The Junior Market lost 2.9 percent in value in 2024, the second consecutive year of decline and one of the few years it underperformed the Main Market but turned out the stock with the greatest gain in the entire Jamaica Stock Exchange for 2024.
Blue Power, a manufacturer of soaps was the best performer for the year by far, with a surge of 111 percent in the price, helped by a 23.5 percent growth in profit for the half year to October, the only stock gaining more than 100 percent for the year.
In a year when only 20 stocks gained and 28 declined, Iron Rock Insurance gained 59 percent with a big jump in profits for 2023 and the nine months in 2024, followed by Regency Petroleum, up by 40 percent, buoyed by continuation of expansion in service stations. Everything Fresh rose 36 percent following improved 2024 profit and Tropical Battery 32 percent, while Honey Bun and Caribbean Assurance gained 31 percent.
The worst performing stocks, mostly suffered from poor profit results and in some cases financial distress. Edufocal fell a whopping 78 percent and is the leading losing stock for the year, as the company struggles to turn around it’s loss making operation, placing severe pressure on its finances. MFS Partners followed with a drop of 76 percent, as it was still unable to be consistently profitable after having a third set of owners at the helm, CAC 2000 lost 56 percent, with results up to the third quarter still heavily in the red, despite reporting a profit in the third quarter, KLE Group fell 42 percent and Medical Disposables 40 percent.
The market continues to message investors, in a year when interest rates remained relatively high, careful stock selection is the best way of successfully investing as companies posting increased profit will usually increase in value, over those that have not.