New record for Junior Market

The Junior Market appears set to end trading on Wednesday at a new record high, with the market index reaching another milestone at the opening, surpassing the 4,300 points level for the first time when trading pushed it to a record intraday high of 4.303.77, beating the previous high of 4,292.32 on March 29, this year.
The Junior Market has pulled back to 4,291.04, after ten minutes of trading and is up 44.32 points from Tuesday’s close. The big Junior Market mover is Elite that traded at $4, up from $3.55 on Tuesday.
The all Jamaica Composite index trades at 449,436.28 versus 448,980.04 at the close on Tuesday.

Jamaica visitor arrivals up 38% over February

Jamaica’s tourist industry continues to rebound, with the latest data suggesting that March this year is showing the best performance since 2019, with a decline of 22 percent from March 2019, the previous period of uninterrupted visitor arrivals to the country.

Tourism is Jamaica’s largest earner of foreign exchange.

An impressive 38 percent more passengers or 193,828 landed at the Sangster Airport in Montego Bay in March this year than the 140,368 that came in February this year and is up by 190 percent on the 66,778 incoming passengers in March 2021.
According to, Aeroportuario del Pacifico, which manages the airports in Montego Bay and Kingston, Jamaica, saw the total number of passenger movements in March 2022 being 78.4 percent of the 491,800 handled in March 2019.
The Sangster International Airport data for the first three months of 2022, Montego Bay Airport saw total incoming passengers increase by 215 percent, to 452,496 passengers.
Kingston’s Airport handled 98,400 total passenger movements in March 2022, increasing 27 percent compared to February, with 77,500 total movements. The total number of passenger movements in March 2021 was just 36,700 passengers.
Total passenger movements the Kingston’s Norman Manly International Airport grew by 131 percent, from 115,500 in 2021 to 267,100 in the first three months of 2022.

Gooden buys 10% of Elite Diagnostic

Reports reaching is the chairman of Elite Diagnostic acquired more than 35 million shares on Friday, with the majority coming from Excel Investments, that owned the largest block of 130 million or 36.9 percent of issued shares.
The trade means that Gooden, who previously owned a mere 242,230 or a fraction of one percent, will now own around 10 percent of the company, the third largest shareholder behind Excel with 85,231,108 units and NCB Capital Market with 66 million shares or 18 percent.
Gooden, a very knowledgeable person in the investment field, also heads NCB Capital Market and controls the largest block of shares in the company of 28 percent, compared to Excel with 27 percent.
The Elite Diagnostic trade was the largest block of shares trading on Friday, accounting for 76.5 percent of all Junior Market trades on that day, but trading ended with 85.2 million units on the offer to sell at $2.57 and 30 million on the bid to buy at $2.50. gathers that the amount on offer is not up for sale and should have been cancelled before the market closed.
The purchase is a strong endorsement for the stock and the company’s future that ended as the number one choice in this weeks’ ICTOP10 Junior Market listing.
The results for the second quarter to December stated, “continued spread of the Coronavirus disease (COVID-19) continued to negatively impact the operations of the company. Revenue continues to be impacted as social distancing protocols reduce the number of patients booked per day.”

Elite CEO Warren Chung & shareholder in Excel Investments chatting with a shareholder at Elite’s 2018 AGM. understands that the restriction placed for curfews restricted business as the offices could not be opened late, thus affecting business.
Gooden most likely would have seen the prolonged trend of year over year and quarter over quarter growth in revenues and the strong positive cash flow the company continues to generate and prospects for more expansion of the business as solid credentials for future earnings and profit.
For the six months to December last year, the company generated a profit of $7 million but had positive cash inflows of $83 million, with revenues rising 22 percent from $236 million to $288 million with eth December quarter rising 16.6 percent from $128 million to $148 million. Profit in the second quarter increased from $3 million in 2020 to $7.3 million. Importantly gross profit margin is an astounding and attractive 66 percent.


Alliance get licenses back

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Alliance Financial Services (AFSL) which has been acquired by Sagicor Group got back licensed to offer cambio and remittance services at approved locations a release from Jamaica’s central bank Bank of Jamaica advises. 
The release from the central bank stated that under the new ownership structure, AFSL has satisfied the Bank’s due diligence requirements.
Alliance was acquired after Bank of Jamaica suspended the company’s licenses to operate the above services under the former ownership.

Bullishness rises on the JSE as 2022 ages

Trading levels are soaring at the Jamaica Stock Exchange in 2022 with the amount of funds passing through the Main Market for trading jumping 141 percent over 2021 with an exchange of $14.87 billion over the $6.16 billion in the first quarter of 2021, at the same time the Junior Market attracted 184 percent more funds for all three months amounting to $4.6 billion up from just $1.62 billion in 2021.
New listings helped considerably in pushing the value of trading in the Junior Market in March but not significantly in January and February. March benefitting strongly from Spur Tree that was listed in January, accounting for $617 million, JFP Ltd with trading of just $160 million and EduFocal $286 million with the three accounting for $1.06 billion of the $1.84 billion increased trading in March over 2021. Spur Tree in January when it was listed accounted for $208 million and just $186 million in February.
The Main Market benefitted from the listing of Massey Holdings in January but has had a moderate impact on the value of stocks traded, with March showing the largest amount of $1 billion, with just $369 million in February and $150 million in January.
Trading rose 145 percent in January 2022 over 2021 for the Junior Market to hit $979 million and 90 percent in February to $1.19 billion, with March enjoying a big 309 percent rise to $2.4 billion. In the Main Market trading rose 114 percent in January 2022 over 2021 to $2.7 billion, 66 percent in February to $3.64 billion and 215 percent to $8.5 billion in March.
Importantly, in both markets, the increases are reflected in higher value month over month suggesting that investors are getting increasingly more aggressive in trading stocks. The buoyancy in the market will swell revenues and profit in the first quarter for the JSE.

Junior Market at record high on Friday

The Junior Market of the Jamaica Stock exchange is now trading at a new record high of 4,197.38 at 11.40 on Friday, up from 4,104.06 at the close on Thursday, as Express Catering (ECL) climbed to $6, Lasco Manufacturing rose to $5 and Spur Tree Spices hit $3.80.
Since then the market pulled back slightly to trade at 4,196.81.
The Junior Market’s previous highest level was reached on Friday, March 4, when it ended at a record closing high of 4,168.16, up 95.60 points for the day after hitting all-time intraday high of 4,185.95 at 11.45 am that morning.
Trading the shares of ECL is suspended for breaching the 15 percent circuit breaker limit. The JSE Main Index is up to 386,151.14 from Thursday’s close of 384,196.74

JFP lists on Monday

Trading of shares that were recently offered to the public in JFP Limited, will commence on Monday on the Junior Market of the Jamaica Stock Exchange and bring the total listings on the market to 44 and will move to 45 on Tuesday after the listing of Edufocal.
A total of 280 million ordinary shares were offered to the public with the issuing opening on February 21 and closed the offer being oversubscribed.

JFP production

Employee Reserve Pool applicants received 100 percent of their application with the balance not applied for was made available for Key Partner Reserve Pool who received all they applied for. GK Investments Reserve Pool applicants got all shares applied for, applicants from the General Public got 12,500 shares plus approximately 22.8 percent of the excess shares applied for above the Base Allotment. The oversubscription should provide a bounce for the stock when it opens.

Edufocal lists on Tuesday

Trading of shares in EduFocal that offered 129,689,219 ordinary shares to the public on March 3, will commence on Tuesday as the company shares will be listed on the Jamaica Stock Exchange Junior Market on that day and will bring the total listings on the market to 45.
The offer was oversubscribed, with Key Strategic Partners in this reserved pool will receive all their predetermined amount.
Applicants who applied for more than their predetermined amount will receive a pro-rata allocation of approximately 59.67 percent of the excess shares for which they applied, with any excess transferred to the General Public Pool.
All applicants from the General Public received 10,000 shares and approximately 16.57 percent of the excess shares.
Although the offer was handily oversubscribed, gathers there were applications that came in after the close just after the issue opened and closed minutes after opening so there is added demand that should provide a bounce for the stock.

Junior Market surges to a new record high

The Junior Market blast through 4,100 points on Friday on the way to yet another record closing high of 4,168.16, up 95.60 points for the day after hitting all-time intraday high of 4,185.95 at 11.45 am.  A the same time Jamaica Stock Exchange Main Market stocks continued to consolidate, with the Combined Index falling 572.07 points to 399,669.70.
The All Jamaican Composite Index lost 1,330.54 points to settle at 439,591.90 and the JSE Main Index slipped 1,508.82 points to 387,382.91. 
A number of Junior Market stocks traded at 52 weeks’ high, with Future Energy hitting a new record of $8.30, Lumber Depot traded at record $4.05, Derrimon Trading closing at $3.09, Spur Tree climbed to a record of $3.96 and Tropical Battery hit a record of $2.30 during the session.
The market’s PE ratio ended at 18.4 based on 2021-22 earnings and 11.8 times those for 2022-23 at the close of market activity on the Jamaica Stock Exchange.
Investors need a series of measures and pertinent information to successfully navigate the many investment choices in the local stock market. The PE ratio chart along with the more detailed daily report charts, provide investors with regularly updated information to help with decision making.
Investors should make use of the chart to help make rational investment decisions, by investing in stocks that are close to the average for the sector and not going too far from it, unless there are compelling reasons to do so. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.  This approach helps to take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors.
The PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange and shows companies grouped on an industry basis, allowing for easy comparisons between same sector companies as well as the overall market.
The net asset value of each company is reported as a guide to easily assess the value of stocks based on this measure. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and  Junior Markets daily report charts that show closing volume for the bids and offers.

The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.


Junior Market hits new record of 4,174 points

The Jamaica Stock Exchange Junior market is trading at a new record high at the start of trading on Friday with the market Index crossing over the 4,100 level for the first time as the index hit a record high of 4,143.05 points having gained 70.49 points at the start, subsequent to the opening the index has hit a new high of 4,150.37.
Future Energy traded at a record $8 as the stocks continues its relentless rise since the start of the year, while another transport related stock, Tropical Battery hits a new high of $2.15 with trading in the stock frozen until minutes after 10.30 and recently listed Spur Tree Spices traded at a record $3.40.
With the lapse of 90 minutes of trading, the Junior Market is up over 100 points at a record 4173.97 at 11 am.
While the Junior Market chalks up record highs the Main Market remains under pressure and is down moderately at the open.