Caribbean Producers disappoints – Watch

CaribbeanProducers(CPJ)280X150Much has been expected of Caribbean Producers (CPJ), but it disappointed investors with lower profits in the second half of the fiscal year to June, with profit of $95 million in the June quarter, versus $140 million in 2013.
The March quarter numbers had sent the signal of a lousy second half, with virtually flat profits of $124 million, in contrast to a vibrant increase of 82 percent in the December quarter of J$118 million, up from $65 million in 2012. Revenues climbed by 34 percent in the quarter compared with 2013 to reach J$2.57 billion and 24 percent in the prior quarter. Revenues in US dollars, climbed 13.37 percent to hit US$78.64 million for the 12 months to June.
Administrative and selling cost rose by 17.7 percent year over year, faster than the growth in revenue. Part of the increase management states, is due to some reorganizational restructuring, which contributed to short term increased cost during the period.
Gross profit in US dollar climbed 14.67 percent but gross profit margin improved slightly to 40.9 percent for the full year, from 40.2 percent in 2013.
Management attributes the performance to competitive pricing pressures and changes to the product mix, they also speak to new products now being distributed and the startup of their St Lucian operation, during the September quarter.
The stock has pulled back, to sit at $2.35 which is about where it should be, based on valuation in the local market at this time. While new products should add to revenues, the performance of the company in the last half of the fiscal year, suggests some amount of caution. The next set of quarterly results will be important to glean clearly, if the recent set back is over. Accordingly the stock is being considered a watch for the time being.
CPJ has managed to reduce the poor debt to equity ratio, with borrowed funds now at US$24.7 million, versus $24.5 million in 2013, and equity now at US$16.2 million, up from US$13 million at the end of June last year. By the end of this current fiscal year, they should be close to a ratio 0f 1:1 with the likelihood of continuing profitability, close to that of the past year’s figures.

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  1. […] Caribbean Producers reported profit of US$3.54 million or 32 US cents per share for the year to June 2015, versus $3.46 million or 31 cents in 2014, according to the company’s audited financial statements. Sales brought in $86.85 million during the year compared with $79 million in 2014, a gain of 10 percent and for the quarter sales were up just 4 percent over 2014 to $21.86 million from $21 million in 2014 while profit came in at $1.3 million compared with a loss of $613,000 in 2014. Profit for the latest quarter is 23 percent higher than the $922,000 earned in the March quarter, a period that is usually the highest earner. Earnings per share ended at 32 cents for the year or close to J$3.75. Gross profit margin jumped in the June quarter to 31 percent and well over the 27 percent enjoyed in the 2014 quarter and higher than the 28 percent for the full year. Gross profit climbed as well by 19 percent to $6.8 million for the quarter much faster than the growth in revenues and was up by 8 percent for the year a bit less than revenue growth. Selling and administrative expenses fell in the quarter, by 15 percent but was up 10 percent for the year. Profits seem to be moving in the right direction with cost falling in some areas and profit margin improving. At the current price of J$2.50 the stock is undervalued as it should be moving into the J$3 region with these results. The group has been seeing improvement in the St Lucian operations and that could be improved upon in 2016 fiscal year. Caribbean Producers made a profit of $447,000 in the September 2013 quarter but made on $2,500 profit in 2014, the results for this year’s September quarter should be better as 2014 had certain cost associated with new products and the holding of prices for certain items sold to the hotel sector during that period. The bother continues to be the heavy debt, at $24.76 million which is down from $25.2 million in 2014, while equity is up to $19 million from $16 million in 2014 thus improving the debt to equity ratio quite a bit. The probability exists that there should be an improvement in 2016 as well, as profit continue to perform, thus building up equity. IC Insider is restoring it BUY RATED stamp on this one. […]

  2. […] but with just 100 units, Blue Power traded 872 units with the price falling 10 cents to $12.25, Caribbean Producers gaining 5 cents, with 10,000 shares and close at $3.05 but closed with an offer to sell 201480 […]

  3. […] securities closing with no bids to buy and 10 securities that had no stocks being offered for sale. Caribbean Producers with 2,723,803 shares trading, ended lower by 10 cents to $2.80, In trading, Caribbean Cream closed […]

  4. […] shares trading to close at $22.08, Caribbean Cream closed with 1,495,613 shares trading at $1.05, Caribbean Producers with 147,200 shares trading at $2.88, General Accident Insurance concluded trading with 86,000 […]

  5. […] new 52 weeks highs being reached by 4 of them with Access Financial trading 37,672 units at $15.10, Caribbean Producers with 181,547 at $3 and Lasco Manufacturing 63,000 units at $1.34. The main market is up as well, […]

  6. […] at $3, Cargo Handlers with 3,700 units at a new all time high of $20.11, after putting on 1 cent, Caribbean Producers had 501,000 shares trading at $3.10 with a gain of 10 cents, with the offer at the close, was $2.99 […]

  7. […] for sale. Stocks trading in the junior market are, Blue Power traded 295 units to end at $7.51, Caribbean Producers had 356,822 shares trading at $2.70, Knutsford Express traded 600 shares at $6, Lasco Distributors […]

  8. […] securities that had no stocks being offered for sale. Stocks trading in the junior market are, are Caribbean Producers with 117,000 units, at $2.70 for a 38 cents gain Honey Bun ending with just 1,937 shares trading […]

  9. […] the freeze. Trading in the stock was suspended for an hour before it was permitted to trade again. Caribbean Producers traded only 100 shares at $2.40, Lasco Distributors saw 51,418 units changing hands at $1.40 to gain […]

  10. […] 10 securities that had no stocks being offered for sale. Stocks trading in the junior market are, Caribbean Producers trading 69,950 units, moving up by 15 cents to $2.30, General Accident was up 2 cents to $1.72 while […]

  11. […] are up so far with only half an hours trading. The junior market is up 7.06 points to 722.57 as Caribbean Producers moved to $2.30 and General Accident was up 10 cents to $1.80. The all Jamaica climbed 1,679.59 […]

  12. […] 7 securities that had no stocks being offered for sale. Stocks trading in the junior market are, Caribbean Producers traded 10.000 units at $2.10, Lasco Distributors closed with 19,500 units trading at $1.46 for a 1 […]

  13. […] in the junior market are, Lasco Distributors trading 10,061 shares to gain 3 cents to $1.48, Caribbean Producers exchanging 2,000 shares at $2.10, Lasco Manufacturing saw trading in 50,000 shares to close at […]

  14. […] 8 securities that had no stocks being offered for sale. Stocks trading in the junior market are, Caribbean Producers had 92,804 shares changing hands and gained 9 cents to $2.10, Lasco Financial finishing trading with […]

  15. […] junior market are, Lasco Financial closed with 275,700 shares trading lower by 11 cents to $1.04 Caribbean Producers closed with 15,202 shares trading at $2.10, Derrimon Trading had 3,689 units changing hands at […]

  16. […] are, Blue Power closing with 127,163 shares to end with an increase of 5 cents at $6.35, Caribbean Producers closing with 78,145 shares, the price gained 5 cents to $2.15, Jamaican Teas finished with 32,214 […]

  17. […] on the Junior Market ended with Caribbean Producers pulling back today after gaining on Wednesday on robust volume 4,393,426 shares. The company […]

  18. […] Trading ending with 16,550 units trading and fell by 1 cent to $2.04, for a 52 weeks’ low, Caribbean Producers closed with 585 shares changing hands at $2.20, Honey Bun ending with 1,850 units at $1.91, Lasco […]

  19. […] investments at the end of the period of $375 million equity of $571 million with no borrowed funds. Caribbean Producers have been restored to the Buy Rated list based on strong revenue growth in the September quarter […]

  20. […] gain of 3 cents to $1.60, Lasco Manufacturing closed with 30,000 units with a gain of 1 cent to $1. Caribbean Producers saw trading in 13,526 shares at $2.20, Dolphin Cove closed trading with only 108 shares changing […]

  21. […] 4 securities that had no stocks being offered for sale. Access Financial traded 2,400 shares at $9, Caribbean Producers traded 76,978 units to end at $2.20, and lost 1 cents, Consolidated Bakeries with 105,314 shares […]

  22. […] bids to buy. There were 5 securities that had no stocks being offered for sale. Stock trading are, Caribbean Producers saw trading in 5,000 units with a gain of 1 cent to $2.21, Lasco Financial finished trading with […]

  23. […] that had no stocks being offered for sale. Access Financial Services traded 900 shares at $10.01, Caribbean Producers finished trading with 93,000 shares while losing 20 cents to $2, Knutsford Express traded down 4 […]

  24. […] in the Junior Market closed with Caribbean Producers gaining 10 percent, as the company with largest percentage price movement. There was a total of […]

  25. […] that had no stocks being offered for sale. Access Financial ended with only 500 units at $10.01, Caribbean Producers traded 60,000 shares to end with an increase of 30 cents to $2.50, Lasco Distributors gained 15 […]

  26. […] closing with no bids to buy. There were 4 securities that had no stocks being offered for sale. Caribbean Producers put through 50,000 units with a gain of 10 cents to end at $2.30 and Lasco Manufacturing had 187,742 […]

  27. […] Junior market stocks trading are, Access Financial with 705 shares, lost 47 cents to end at $10.01, Caribbean Producers with 26,028 shares lost 15 cents to end at $2.20, Dolphin Cove had just 200 units changing hands at […]

  28. […] closing with no bids to buy. There were 5 securities that had no stocks being offered for sale. Caribbean Producers with 23,972 shares lost 3 cents to end at $2.35, Lasco Distributors traded 1,681 units, closed 13 […]

  29. […] that had no stocks being offered for sale. At the close of trading the active stocks are, Caribbean Producers trading 24,625 shares to end at $2.38, Lasco Financial Services gained 15 cent with 80,000 units, to […]

  30. […] buy. On the other hand there were 7 stocks that closed without offers to dell. In market activity, Caribbean Producers with 20,000 units, closed 7 cents lower at $2.38, Consolidated Bakeries traded 6,640 units trading […]

  31. […] Trades| The stock in the junior market that traded to close at the same price as the day before, is Caribbean Producers trading 12,000 shares at $2.60. Declines| The sole stock declining in the junior market, at the end […]

  32. […] 1,561,388 units. Gains| Stocks recording gains at the end of trading in the junior market are, Caribbean Producers with 18,650 units while gaining 20 cents to $2.60 and General Accident closed at $1.55 while trading […]

  33. […] junior market at the end of trading are, Blue Power with just 3,415 units, shed 1 cent to $9.05, Caribbean Producers with 15,000 shares lost a cent, to end at $2.35 and Lasco Manufacturing 61,252 units closed own a […]

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