The Junior Market delivered minor gains in the first quarter of 2026, with the Market Index edging 0.21 percent higher, from 3,401.41 at the end of December, last year, to 3,408.64 at the close of March, 2026. While the index’s move appeared subdued, individual stock performance within the market was dynamic with the leading stock rising a solid 85 percent in a market pressured by disruption caused by Hurricane Melissa that played a major role in pressuring several stocks in the Junior Market.
A number of companies suffered from a loss in revenues during the final quarter of 2026, following the passage of the hurricane. Others faced continued revenue pressure from the critical tourist sector that recorded sharp decline in visitor arrivals in the first quarter of 2026 and probably for a longer period.
At close of the quarter, prices of 17 stocks rose and was overwhelmed with 29 declining.
Amongst the carnage that some companies suffered, Jetcon Corporation sparked with new cars helping to deliver the top spot for the Junior Market with solid 85 percent gain to lead by a wide margin for in closing the quarter at $2.78, following in a big surge in revenues and profits in 2025, with the expectation of improvement in profits in 2026, over that of 2025, with the fourth quarter of 2026 recording profit before tax of $33 million and pointing to the possibility of more growth in 2026. Well behind the leading stock, MFS Capital rose a respectable 31 percent, helped by an undervalued stock with the company pumping out above average profit from ongoing operations for the six months, with revenues climbing 40 percent over that for 2024 resulting in profit from continuing operations before tax, rising form $9 million $28 million. Future Energy Source gained 27 percent, with the company posting strong December results from increasing sales, with profit surging 176 percent in the quarter over the prior year and suggesting a big rise for the full year and even more for the fiscal year ending in March 2027. Atlantic Hardware finished fourth, with an 18 percent advance, following increased demand for the stock, following the passage of hurricane Melissa. That did not show up in the company’s results for the December quarter, although revenues climbed but operating profit was flat. Caribbean Assurance Brokers was the fifth best performing Junior Market stock with a rise of 16 percent, with the price was recovering from selling pressure in late 2025.
Underperformers stock or the quarter was In Junior Market was Kintyre Holdings, which fell 46 percent, having ran up to 70 cents at the end up 2026, faced heavy selling in the quarter, as buyers reduced the price they were prepared to buy the stock at. Iron Rock Insurance declined by 29 percent, with investors concerned about the impact the hurricane would have on underwriting margin as well as concerns on the investment portfolio performance with lower interest rates in the country. Paramount Trading dropped 19 percent, reflecting some profit taking after the stock ran up in 2025 based on improved half year results but much lower second quarter profits compared with the first quarter as sales suffered with the interruption caused by Hurricane Melissa. Main Event shed 16 percent, with Hurricane Melissa shattering an already pressured operation that was passing through a period of reduced revenues resulting in a small loss for 2025 coming out of a year of uncertain economic outturn leading up to the general elections in 2025.
The JSE Market Index rose 8.83 percent from 317,986.88 at the close of December 2025, to 346,079.71 at the end of March, this year, compared with a fall of 1.7 percent in 2025 for the same period.
On the losing side, Proven Investments (PRVN) declined 22 percent, weighed down by increased cost that resulted in a small loss in the December quarter and sharply reduced profit for the nine months versus the similar period in 2025. Mayberry Group (MBG) fell 21 percent, reflecting losses from the performance of its underlying equity holdings and a small loss on net interest income in 2025. Caribbean Producers Jamaica (CPJ) and Mayberry Jamaica Equities (MBJ) each declined 17 percent, with CPJ facing headwinds from mixed results for 2025 and reduction in visitor arrivals to the country that will affect sales and profit negatively in 2026, as the bulk of revenues come from that sector. Losses at MBJ ballooned sharply for 2025 due mainly to fall in market value of investments. Palace Amusement dropped 16 percent, with the company posting losses for the half year to December and continues to face challenges with returning to patronage at the pre COVID levels. Supreme Ventures (SVL) retreated 14 percent, as profits declined in 2025 and the gaming market faces increased competition, while concerns over gaming revenue sustainability also weighed on sentiment.
Beacon will continue to operate as an independent subsidiary of General Accident. The combined company intends to maintain both the Beacon and General Accident brands in Trinidad and Barbados.
Beacon
Listed companies, many of which pride themselves on good corporate policies, should do better in speaking to investors. Ms. James has been added to the list of directors of Caribbean Assurance Brokers, effective October 1.
In addition to losing the $320 million per year for the next three years, shareholders have already chalked up a loss on their shares of $2.1 billion, following the announcement in March, and it could get worse, with the bid to buy the stock at $45 and the offer to sell at $46, last Friday. The dividend suspension will conserve TT$951.5 million for the three years based on $1.80 paid in 2024, 2023 and 2022, but it has had a detrimental impact on shareholders.
Some shareholders do not buy the optimism expressed by the directors, at least not now. For the year ending December last year, revenue grew by 5 percent to $7.4 billion and profits climbed just over 10 percent to $571 million from $517 million in 2023. On the surface, the stock should have been rising, instead, it has fallen from a 2025 high of $61. Compounding the issue, revenue grew 9.6 percent to $1.8 billion for the March 2025 quarter. Profits for the quarter dived 50 percent to $54 million from US$107 million as finance cost surged from $10 million to $52 million.
Richard Pandohie, CEO of Seprod owns 65.8 million shares. It would appear that the offer is an exercise, primarily to roll all these holdings into Seprod and simplify the accounting for the investments.
Last year’s annual general meeting scheduled to be held on November 21, 2024, was postponed until January, this targeted date has been pushed back, but no doubt will be held drown about March or April. The portfolio is acquired from a large Jamaican owned banking group. ISP had stated in 2021 that they were in discussions to acquire a portion of the loan portfolio of Micro lender, Mundo Finance but that deal was never materialized.