IC Insider.com — Page 996

5 rising stocks steady juniors – Monday

August 8, 2016 by IC Insider.com

The junior market rose moderately on Monday with 12 active securities. 5 stocks rose and 1 declined including a jump of $2.30 in the price of Knutsford Express. The market index rose 2.66 points to close at 2,193.86, with only 257,522 units trading, valued at $1,655,683.
JM sum 8-8-16 At the end of trading 4 stocks closed with bids higher than their last selling prices and none ended with a lower offer.
At the close, Caribbean Cream gained 3 cents with 1,000 shares changing hands at $7.03, Consolidated Bakeries did not trade, but the bid for the stock climbed to $2.44, there were just two offers posted at the close, to sell 15,000 units. The stock last traded to close at $2.13, Dolphin Cove traded 300 shares to close at $14. General Accident traded 42,019 shares and gained 1 cent to end at $2.16, Honey Bun had 26,357 shares changing hands, to close at $5.60, ISP Finance traded 4,000 shares at $5.15, JM Trdng Sht 8-8-16 Jetcon Corporation ended with 3,700 shares changing hands at $2.70, KLE Group ended at $1.30 with 918 shares changing hands. Knutsford Express closed with 23,977 units changing hands at $19, after climbing $2.30, Lasco Distributors lost 20 cents and ended with 77,580 shares changing hands at $6.80, Lasco Financial ended with 2,860 shares changing hands at $3.49, for a gain of 24 cents. Lasco Manufacturing closed at $5 with 74,311 shares trading and Derrimon Trading preference share ended with 500 units changing hands at $2.10.

NIR shoots up in July

August 8, 2016 by IC Insider.com

Net International Reserves of Jamaica shot up by US$124 million in July, to end at US$2.39 billion. The build-up has taken place over the period when bankers purchased US$100 million more than they sold, with the amount climbing to US$116 million up to the first week in August and US$124 million including Monday’s intake.
The reserves are just slightly below the amount of US$2.42 billion it was at the end of March at the 2016 peak, just before the central bank had to intervene by selling to the market with the reserves declining to a low of US$2.265 billion in June, just above the US$2.2 billion at the end of January.
With August being another month when inflows of foreign currency is high, the prospects are good for further build-up of funds in the system, before the end of the month and could place the country’s central bank in full control of the foreign exchange market in the months ahead before the next period of higher inflows starts in mid-December.

Filed Under: Economy, FX Market, Stock Market Tagged With: Bank Of Jamaica, Jamaica's NIR, NIR

TTSE had 5 losses & 3 gains – Monday

August 8, 2016 by IC Insider.com

TTSE build Trading on the Trinidad and Tobago stock market closed on Monday with more stocks declining than rising. The market closed with just 11 securities changing hands resulting in 181,596 shares valued at $6,164,194 being traded. At the close, 3 stocks rose, 5 declined and 4 remained unchanged.
The Composite Index gained 0.24 points to close at 1,153.87, the All T&T Index climbed 3.86 points to close at 1,811.62 and the Cross Listed Index eased 0.47 at 66.06.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 9 stocks with bids higher than their last selling prices and 8 with offers that were lower.
Gains| Guardian Holdings gained 50 cents to close at $13.50 with 8,538 shares traded and Scotiabank closed with 159 shares changing hands and gained 25 cents to end at $55.50. Losses| Ansa Merchant Bank traded 800 units to end at $40, after losing 1 cent, Firstcaribbean International Bank declined by 10 cents in trading 2,526 shares, to end at $6.90. TTSE sum 8-08-16 National Commercial Bank contributed 15,000 shares and fell 1 cent to close at $2.83 and National Flour with 12,000 shares changing hands, lost 1 cent to end at $2.30.
Firm Trades| Ansa McAl traded 70,000 units valued at $4,340,000 to close at $62, Clico Investments closed at $22.55 with 17,282 units trading. Massy Holdings ended with 200 units changing hands at $55, Prestige Holdings ended with 10,000 shares changing hands to close at $10.90 and Trinidad and Tobago NGL closed with 45,091 shares with a value of $1,070,899 changing hands at $23.75.

Filed Under: Stock Market, TTSE Market Tagged With: Ansa Merchant Bank, Clico Investments Fund, Daily Trading, Firstcaribbean International Bank, Guardian Holdings, Massy Holdings, National Commercial Bank, National Flour Mills, Sagicor Financial Corporation, Scotiabank, Trading Activity, Trinidad and Tobago NGL, TTSE

SVL trades 12m shares on JSE – Monday

August 8, 2016 by IC Insider.com

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Trading on the Jamaica Stock Exchange on Monday morning resulted in an unusually high level of 34 securities trading. Supreme Ventures (SVL) traded 12,014,100 shares unchanged at $4.70 to be by far the dominant trade. The closest to that is Cable & Wireless with 134,255 units at $1.26.
The bulk of the SVL trade was done between Mayberry Investments, who sold from in house inventory and Scotia JSE Intra - 8-08-16 Investments, the buying broker, who bought for a combination of clients and inhouse purposes.
The market indices all rose moderately, in the main and junior markets, with 9 stocks gaining versus 9 that fell.
The all Jamaica Composite Index rose 147.69 points to 177,882.62, the Jamaica Stock Exchange Market Index climbed 132.06 points to 160,100.46 the Jamaica Stock Exchange combined index gained 144.22 points to close at 171,008.57 points and the junior market index gained 2.11 points to 2,193.31.
Trading levels at 10:45 am was low, resulting in a volume of 12,389,773 shares changing hands, excluding the SVL trade the total volume would have been only 375,673 units and the average trade would be 11,384 units. The average number of shares traded amounts to 364,405 units compared to 6,256 units on Friday.

Filed Under: JSE Combined, Stock Market Tagged With: Cable & Wireless, Daily Trading, Jamaica Stock Exchange, Jamaican stocks, junior market, Mayberry Investments, Scotia, Supreme Ventures, Trading Activity

Access post good Q1 results

August 7, 2016 by IC Insider.com

Access Financial Services’ profit jumps 29% in Q1.

Investors have not reacted positively to the 29 percent gain in Access Financial Services profit for the June 2016 quarter over the results of the 2015 quarter, but they probably should, with earnings set to exceed $2 for the full fiscal year with the stock price below $20.
The company reported a moderate 10 percent growth in loan interest revenues to $301 million in the quarter over that of 2015. The loan portfolio for the June is 8.6 percent ahead of March, if the rate of growth continues, loans would end at $2.84 billion versus $2.1 billion as of March.
Total revenues moved by 10 percent from $315 million to $347 million for the June quarters while profit after tax for the quarter grew 29 percent to $146 million or 53 cents per share, compared to $112 million or 41 cents for the June 2015 quarter.
Cost was well contained at $184 million for the quarter, down from $186 million in 2015. Loan loss provisions fell from $54 million in 2015 quarter, to $43 million in 2016. IC Insider projects the provision to rise to $187 million for the full year, up from $184 million for the 12 months to March 2016, while earnings of $800 million or $2.90 per share are projected for the 12 months to March 2016, with growth to $4 per share or $1.1 billion in profits after tax, for 2017.
At the end of March, shareholders’ equity stood at $1.3 billion and borrowings at $1.1 billion with cash and equivalent at $299 million out of total assets of $2.7 billion.
The stock which remains BUY RATED last traded at $17.50 giving it a PE based on the above forecast at an attractive 6.

Filed Under: Buy Rated, Company News, Company Results Tagged With: Jamaica Stock Exchange, Jamaican Stock, junior market

Simply Impressive

August 7, 2016 by IC Insider.com

Honey Bun shot up by more than 500% in 2016 shortly after stock split.

Junior market listed bakers, Honey Bun, is enjoying a glorious period of surging revenues and profit that fueled a huge jump in the stock price of 355 percent for 2016, after rising over 500 percent, earlier in the year.
In continuation of a successful year, revenues climbed 36 percent in the third quarter of financial year to June, spawning a 124 percent increase in profit before taxes to $38 million over the June 2015 quarter. Revenues climbed 35 percent to $903 million for the nine months to June, up from $672 million in 2015 while profit jumped 109 percent to $138 million before tax and $132 million after tax of $6 million.
Gross profit for the nine months climbed at a faster pace than revenues, at 40 percent while for the quarter, gross profit rose 34 percent, just below the growth in revenues for the quarter. Expenses excluding cost of sales, rose even slower than revenues, at 20 percent, with administrative expenses rising sharply by 33 percent to $147 million and selling and distribution costs increasing by 10 percent to $104 million, while depreciation rose by 4 percent to $28 million. For the June quarter administrative, selling and distribution expenses rose at a slower pace than for the nine months, at 12 percent.

One Honey Bun’s Products.

The company generated gross cash flows of $171 million for the nine months, before expending $75 million on the acquisition of property, equipment and fleet. Honey Bun is in a healthy state with cash balance and investments at $104 million after the company repaid $38 million in long term loans, leaving loans at $16 million. Current assets stood at $212 million and current liabilities ta $71 million. Shareholders equity climbed to $491 million.
The Company that listed on the Jamaica Stock Exchange Junior Market in June 2011, is now subject to taxation on profit for the next 5 years at 50 percent of the normal corporate income tax rate of 25 percent.
Earnings per share for the quarter came in at 8 cents and 28 cents for the nine months. IC Insider projects 34 cents or $160 million for the full year to September, with $147 million or 52 cents per share projected for 2017. The stock traded at $5.60 on the Jamaica Stock Exchange junior market for a PE of 16.5 times 2016 earnings, making it one of the highest valued stock on the market.
The stock was accorded a BUY RATED ranking in November 2015 but has since been placed on a watch list when it shot to over $7 per share.

Filed Under: Buy Rated, Company News, Company Results Tagged With: Honey Bun, Jamaica Stock Exchange, Jamaican Stock, junior market, PE ratio

Sales up sharply at Medical Disposables

August 6, 2016 by IC Insider.com

Medical Disposables profit slipped in June quarter.

Sales revenue at Medical Disposables jumped sharply, in the June quarter of 2016, but profit fell as finance cost surged much faster than sales. Sales revenues ended at $425 million, an increase of $134 million or 46 percent over the similar quarter of 2015.
The strong growth in revenues is a positive development and could be a signal for increased future profit, if sales growth continues at a reasonable pace.
Gross profit margin declined, leading to lower gains of 18 percent, in gross profit, to $99 million up from $84 million in 2015. The increase in gross profit was inadequate to meet increasing expenses and thus resulted in lower profit for the June quarter, with profit at $18 million versus $19 million in 2015 while earnings per share ended at 6.8 cents versus 7.3 cents in 2015. Looking forward earnings for the full year is forecast at 65 cents per share and $1.10 for the 2017/18 fiscal year as increase sales delivers more gross profit to overwhelm increased cost. The stock last traded on the junior market of the Jamaica Stock Exchange at $3.15 for a PE ratio of 5.40 based on 2017 earnings and 3.2 based on the 2017/18 earnings.
“The Board of Directors has approved a strategic plan which forecast growth in market share, increase product offerings and widening of the customer base in all categories of its business operations.

Kurk Boothe – Medical Disposables Managing Director.

The performance in the first quarter which is the highest sales revenue in the company’s history, reflects progress in meeting these strategic targets. This improvement in dollar value of gross profit was driven by increased sales of a broader range of products, “Kurt Boothe General Manager stated in a release accompanying the financials.
Profit after Operational Expenses rose by 28 percent to $30.4 million from $24 million in the previous year’s June quarter but finance cost associated with the acquisition of the company’s operating complex, increased from $4.5 million to $12.5 million.
At the end of June, shareholders’ equity stood at $495 million, borrowings amounted to $412 million, current assets stood at $673 million and current liabilities at $352 million.

Filed Under: JSE Junior Market, Stock Market

Juniors hit with falling prices – Friday

August 5, 2016 by IC Insider.com

The junior market lost moderately on Friday with 13 active securities of which 3 stocks rose and 6 declined including a drop of $2.82 in the price of Knutsford Express. The market index slipped 5.64 points to close at 2,191.20, with only 260,545 units trading, valued at $1,819,326.
JM sum 5-8-16 A total of 3 stocks closed with bids higher than their last selling prices and none ended with a lower offer.
At the close, AMG Packaging traded 2,099 shares at $12.50, Caribbean Cream gained 10 cents with 7,970 shares changing hands at $7, Caribbean Flavours traded 154,637 units to end at $6.50 with a loss of 3 cents, Caribbean Producers traded 8,323 units and rose 25 cents to close at $3.50. Consolidated Bakeries lost 12 cents in trading 12,000 shares to close at $2.13, Honey Bun had 25,450 shares changing hands, to close with a gain of 5 cents, at $5.60 after the company reported sales increasing by 36 percent and profit before taxes jumping 124 percent to $38 million for the June quarter. JM Trdng Sht 5-8-16 Iron rock Insurance fell 32 cents while trading 3,000 shares to close at $3.28, KLE Group ended at $1.30 with 4,232 shares changing hands, after losing 5 cents, Knutsford Express closed with 21,500 units changing hands at $16.70, after dropping $2.82. Lasco Distributors ended with 15,784 shares changing hands at $7, Lasco Financial ended with 2,850 shares changing hands at $3.25, for a fall of 10 cents, Lasco Manufacturing closed at $5 with 2,500 shares trading and Eppley 10% preference share, traded 200 units at $6.10.

Filed Under: JSE Junior Market, Stock Market Tagged With: AMG Packaging, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, Eppley, Honey Bun, Iron Rock Insurance, Jamaican stocks, junior market, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Trading Activity

US$ build grows to US$116m on Friday

August 5, 2016 by IC Insider.com

The rate for the Jamaica dollar slipped against the United States dollar on Friday even as inflows of the US dollar was nearly US$11 million more than the amount sold. The local currency also declined versus the pound while the selling rate of the Canadian dollar fell versus the Jamaica dollar. At the close on Friday, net inflows into foreign exchange market, rose by US$12 million, pushing the surplus since the end of June to US$116 million.
In Friday’s trading, dealers bought US$37,754,708 while they sold US$25,565,625 compared to US$34,661,238 purchased and US$30,381,784 sold on Thursday, of all currencies.
In US dollar trading, dealers bought US$33,387,006 compared to US$31,789,630 on Thursday. The buying rate for the US dollar increased 14 cents to $125.93. A total of US$22,715,862 was sold versus US$29,558,903 on Thursday, with the selling rate rising 6 cents to end at $126.64. The Canadian dollar buying rate rose 9 cents to end at $93.31, with dealers buying C$1,279,996 and selling C$457,411, at an average rate that dropped 54 cents to $95.74. The average rate for buying the British Pound rose 29 cents to $163.97 for the purchase of £2,495,745, while £1,792,639 was sold to end at $165.58, for a gain of 34 cents.
At the end of trading, the selling rate for the Euro, rose by 39 cents to close at J$140.25 from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$134.37 for a fall of $1.62. The US dollar equivalent of other currencies traded amounts to US$134,963 being bought, while US$82,661 was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Friday, include, a drop of $18.74 in the lowest selling rate of US dollar to $103.21, a decline of $1.40 in the highest buying rate of the Canadian Dollar to close at $96.60, a gain of $2.50 in the lowest selling rate to $92.50, while trading in the British Pound resulted in a dip of $5 in the highest buying rate to $167.30, a fall of $1.41 in the lowest buying rate to $134.05, a fall of $1.84 in the highest selling rate to end at $174.42 and the lowest selling rate rose $2.30 to end at $160.30.

Filed Under: FX Market, Stock Market Tagged With: Bank Of Jamaica, BOJ, British Pound, Canadian dollar, Daily trading activity, euro, euro v J$, FX trading, jamaican dollar, US Dollar

TTSE ends trading with 4 gains – Friday

August 5, 2016 by IC Insider.com

TTSE build Trading on the Trinidad and Tobago stock market closed on Friday with losses in the market indices as Massy Holding fell sharply. The market closed with just 10 securities changing hands resulting in 369,672 shares valued at $4,717,859 being traded. At the close of trading 4 stocks rose, 3 declined and 3 remained unchanged.
The Composite Index declined 2.06 points to close at 1,153.63, the All T&T Index shed 3.78 points to close at 1,807.76 and the Cross Listed Index eased 0.04 at 66.53.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with 7 stocks with bids higher than their last selling prices and 9 with offers that were lower.
Gains| Ansa Merchant Bank gained 1 cents in trading 400 units to end at a 52 week’s high of $40.01, Guardian Holdings gained 30 cents to close at $13 with 220,144 shares or a value of $2,821,643 traded. National Flour ended with 100 shares changing and rose 1 cent, to close at $2.31 and Trinidad cement traded 3,307 units and rose by a cent to close at $3.01.
TTSE sum 5-08-16 Losses| Massy Holding dropped $1.73 while trading 27,750 units to close at $55, National Enterprises closed with 3,636 shares changing hands with a loss of 10 cents to end at $10.50 and Scotia Investments contributed 77,569 shares and fell 5 cents to close at $1.70.
Firm Trades| Clico Investments closed at $22.55 with 2,506 units, JMMB Group ended with 30,260 shares changing hands to close at 64 cents and Trinidad and Tobago NGL closed with 4,000 shares changing hands unchanged at $23.75.