Caribbean Creams profit upgraded to show a 62 percent increase to $56.8 million or 15 cents per share above the 2014 earnings, according the audited financial statements compiled by KPMG, the company’s new auditors.
The comparative 2014 results were $35 million after a small tax expense. The interim report had profit for the year at $49 million on slightly higher sales than the audit report showed. The major area of change was lower administrative cost of $12 million in the audited accounts versus the preliminary figures. Caribbean Cream enjoyed an increase of 305 percent in profit in the final quarter to reach $25.7 million up from $6.4 million in 2014 quarter, according to the data in the audited accounts and third quarter interim results.
IC Insider is forecasting profit of 244 million for the 2016 fiscal year or 65 cents per share from increased sales revenues that will flow mainly from a 15 percent price increase effected just before the Christmas season.
The stock which was listed on the junior market of the Jamaica Stock Exchange in 2013 at an IPO price of $1, traded at $1.10 on Thursday and has moved up from 65 cents just before the release of the interim results.
Caribbean Cream profit upgrade
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[…] two of the largest inputs into the production of ice cream, Christopher Clarke Chief Executive of Caribbean Cream makers of Kremi ice cream informed IC Insider. The world market price for powdered milk has declined […]
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[…] with bids higher than the last traded prices and 2 closed with lower offers. Stocks trading are, Caribbean Cream traded 17,000 shares to close with a 5 cents rise to $1.65, Caribbean Producers lost 2 cents with […]
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[…] with bids higher than the last traded prices and none closed with lower offers. Stocks trading are, Caribbean Cream ended with 240,000 shares changing hands at $1.75 to gain 5 cents, Consolidated Bakeries traded […]
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[…] notable trades are Cable & Wireless with 876,220 shares at 49 cents, for a gain of 2 cents, Caribbean Cream had 245,000 units trading at $1.71, down69 cents, Carreras traded 274344 at $50, Sagicor Group saw […]
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[…] stocks declined and 4 advanced with the junior market index falling 7.54 points to close at 952.14. Caribbean Cream jumped to $2.40 with trading in the stock being halted for an hour as the price exceeded 15 percent […]
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[…] are, Access Financial Services finished with 1,000 shares to close at $13, with a gain of $2, Caribbean Cream ended with 2,600 shares changing hands at $1.70 for an increase of 10 cents, General Accident […]
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[…] changing hands, Blue Power closed with 7,777 units changing hands with a gain of 5 cents at $12.35, Caribbean Cream traded 96,271 units to close 19 cents lower at $1.80. Caribbean Producers traded just 2,305 units at […]
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[…] 983.71, down 23.87 points. Access Financial traded at $13 for a fall of $2.51 on small volume, Caribbean Cream traded back at $2 with 200,000 shares, General Accident Insurance traded at a 52 weeks with low […]
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[…] bids higher than the last traded prices and only 1 with the offer being lower. Stocks trading are, Caribbean Cream traded 27,315 units, to close at $1.82 as the price slipped 18 cents. Caribbean Flavours traded […]
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[…] $18.12 with 2,700 units changing hands, Cargo Handlers ended with 250 shares changing hands at $31, Caribbean Cream traded 345,244 units, gained 20 cents to close at $2. Derrimon Trading ended with 60,500 shares […]
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[…] trading are, Blue Power closed with a loss of 72 cents at $12.28 with 1,758 units changing hands, Caribbean Cream traded 101,408 units but lost 15 cents to close at $1.80. Lasco Distributors traded 56,045 shares to […]
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[…] sale. Stocks trading are, Blue Power with only 100 units and declined 3 cents and ended at $12.96, Caribbean Cream had 25,390 shares trading but lost 3 cents to close at $2.10, Knutsford Express ended with only 100 […]
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[…] market are, Cargo Handlers ending with 590 units changing hands to close at unchanged at $30, Caribbean Cream traded 2,950 units on offer at $1.60 but the offer at the close is at $1.55 for 75,800 units, […]
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[…] to close with a loss of $1.50 at $12 Cargo Handlers finished with 10,000 units to close at $26,Caribbean Cream with 3,357 shares traded higher by 1 cent to $1.60,, Caribbean Producers traded 6,000 shares and […]
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[…] Handlers finished with 36,551 units to close with a gain of $1, to a new all-time high of $26, Caribbean Cream with 9,800 shares traded lower by 1 cent to $1.59, Dolphin Cove trading 97,462 shares to close […]
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[…] traded at a new high of $24 with 1,415 units to gain 49 cents on Friday’s last sale price. Caribbean Cream traded at a new all-time high of $2 but slipped back to $1.85 having traded 36,865 shares and […]
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[…] air, a total of 11 stocks have declined and 7 are up. There are three new 52 weeks’ highs with Caribbean Cream traded at an all-time high of $1.85, Sagicor Group and Jamaica Broilers traded at a new 52 weeks’ […]
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[…] 7 securities that had no stocks being offered for sale. Stocks trading in the junior market are, Caribbean Cream traded at a 52 weeks’ high with 100,000 units, 10 cents higher, at $1.75 for a new all-time high. […]
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[…] The Jamaica Stock Exchange stock traded at a new all-time high of $6.50 and now has a bid at $6.55, Caribbean Cream traded at a new all-time high of $1.75 and Sagicor Group traded at $12.35 for a new 52 weeks’ high […]
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[…] 9 securities that had no stocks being offered for sale. Stocks trading in the junior market are, Caribbean Cream traded at a 52 weeks’ high with 10,000 units, 10 cents higher, at $1.65. Caribbean Producers with […]
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[…] for the stock with a bid of $6, Lasco Financial hit $2 for the first time, but with a small volume. Caribbean Cream traded at a new high of $1.65 with 10,000 units changing hands and Honey Bun is trading at a new 52 […]
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[…] at a new all-time high of $22.48, the stock closed with a bid at $23 to purchase 100,000 units, Caribbean Cream ended with 237,955 units trading at a new 52 weeks’ high of $2.35. Caribbean Flavours ending with […]
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[…] Index gained 17.19 points to close at 888.47, with the price of 9 stocks advancing, 2 declining and Caribbean Cream, Cargo Handlers and Derrimon Trading preference stock closing at new a 52 weeks’ high, Lasco […]
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[…] volumes available, this one becomes a longer term buy with the price where is currently lies. Caribbean Cream and Paramount seems to have quite some gains to deliver in the months ahead as improving results […]
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[…] Caribbean Cream was the dominant trade on Thursday on the Junior Market with 5.3 million units as investors responded positively to the company’s audited results showing a 62 percent increase in profit versus 40 percent shown in the preliminary interim report that was released previously. Also trading in large volume was Caribbean Producers with 2.7 million shares. Trading ended with 9 securities being active and cumulating in 8,660,524 units changing hands valued at $14,662,200. The JSE Junior Market Index gained 1.53 points to close at 871.93, with the price of 5 stocks advancing and only 1 declining and 1 closing at 52 weeks’ high. At the close of the market, there were 8 stocks with bids higher than their last selling prices and none with a lower offer. The junior market ended with 3 securities closing with no bids to buy and 10 securities that had no stocks being offered for sale. In trading, Caribbean Cream closed with 5,300,365 units trading, the price rose by 5 cents to $1.15. Blue Power closed with 19,573 shares trading unchanged at $9.50, Cargo Handlers finished with 1,000 units to close at $22.28, Caribbean Producers with 2,723,803 shares trading, ended lower by 10 cents to $2.80, Dolphin Cove finished trading with 4,333 shares at $10.25 with a gain of 25 cents. Jamaican Teas had activity in 15,000 shares and closed unchanged at $3.50, KLE Group traded 135,446 shares for 9 cents higher, at 84 cents, Lasco Financial Services traded 250,000 units at a new closing all-time high of $1.66, after adding 9 cents and Lasco Manufacturing ended trading with 211,004 units, the price rose 4 cents to close at $1.29. […]
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[…] Caribbean Cream is leading trading with 1.3 million units trading out of a total of 2.46 million units of that have traded with an hour and a half of trading. Investors were responding to the company’s audited accounts showing a 62 percent increase in profit versus 40 percent shown in the preliminary interim report earlier. The Jamaica Stock Exchange had 22 securities trading at 11 on Thursday accounting for 2.5 million units. The All Jamaican Composite Index is up 465.03 points 109,293.92, the JSE index is at 98,731.22 gained 416.04 points and the junior market index rose 2.16 to 872.56 so far 7 stocks recorded gains versus 3 that are down including Palace which fell 20 to $60 with small volume. There were 6 securities traded in the junior market and 16 in the main and US dollar market In trading, Carreras traded 48,324 with the price rising to $50 from $49 on Thursday after the company announced a $2 dividend, there is currently a bid to buy at $50.11. Barita Investments traded 134,024 shares at $2.50, Jamaica Money Market Brokers 7.50% preference share traded 429,000 units at $2.30, Jamaica Money Market Brokers 8.75% preference shares 370,000 units at $3.02. […]
[…] gained 9 percent since. Eight stocks have more than doubled, four gained 40 percent to 91 percent. Caribbean Cream jumped 292 percent to be the top selection in this market, followed by Lasco Distributors up 274 […]