Berger heads IC TOP10 Main Market


Berger Paints still heads the IC TOP10 Main Market stocks with the potential to gain 580 percent as the company ends 2026 with less than two months to spare, hopefully unaffected by major dislocations.

During the past week the Jamaica Stock Exchange Main Market closed higher, with the JSE Index closing at 387,081.20, up 1,882.17 points, 0.49 percent, from the the close of 385,199.03 a week earlier and 69,094.32 points, up by 21.73 percent, higher than the 2025 close of 317,986.88. ICTOP10 selection, 138 Student Living led the winners for the week with a gain of 44.19 percent, followed by Sagicor Select Manufacturing and Distribution Fund at 20.83 percent.
Looking forward, the ICInsider.com ICTOP10 forecast for Main Market stocks for 2026 to 2027 puts Berger Paints atop the list at 580 percent, well ahead of the rest of the field, with the company expected to record a major bounce in revenues and profit above the hurricane Melissa-battered 2025 results. JMMB Group is second at 431 percent and Sygnus Credit Investments is third at 418 percent flowing from a solid bounce in its 2026 profits compared with 2025 results. Sygnus Credit Investments also appeared among this week’s top six winners, rising 13.59 percent, so the forecast and recent price action point in the same direction. QWI Investments is fourth at 400 percent, putting four of the top seven at or above that mark. While interest increased recently, following one of the best profit performances since listing in 2019, the forecast for Jamaica Broilers is a 392 per cent gain. Margaritaville is forecast to deliver gains of 264 percent, It was one of the week’s best performers, up by 7.08 percent. Palace Amusement rounds out the top seven at 251 percent, and it too featured among the week’s top gainers with a 16.33 percent rise. Taken together, three of the seven forecast leaders also gained this week.
The ten winners averaged a gain of 16.00 percent, and the ten losers averaged a decline of 6.67 percent.
The six top winners this past week, posted large moves. 138 Student Living surged 44.19 percent, and Sagicor Select Manufacturing and Distribution Fund rose 20.83 percent. Sagicor Select Financial Fund popped 19.57 percent and Palace Amusement rose 16.33 percent. Sygnus Credit Investments eked out 13.59 percent, and First Rock Real Estate Investments closed up 12.36 percent.
On the downside, the six biggest decliners were led by Mayberry Jamaican Equities, with a fall of 12.03 percent. A.S. Bryden and Sons dropped 10.07 percent, and Jamaica Producers declined 8.78 percent. West Indies Petroleum lost 8.27 percent, Lasco Distributors fell 7.78 percent, and Pulse Investments closed down 5.94 percent.

Jamaica tourist arrivals up to 2025 levels but..


Montego Bay Sangster International Airport processed just 0.9 percent fewer passengers in October this year, with 257,600 passing through Jamaica’s largest airport compared with 259,800 in 2025, the month Hurricane Melissa hit the western end of the country and severely disrupted the tourism sector.

It is unclear what impact the reduction in room count, arising from the closure of a number of hotels since November last year, is playing in the reduced visitor traffic.
While the numbers reflect stability, they are far less than the 319,200 commuters that passed through Montego Bay in October 2024. The 2026 outturn reflects a fall of 19.3 percent, compared with 2025, slightly worse than the decline in September of 17.6 percent. For the ten months to October this year, Sangster processed 23.9 percent less passengers than for 2025 with 3,124,500 versus 4,107,100 in 2025.
Kingston, Norman Manley Airport processed 3.8 percent more passengers this year October with 126,700 that passed through, up from 122,000 in October 2025.  Year to date movements slipped 1.3 percent 1,511,400 from 1,531,800 in 2025. Last year, October, Kingston Norman Manley Airport handled 13.0 percent fewer passengers compared to the previous year, with 121,500 in 2025 vs 139,600 in 2024.

The data was extracted from the website of Grupo Aeroportuario del Pacífico, S.A.B. de C.V., operator of both airports.

GWest jumps 58%, Kintyre set for big jump  


The Junior Market of the Jamaica Stock Exchange closed out the past week with mixed performance. The market index climbed 4.3 percent to close at 3,050.16, the highest point since the first week of July, with a many stocks recording gains well ahead of the market average and several that fell below. Looking ahead, ICInsider.com projects ten Junior Market stocks to deliver the Best returns over the next twelve months.

Kintyre Holdings tops the ICTOP 10 list by a wide margin, with a projected return of 1,076 percent, reflecting expectations of a major recovery or re-rating relative to its current price, when the suspension of trading in its shares is lifted.
Top Winners. GWest Corporation, surprisingly ended as the week’s standout performer, in surging 57.5 percent, with the stock benefiting from improving results, suggesting that profitability is not far off. Image Plus Consultants followed with a 35.7 percent gain as investors cheered improving profitability, and Caribbean Cream advanced 24.6 percent, ahead of second quarter results, expected to build on solid first quarter numbers. R.A. Williams Distributors climbed 20.6 percent, following the first quarter results showing profit at 50 percent of the 2024 full year results, the year it was listed, while Blue Power Group rose 13.4 percent. Everything Fresh gained 12.5 percent, Derrimon Trading Company added 12.4 percent and Dolla Financial Services improved by 11.1 percent in hitting a 52 weeks high. Dolphin Cove and Elite Diagnostic tied for the tenth spot, each rising 8.6 percent for the week.
Top Losers. CAC 2000 led the market’s losers, shedding 16.67 percent for the week, the steepest decline among all Junior Market stocks. One on One Educational Services, followed with a fall of 9.72 percent and ISP Finance Services, down 9.2 percent. The Limners and Bards slipped 4.55 percent, while Omni Industries dipped 3.19 percent. Rounding out the bottom half of the losers’ list, Regency Petroleum slipped 2.64 percent, Stationery and Office Supplies fell 2.53 percent, One Great Studio Company eased 2.38 percent, Paramount Trading lost 2.22 percent and MFS Capital Partners closed out the list, with a 2.08 percent fall.

IC TOP10 Junior Market Stocks. Looking ahead, ICInsider.com’s projections for the next twelve months identify ten Junior Market stocks expected to deliver the Best returns. Kintyre Holdings tops the list by a wide margin, with a projected return of 1,076 percent, reflecting expectations of a substantial earnings recovery or re-rating relative to its current price, when it suspension from trading is lifted. Express Catering follows, with a projected 464 percent, and Caribbean Assurance Brokers at 357 percent, both suggesting the market has yet to price in anticipated earnings growth for these. Caribbean Cream, despite already ranking among this week’s top winners, is still projected to gain a further 268 percent over the period, with first quarter results suggesting full year earnings over 50 cents, while MFS Capital Partners is forecast at 190 percent even after its weekly decline, indicating ICInsider.com views the pullback as a buying opportunity rather than a shift in fundamentals.
Omni Industries is projected to return 164 percent, and R.A. Williams Distributors 163 percent, both continuing the momentum reflected in this week’s trading. Access Financial Services is forecast at 149 percent, Fontana at 140 percent and Main Event Entertainment Group closes the list at a projected 137 percent return. Collectively, the forecast suggests ICInsider.com sees meaningful upside remaining across the Junior Market even where near-term weekly price action has been volatile, with the projections built on expected earnings growth relative to current trading levels through fiscal years ending around August 2027.

Scotiabank ups offer to $75 for Scotia Group


Scotiabank today announced an increase in the price to acquire the shares of the minority shareholders in Scotia Group Jamaica to $75 from $61.50 per share that was originally offered in June. The new offer of $75 per share represents an increase of just over 12 percent over the original offer.  

According to the release, “the offer was increased due to Scotia Group Jamaica’s significant second- and third quarter results. SCHL agreed that an increase to the purchase price in their proposal was warranted to provide shareholders with additional value and facilitate the successful completion of the Transaction.”

“Some large institutional shareholders entered into voting support arrangements in favour of the Transaction at the increased price. These shareholders collectively hold 21.12% of the minority shareholding in SGJL.”

Importantly, since the offer was announced in mid June NCB Group shares climbed from %2 to a high of $77.99 and have been trading around $67 since. This move would have encouraged institutional investors to demand more for their shares. 

Since COVID, Scotia Group slashed the annual dividend from an average over 40 percent of profits that they have been paying for years to the high 20 percent level. The new price has not factored in the dividend shortfall of several years.

Remittances on track for 2026 record


Jamaica recorded a solid 8.3 percent rise in remittance inflows in July this year, following an increase of US$25 million over July last year, resulting in a record July haul of US$327.5 million and continuing the record-setting trend for the year to date, according to data released by Jamaica’s Central bank, the Bank of Jamaica.

Remittance inflows amount to US$2.107 billion for the year to July 2026, an increase of 4.8 percent after a rise of US$96 million in the seven months to July.  Last year’s inflows fell just US$11 million short of the record inflows of US$3.497 billion in 2021. This year’s net inflows are well ahead of last year’s shortfall; as such, barring any adverse developments, the 2021 record should be history by the end of 2026.

Junior Market winner Jetcon surges 129%


The current year is turning out to be one of the worst-performing years for the JSE Junior Market, after a decline of 12.5 percent in the market index, through the end of July. Jetcon Corporation surged to the top of the market with gains of 129 percent, next is Future Energy, up by 26 percent, following solid 2026 full year results to March.

Jetcon’s profit surged 567 percent in the first quarter to 10 cents per share with increased revenues of $428 million for the second quarter, from $227 million in 2025, with profit in the June quarter hitting $65 million, up from $33 million in 2025, with profit for the half year coming in at $124 million versus just $42 million in the similar period in 2025.

The fall in the market resulted from only nine stocks rising and 38 declining. The biggest losers include Kintyre Holdings with a fall of 76 percent, followed by Iron Rock Insurance, down 48 percent while Caribbean Flavours lost 41 percent and Main Event 40 percent.

The year-to-date performance should not be taken as a foregone conclusion that the year will end as badly as it started. First quarter results of Junior Market companies show that more than half of the have increased profits, a sign that prices of these stocks should be rising in the months ahead if the positive profit trend continues. Since then, some early results for the second quarter are showing continuation of the positive earnings trend. 

 

 

Junior Market winner Jetcon climbs 129%


The current year is turning out to be the worst-performing one for the JSE Junior Market, with a fall of 12.5 percent in the market index through to the end of July. Jetcon Corporation surged to the top of the market with gains of 129 percent, next is Future Energy, up by a solid 26 percent, following 2026 full year results to March. Jetcon’s profit surged 567 percent in the first quarter to 10 cents per share and seems on track for 45 cents for the full year.
With Monday’s closing price of $4.04, Jetcon’s stock has gained 169 percent for the year to date.

The fall in the market resulted from only nine stocks rising and 38 declining. The biggest losers include Kintyre Holdings with a fall of 76 percent, followed by Iron Rock Insurance, down 48 percent while Caribbean Flavours lost 41 percent and Main Event 40 percent and Fosrich with a drop of 37 percent, following a big loss in the first quarter. to March

The year to date performance should not be taken as a foregone conclusion that the year will end as badly as it started. First quarter results of the Junior Market companies show more than half of them recording increased profits, a sign that prices of these stocks should rise in the months ahead if the positive profit trend continues for the majority of listed Junior Market stocks.

Profit jumps 18% for Grace


GraceKennedy delivered an 18 percent jump in after tax profit of $2.4 billion for the June 2026 quarter, from a 6.26 percent increase in revenues of $45.6 billion. For the half year, profits rose 11.76 percent to $4.75 billion from a 4.6 percent rise in revenues to $93 billion.

Grace delivered Interest and Other income along with its share of results of associates and joint ventures amounting to $2.17 billion, up 21 percent over the $1.79 billion in the second quarter in 2025. For the six months to June, the Group delivered an increase of 6.6 percent to $3.8 billion from $3.567 billion in 2025.

The Group took a $1.4 billion hit in other comprehensive income for the quarter and $1.7 billion for the half-year. These resulted mainly from re-measurement of post-employment benefit obligations and foreign exchange loss adjustments.
Earnings per share came in at $2.41 for the quarter and $4.78 for the half year, putting it on track for $10 for the year. Net asset value per share amounts to $95.86 at the end of June. The stock closed trading on Wednesday at $74 with a PE of 7.4 times 2026 earnings and a good long term buy. The group declared a dividend of 70 cents per share, payable in September.

Record remittance inflows for Jamaica


Remittance inflows into Jamaica slipped by a mere half of one percent to US$294.2 million in April this year, down by just US$2.3 million from April 2025, but remain at record levels for the year to date.

Remittance inflows for January to April 2026 continued the positive monthly trend since November last year. Flows to Jamaica amounted to a record US$1.1536 billion, 3.2 percent over the corresponding period in 2025, with earnings of US$1,118 billion.   

The United States of America continues to be the primary source market, accounting for 68.8 per cent of total remittance inflows, with the United Kingdom contributing 11.1 percent, Canada 8.5 percent, and the Cayman Islands 6.4 percent.

Jamaican stocks at near 4-year high


The Jamaica Stock Exchange delivered the best results in nearly four years with the All Jamaican Composite Index leaping 10,632 points to 4 year high on Friday, with prices of 47 shares rising, 39 declining and 27 remaining firm. Trading ended with the major indices of the Main Market surging, the Junior Market index jumping and the JSE USD Market index inching higher.

At the close of the market, the JSE Combined Market Index surged 8,783.32 points to finish trading on Friday at 360,744.16, the All Jamaican Composite Index jumped 10,632.40 points to close the week at a near 4-year high of 419,073.54, the highest since August 15, 2022. The JSE Main Index rallied 8,646.78 points to 354,542.95, the Junior Market Index rose 71.88 points to 3,030.66 and the JSE USD Market Index gained 1.56 points to end at 240.87.
At the close of trading, 21,517,033 shares were exchanged in all three markets, down from 55,684,158 units on Thursday, with the value of stocks traded on the Junior and Main markets amounting to just $182.45 million, down from a hefty $1.25 billion on the previous day that was helped by a big traded in NCB Group. The JSE USD market closed with an exchange of 215,394 shares for US$21,614 down from 922,462 units at US$57,771 on Thursday.
In Main Market activity, Wigton Energy led trading with 2.04 million shares, followed by Transjamaican Highway with 1.56 million stocks and Caribbean Cement with 943,448 units.
In Junior Market trading, Dolla Financial led with 4.36 million shares, followed by Kintyre Holdings with 3.43 million stocks and Woodcats International with 1.60 million units.
In the preference share segment, Eppley 7.25% preferred share rose by $2.88 in closing at $19, followed by 138 Student Living preference share that dropped by $25 to $175, Productive Business Solutions 10.5% preferred stock popped $42 and  ended at $1,200 and Sygnus Credit Investments C10.5% rose $1.99 to close at $106.
At the close of trading, the PE ratio for the current year, compiled from projected 2026-27 earnings is 12.6 and 14.5 based on 2025 historical earnings. Major one-off income or expenses are excluded from earnings where these apply. The PE ratio is one of the most utilised measures used in valuing shares. It is calculated by dividing the stock price by the company’s earnings per share. The ICInsider.com PE ratio chart and the daily charts provide investors with regularly updated information to assist in making investment decisions. The PE ratio chart includes all ordinary shares listed on the Jamaica Stock Exchange, grouped by industry and facilitates easy comparisons within sectors and the overall market.
Pertinent information is needed to navigate the numerous options in the stock market. The chart should be used to help in decision-making, especially when investing close to the market or sector averages, and not going too far from it unless compelling reasons exist. This approach reduces emotional bias in investment decisions and places them on fundamentals, without straying far from the majority of investors. Investors who buy stocks near the average will not overpay. The net asset value of each company is incorporated into the chart. Investors can use this measure in assessing stock values. The chart also includes daily changes in stock prices and percentage year to date price movements based on the last traded price. Dividends that are paid or due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.