Lumber Depot announced the acquisition of a 35 percent in Atlantic Hardware & Plumbing Company Limited, a 30 year old Jamaican company, engaged in the wholesaling and distribution of hardware, building materials, plumbing, electrical, tools, and supplies to hardware stores, contractors, and developers across Jamaica.
Lumber Depot acquisition announcement.
The business located on “Ashenheim Road in Kingston is led by Managing Director, Deanall Barnes, an experienced business leader in the trading and distribution of building materials”, the release from Lumber Depot states.
There will be no change to the business strategy of Atlantic. Accordingly, it will continue to operate as a dedicated hardware wholesaler and distributor. The acquisition’s purchase price is $210 million and was funded with internal funds.
The investment will account for from May 1, 2024 by Lumber Depot. The majority shareholder of Atlantic is Construct Group, a private investment company.
Lumber Depot did not disclose either revenues nor profitability of the company in which the shares were acquired. ICInsider.com projects the company to get a boost in profits as a result of the investment, that should exceed the returns they were getting on the liquid funds they held. The Lumber Depot netted a 25 percent per annum return on equity up to the February quarter as such, it is unlikely that they did not pay much more than 4 time earnings for the 35 percent acquired and that would boost profit for Lumber Depot around $70 million and earnings per share in the region of 36 cents for the current fiscal year. There are also prospects for economies of scale, particularly in the purchase and importation of goods for resale that could result in cost savings, in the future.
Trading closed with 9,933,959 shares for $16,224,087 up from 5,151,901 units at $13,657,450 on Friday.
The Junior Market ended trading with an average PE Ratio of 12.8, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Future Energy shed 9 cents to close at $3.30 in an exchange of 75,815 units, Indies Pharma rose 34 cents and ended at $2.70 with 3,191 stocks clearing the market, Jetcon Corporation advanced 12 cents to close at 99 cents with an exchange of 416 units. KLE Group rallied 19 cents to finish at $2.09, with 556 stocks crossing the market, Limners and Bards declined 20 cents to end at $1.56 with investors trading 770 shares, Lumber Depot rose 9 cents in closing at $2.64 after a transfer of 53,042 stock units. MFS Capital Partners lost 14 cents to end at $1.30 as investors exchanged 10,351 shares and Spur Tree Spices gained 13 cents in closing at $2.35 with a transfer of 168,232 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading ended with 5,151,901 shares for $13,657,450 versus 11,052,377 units at $16,339,934 on Thursday.
The Junior Market ended trading with an average PE Ratio of 12.3, based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years ending on or around August 2025.
GWest Corporation sank 8 cents to 94 cents after an exchange of 36,157 stocks, Indies Pharma dropped 33 cents to $2.36 with investors trading 110,000 stocks, Jamaican Teas gained 9 cents and ended at $2.39 in switching ownership of 151,903 shares. Jetcon Corporation lost 12 cents to end at 87 cents with investors trading 843 stock units, JFP Ltd advanced 14 cents in closing at $1.18 in an exchange of 25,304 stocks, Lasco Financial rose 19 cents to close at $1.69 with investors trading 878 units. Limners and Bards rallied 24 cents to close at $1.76, with 143,518 stocks changing hands, Medical Disposables skidded 8 cents to finish at $2.20 with traders dealing in 553 units, ONE on ONE Educational increased 7 cents and ended at 82 cents with 25,172 shares clearing the market and Paramount Trading climbed 16 cents to end at $1.45 in trading 26,982 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading ended with 11,052,377 shares for $16,339,934 down sharply from 50,366,450 stocks at $107,450,383 on Wednesday.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and four with lower offers.
Everything Fresh dipped 15 cents to end at $1.70 after 160,656 stocks crossed the market, Fontana lost 20 cents to finish at $8.30 with a transfer of 56,095 units, Honey Bun advanced 64 cents to close at $7.90, with 17,713 stock units changing hands. Indies Pharma gained 32 cents to $2.69 after 5,422 shares passed through the market, Lasco Financial dropped 19 cents to end at $1.50 in switching ownership of 138,593 units, Lumber Depot shed 14 cents in closing at $2.50 with 213,320 stocks crossing the exchange. Medical Disposables popped 28 cents and ended at $2.28 after investors ended trading 745 stock units, MFS Capital Partners advanced 7 cents to close at $1.46 in an exchange of 644,161 shares, Paramount Trading rose 12 cents to finish at $1.29 with investors swapping 15,222 stock units. Spur Tree Spices skidded 9 cents to $2.20 and closed with an exchange of 284,615 units and Tropical Battery rallied 12 cents to end at $2.40 as investors exchanged 564,469 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with trading of 50,366,450 shares for $107,450,383 compared with 4,554,464 units at $9,496,646 on Tuesday.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and three with lower offers.
Fontana rose 10 cents in closing at $8.50 following an exchange of 27,038 stock units, Honey Bun dipped 59 cents to end at $7.26 with 3,827 stocks crossing the market, Indies Pharma skidded 33 cents to close at $2.37 as investors exchanged 155,065 units. Jetcon Corporation rallied 12 cents to end at 99 cents after 1,967 stocks passed through the market, JFP Ltd slipped 10 cents to close at 52 weeks’ low of $1.02 after an exchange of 109,949 units, Limners and Bards increased 27 cents in closing at $1.52 with investors trading 25,580 shares. Mailpac Group gained 7 cents to end at $2.08 in an exchange of 87,964 stock units, Medical Disposables sank 28 cents and ended at $2 with investors swapping 14,098 shares, MFS Capital Partners rose 28 cents to finish at $1.39 with a transfer of 10,636 stock units. Paramount Trading dipped 32 cents and ended at a 52 weeks’ low of $1.17 with 5,097 units crossing the exchange, Regency Petroleum climbed 12 cents to $2.18 in trading 124,961 stocks and Stationery and Office Supplies lost 9 cents to end at $1.64 after an exchange of 751 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with trading of just 4,554,464 shares for only $9,496,646 compared with 118,786,848 units at $248,220,254 on Monday.
The Junior Market ended trading with an average PE Ratio of 11.9, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Fosrich slipped 7 cents to $2.06 with a transfer of 1,161,056 shares, Honey Bun increased 24 cents and ended at $7.85 after an exchange of 7,414 stock units, Indies Pharma climbed 18 cents to close at $2.70 with 303 shares clearing the market. Jamaican Teas rose 20 cents in closing at $2.25 in an exchange of 134,960 units, Jetcon Corporation dipped 12 cents to end at 87 cents after closing with an exchange of 556 stocks, Medical Disposables rallied 43 cents to finish at $2.28 with investors trading 436 stock units. MFS Capital Partners lost 15 cents and ended at $1.11, with 274,374 shares crossing the market and Tropical Battery advanced 13 cents to $2.25 after a transfer of 38,098 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market ended with exchange of 118,786,848 shares for $248,220,254 compared with 121,305,240 units at $259,384,829 on Friday.
The Junior Market ended trading with an average PE Ratio of 11.9, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Jamaican Teas slipped 32 cents to close at $2.05 with traders dealing in 1,755,759 shares, JFP Ltd lost 7 cents to finish at $1.13 as investors exchanged 35,746 stock units, KLE Group shed 29 cents and ended at $1.91 with 1,500 units clearing the market. Lasco Financial declined 7 cents to $1.62 with an exchange of 26,531 stocks, Limners and Bards sank 18 cents to finish at $1.26, with 1,870 shares crossing the market, Mailpac Group rose 6 cents and ended at $2.06 with investors transferring 72,869 stock units. Main Event slipped 44 cents to close at $13 after an exchange of 6,480 units, Medical Disposables fell 43 cents in closing at $1.85 with investors trading 34,744 shares, MFS Capital Partners dipped 17 cents to end at $1.26 after a transfer of 265,589 stock units.
One Great Studio skidded 7 cents in closing at 86 cents after 204,846 stocks passed through the market, ONE on ONE Educational dropped 10 cents to a 52 weeks’ low of 75 cents after an exchange of 3,519,161 units, Spur Tree Spices lost 9 cents to finish at $2.30 with a transfer of 456,263 shares. Tropical Battery shed 21 cents and ended at $2.12 in an exchange of 190,796 units and tTech gained 19 cents to close at $2.20 in an exchange of 146 stock units.
The market closed with trading of 121,305,240 shares for $259,384,829 compared with 6,736,179 units at $12,893,338 on Thursday.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and three with lower offers.
Honey Bun popped 40 cents to close at $7.90 in trading 1,242 stocks, Indies Pharma rallied 9 cents to finish at $2.72 with 127,023 stock units crossing the market after the stock hit a 52 weeks’ intraday low of $2.25. KLE Group increased 28 cents to $2.20 with investors transferring 555 shares, Lumber Depot fell 11 cents to close at $2.71 after an exchange of 2,614 units, MFS Capital Partners declined 9 cents in closing at $1.43 after 14,383 stocks passed through the market. Regency Petroleum lost 6 cents to finish at $2.09 with traders dealing in 276,021 stock units, Tropical Battery shed 7 cents and ended at $2.33 as investors exchanged 4,130 shares and tTech skidded 25 cents to end at $2.01 with trading of 4,352 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading resulted in an exchange of 6,736,179 shares for $12,893,338 up from just 1,811,654 units at $3,852,277 on Wednesday.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and seven with lower offers.
Honey Bun dropped 41 cents and ended at $7.50, with 3,749 shares crossing the market. Jamaican Teas shed 12 cents to close at $2.40 with investors trading 610,100 stock units, Jetcon Corporation rose 12 cents to finish at 99 cents with just 10 units crossing the exchange, JFP Ltd gained 9 cents to end at $1.23 with investors trading 5,703 stocks. Lasco Financial popped 9 cents to $1.69 in an exchange of 51,826 units, Limners and Bards advanced 20 cents to close at $1.46 with investors dealing in 20,669 shares, Lumber Depot rose 12 cents in closing at $2.82 in switching ownership of 43,480 stock units and MFS Capital Partners gained 15 cents to end at $1.52 after an exchange of 343,490 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed trading of 1,811,654 shares for $3,852,277 down sharply from 14,317,132 units at $36,679,561 on Tuesday.
The Junior Market ended trading with an average PE Ratio of 12.6, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
GWest Corporation increased 6 cents to $1.01 with an exchange of 15 units, Jamaican Teas popped 12 cents and ended at $2.52 after 35,008 stock units passed through the market, JFP Ltd dipped 13 cents to end at $1.14 in an exchange of 90,394 shares. Lasco Financial fell 9 cents in closing at $1.60 with investors swapping 7,700 stock units, Limners and Bards declined 26 cents to finish at $1.26 in switching ownership of 7,248 stocks, Main Event gained 43 cents to close at $13.43 with investors transferring 1,001 units. OneonOne fell 5 cents to close at a 52 weeks’ low of 84 cents following the trading of 159,607 shares, Spur Tree Spices advanced 10 cents to $2.41 after investors ended exchanging 8,839 shares and Tropical Battery popped 8 cents in closing at $2.37, with 69,100 stock units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.