholders. Honey Bun’s corporate income tax incentive was reduced from 100 percent to 50 percent.
Honey Bun declared an interim dividend of two cents per share payable on June 1, to shareholders on record as at May 17. The stock will start trading ex-dividend, on May 15, 2017. The company last paid a dividend of 2 cents on January 9, in June 2016 a dividend of 3 cents per share was paid.

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