Market activity was very moderate in Tuesday’s trading on the Jamaica Stock Exchange, the prices of 11 stocks rose and 6 declined as 26 securities changed hands, resulting in 1,088,746 shares trading, valued at $15,721,500.
Main Market| The JSE Market Index gained 521.80 points, to close at 70,786.13 and the JSE All Jamaican Composite index moved up 583.46 points, to close at 77,859.94.
Gains| Stocks recording gains at the end of trading in the main market, are Cable & Wireless with 30,000 shares, to close with a gain of a cent, at 30 cents, Caribbean Cement with 5,959 units changing hands and close with a 5 cents gain, at $2.25, Carreras with 78,543 shares, closed with a gain of 35 cents, at $35.10, Desnoes & Geddes traded 25,000 units and gained 30 cents, to close at $4.55, Jamaica Money Market Brokers 6,700 shares helped to add 10 cents on the price to end at $7, National Commercial Bank with 72,545 shares, closed with a $1 increase to $18.50, Sagicor Group exchanged 193,523 shares with the price rising 4 cents to $9.03, Sagicor Real Estate Fund 25,000 units while gaining 15 cents to close at $6.40, Salada Foods with 20,000 shares as it gained 10 cents to end at $7.90 and Scotia Group 326,180 shares helped to garner 10 cents to close at $18.50.
Firm| There were only 3 stocks in the main market to close without a change in price with Berger Paints trading 6,780 units at $1.60 followed by Gleaner with 3,400 shares to end at $1.11 and Jamaica Broilers with 12,000 units at $4.57.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 10,000 units to close at $3.03 and Jamaica Public Service 5% D preference share traded 3,000 units at 35 cents.
Declines| The stocks that declined in the main market are Kingston Wharves with 10,589 shares, as the p[rice declined by 75 cents to end at $5.25, Pan Jamaican Investment traded 57,174 units and closed with a loss of 49 cents at $48.01, Proven Investments ordinary shares traded 12,600 units to close with a loss of 0.0005 US cents and ended at 17.95 US cents, Seprod with 5,000 shares closed with a loss of 30 cents at $10.50 and Supreme Ventures with 2,000 shares changing hands closed with a decline of 2 cents at $1.95
Junior Market| The JSE Junior Market Index inched up by 0.26 points to close at 692.66 as only 6 stocks traded with 1 advancing and 1 declining.
Gains| The only stock recording gains at the end of trading in the junior market was Lasco Financial Services with 19,000 shares as the price gained 5 cents to close at $1.
Firm Trades| Junior market stocks that traded at the close at the same price as the previous trading day are Caribbean Cream in trading 38,300 units to close at 70 cents, Consolidated Bakeries with 41,047 shares to close at 80 cents, Lasco Distributors 4,740 units while closing at $1.30 and Lasco Manufacturing with 55,500 units, to close at $1.10.
Declines| The only junior market stocks declining at the end of trading was General Accident with 24,166 shares while losing 5 cents to end at $1.45.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bids higher than their last selling prices and 2 stocks with offers that were lower.
Advancing stocks out pace decliners on JSE 11 to 6
Investment special issue coming shortly
Many investors may not be aware of it, but the local stock market is poised for a huge rally, interest rates are poised to fall and stability return to the forex market. No one really knows exactly when the local stock market will start the powerful run, but it could well be in the second half of this year.
There are big investors out in the market trying to get blocks of shares. Many others pocketed some at attractive prices earlier and stocks are scares as we write. The Investor’s Choice special issue covers, investment opportunities, in real estate, stocks in Trinidad and Jamaica, unit trusts investments and the best performing ones, money market the economy and more and will be off the press in days. Investors Choice is the publication that can best be used as a tool to help investors identify some of the best investments opportunities out there now. To purchase a copy call 926-2204.
More stocks rise than fall on JSE
In Monday’s trading on the Jamaica Stock Exchange, the prices of 5 stocks rose and 4 declined. Only 18 securities changed hands, resulting in 4,848,981 shares trading, valued at $15,622,653.
Main Market| The JSE Market Index declined by 353.60 points, to 70,264.33 and the JSE All Jamaican Composite index moved down by 395.39 points, to close at 77,276.48.
Gains| Stocks recording gains at the end of trading in the main market are Gleaner with 11,000 units closed with a cent up, at $1.11 and Pan Jamaican Investment traded 56,790 shares to close with a gain of 48 cents, at $48.50.
Firm| There were only stocks in the main market to close without a change in price with shares closing, are Cable & Wireless traded 156,117 shares to close at 29 cents, Caribbean Cement with 500 traded closed at $2.20, Jamaica Broilers traded 154,589 shares but the price closed unchanged at $4.57, and Scotia Group with 68,506 shares closed at $18.40.
Preference| Jamaica Money Market Brokers 8.75% preference share 16,475 units to close at $3.03 and Proven Investments 8% preference share traded 2,700 units to close at $5.07.
Declines| The stocks that declined in the main market are Carreras had 80,000 units changing hands to close down 25 cents at $34.75, Jamaica Money Market Brokers with 628,736 shares, declined by 10 cents to close at $6.90, National Commercial Bank with 1,000 close at 50 cents lower at $17.50, Sagicor Group 8,172 close with a 10 cent loss at $8.99.
Junior Market| The JSE Junior Market Index declined by 17.39 points to close at 692.40 as 6 stocks traded with 3 advancing and none declining.
Gains| Stocks recording gains at the end of trading in the junior market are Consolidated Bakeries traded 558,953 shares to close with a gain of 10 cents to close at 80 cents, Lasco Distributors traded 1,000,000 units and gained 10 cents to end at $1.30 and Lasco Manufacturing had 25,000 units changing hands to close 10 cents higher at $1.10.
Firm Trades| The junior market stocks that traded to close at the same price as the day before, are Access Financial Services 10,759 units to close at $10, Blue Power with 27,000 units to close at $9.05, with Caribbean Cream traded 2042684 units at 70 cents each as investors responded well to the 79 percent jump in profits for the first quarter ended May.
Declines| No junior market stocks decline at the end of trading.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bids higher than their last selling prices and 2stocks with offers that were lower.
Jamaican stocks flashing positive signal
At the end of trading on Friday, the Investor’s Choice bid-offer indicator had 9 stocks with bids higher than their last selling prices and only 1 stock with the offer lower.
This is the strongest signal flashed for some time, but investors would need to see a continuation of this positive ratio to say whether this is an indication of what can be expected in the not too distant future. With Bank of Jamaica sending a powerful signal in the forex market that the top for the Jamaican dollar may be nigh, investors could well be sensing that the time for buying stocks may not be far off. What is known is that the majority of market rallies have their genesis in July or August.
Main Market| In Friday’s trading on the Jamaica Stock Exchange the main market indices advanced, with The JSE Market Index rising by 193.15 points to 70,617.93, up more than 700 points for the wee and the JSE All Jamaican Composite index moved up by 215.98 points to close at 77,671.87, to be up 800 points for the week. The prices of 4 stocks rose and 6 declined as 20 securities changed hands, resulting in 8,773,022 shares trading, valued at $20,787,406. KLE Group dominated trading with 7,181,043 units sold by Craig Powell, one of the company’s directors.
Gains| Stocks recording gains at the end of trading in the main market, are Sagicor Group with 586,363 shares, to close with a gain of 4 cents at $9.09 and Sagicor Real Estate Fund, with 20,000 units changing hands, as the price gained 15 cents at to end at $6.25.
Firm| The stocks in the main market to close without a change in price, are Caribbean Cement with 18,248 shares to end at $2.20, Desnoes & Geddes 4,017 units to close at $4.25, Grace Kennedy with 13,251 shares to end at $56, Jamaica Broilers 3,920 units, to close at $4.57, National Commercial Bank 9,160 shares, to end at $18 and Scotia Group with 900 units, to close at $18.40.
Preference| There was no trading in the preference section.
Declines| The stocks that declined in the main market, are Carreras that traded 22,764 shares to close 5 cents down, at $35, followed by Jamaica Producers with 2,062 shares trading, for a fall of 50 cents, in closing at $17.50 and Jamaica Stock Exchange with 250 shares, declined by a cent, to close $1.88.
Junior Market| The JSE Junior Market Index declined sharply by 3.81 percent as it lost 26.75 points to close at 675.01 with 9 stocks traded, with 2 advancing and 3 declining.
Gains| Stocks recording gains at the end of trading in the junior market, are Blue Power with 718,136 units to close up 4 cents, at $9.05 and Lasco Financial with 12,500 units as the price gained 5 cents, to 95 cents.
Firm Trades| Stocks in the junior market that traded to close at the same price as the day before, are AMG Packaging that traded 1,500 shares as the price closed at $3.10, Dolphin Cove with 14,071 units, to close at $8.30, General Accident with 25,000 shares, to end at $1.50 and Jamaican Teas with 22,000 ordinary shares, to close at $3.25
Declines| Stocks declining in the junior market at the end of trading, are Access Financial trading 541 units, to close down $3.50, at $10, Caribbean Producers dropped a cent in trading 117,296 shares, to close at $2.65, and KLE Group lost 3 cents, with 7,181,043 changing hands, to end a an all-time low of 90 cents.
Gary Powell KLE director dumps shares
Craig Powell, a director and second largest shareholder in KLE Group dumped part of his holdings in the floundering group, during Friday’s trading on the Jamaica Stock Exchange.
Stocks and Securities acting as brokers, on behalf of the seller and buyer executed the trade at 90 cents each, for the 7,181,043 units that Powell owned. Powell should pocket just under $6,462,938 from the sale, down substantially, from the $26.6 million value placed on it, at the time of the IPO. The amount represents a portion of 10,693,750 that the company’s prospectus said he held prior to the issuing shares to the public in 2012, and now leaves him holding 3,201,343 units. At the time of the IPO, the amount represented 14.64 percent of the total issued shares, after the issue it would have come down to 10.70 percent, the prospectus stated. Powell’s holding after the public issue was second only to Gary Matalon’s holdings of 13.69 percent. At the time of the public issue Usain Bolt’s Sherwood Holdings Limited held 6,757,000 in the company. KLE’s 2013 annual report, lists Sherwood as still owning them.
Who is Powell?| The KLE prospectus list Powell’s credentials as follows: “Non-Executive Director he was appointed September 8th, 2008. Powell has over twenty-four (24) years’ experience in management and event marketing and promotions. Powell’s work experience spans operations management at the Sunset Jamaica Grande Hotel, regional sales and marketing at Amalgamated Distributors Limited and management at Midel Distributors Limited.
Powell also has a wealth of experience in the event-planning and entertainment industry, having been a principal in many of Jamaica’s premier entertainment attractions and events, such as The Appleton Estate All-Jamaica Grill-Off, which is perhaps the only event of its kind in Jamaica.
Powell also has substantial agricultural investments, which includes the production and export of produce and has an interest in Jamaica Hydroponics Ltd., a company that grows and distributes vegetables to hotels and retail outlets. Jamaica Hydroponics Limited owns and operates the largest hydroponics farm in Jamaica.”
KLE Group has been bleeding badly, having made a loss of $56 million in 2013, it followed that up with a loss of $13 million in the March quarter this year, but this was an improvement on the $17 million loss they suffered in the March 2013 period.
More stocks up than down for 3rd day
In Wednesday’s trading on the Jamaica Stock Exchange the prices of 9 stocks rose and 7 declined, the third consecutive day with more stocks rising than falling as 28 securities changed hands, resulting in 3,679,094 shares trading, valued at $40,219,824.
Main Market| The JSE Market Index gained 396.20 points to close at 70,593.18 and the JSE All Jamaican Composite index moved up by 443.48 points to close at 77,644.19.
Gains| Stocks recording gains at the end of trading in the main market are Carreras with 13,570 shares changing hands, with a gain of 20 cents, to close at $35.20, Kingston Wharves 4,000 shares while gaining of 80 cents to close at $6, Mayberry Investments with only 1,020 units and gained 2 cents, to close at $1.50, Sagicor Group 590,364 units with a gain of 19 cents, to close at $9.09, Sagicor Real Estate Fund 4,930 units as the price gained of 5 cents, to close at $6 and Scotia Investments 16,500 shares, gained 80 cents, to close at $21.90.
Firm| The stocks in the main market to close without a change in price are Berger Paints, with 5,025 shares closing at $1.65, Cable & Wireless 19,705 shares, closing at 29 cents, Ciboney with 5,000 shares to close at 8 cents, Grace Kennedy 8,194 shares, closing at $56, Jamaica Broilers with 9,318 shares, to close at $4.57, Jamaica Money Market Brokers 1,009,508 shares closing at $7 and Radio Jamaica with 9,292 units, closing at $1.28
Preference| Access Financial 9% Short Term Note traded 5,000 units at $100 each, Jamaica Money Market Brokers 8.75% preference share 384,621 units, to close at $3.03 and Proven Investments 8% preference share, 100 units to close at $5.07.
Declines| The stocks that declined in the main market are Caribbean Cement with 15,358 units and closed 5 cents down, at $2.20, Desnoes & Geddes with 600 shares closed at $4.40 with a decline of 5 cents, Kingston Properties 10,000 units, closing at $3.85 after shedding 15 cents, National Commercial Bank with 38,330 units and closed at $18, for a 35 cents fall, Pan Jamaican Investment 3,500 shares to close at $48.02 with a decline of 8 cents and Scotia Group with 1,274,586 shares after losing 21 cents to end at $18.40.
Junior Market| The JSE Junior Market Index declined by 4.96 points to close at 711.65 as 6 stocks traded with 3 advancing and 1 declining.
Gains| Stocks recording gains at the end of trading in the junior market are, General Accident with 100,000 units, with a gain of 5 cents, to close at $1.45, Lasco Distributors 55,007 shares, gained 1 cent to close at $1.20 and Lasco Manufacturing had 26,566 shares changing hands with a gain of 8 cents, to close at $1.08.
Firm Trades| Stocks in the junior market that traded and closed at the same price as the previous trading day are, Blue Power with 1,000 shares, in closing at $9.01 and Lasco Financial 60,000 shares to close at $1.
Declines| Only one stocks declined in the junior market at the end of trading with Consolidated Bakeries having 13,000 units changing hands and closed 10 cents lower, at 70 cents.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with bids higher than their last selling prices and 4 stocks with offers that were lower.
Prices of 9 stocks rose & 4 declined
In Tuesday’s trading on the Jamaica Stock Exchange the prices of 9 stocks rose and 4 declined, 25 securities changed hands resulting in 3,183,862 shares trading, valued at $36,706,402.
Main Market| The JSE Market Index rose by 449.66 points to 70,196.56 and the JSE All Jamaican Composite index moved up by 02.81 points to close at 77200.71.
Gains| Stocks recording gains at the end of trading in the main market are, Desnoes & Geddes with 30,000 units to close 15 cents higher at $4.45 followed by Mayberry Investments with 1,980 units as the price gained 2 cents to end at $1.48, National Commercial Bank 830,055 shares at a 85 cents hike to $18.35, Proven Investments with 10,450 ordinary shares as the price inched up by 0.0001 US cents to 18 US cents, Sagicor Group with 1,148,990 shares gained 10 cents and closed at $8.90, Sagicor Real Estate Fund 84,313 shares with the price rising 10 cents to $5.95, Scotia Group with 250,930 units changing hands, gained 11 cents to close at $18.61 and Seprod with 55,472 shares changing hands and closed 10 cents higher at $10.80.
Firm| Stocks trading in the main market to close without a change in price are Cable & Wireless with 11,981 shares to close at 29 cents, Caribbean Cement 6,244 shares at $2.25, Carreras 2,192 shares at $35, Grace Kennedy 420 shares and closed at $56, Radio Jamaica with 1,790 shares closing at $1.28.
Preference| in the fixed income market, Eppley 9.5% preference share traded 16,800 units to close at $6.10, Jamaica Money Market Brokers 7.50% preference share, 10,000 units at $2, Jamaica Money Market Brokers 8.75% preference share with 176,600 units at $3.03 and Jamaica Teas debenture dote with 3,000 units to trade at $100 each.
Declines| The number of stocks that declined in the main market are Gleaner with 120,000 shares, to close 8 cents lower at $1.10 and Pan Jamaican Investment with 84,470 shares at 40 cents lower to end at $48.10.
Junior Market| The JSE Junior Market Index declined by 8.11 points to close at 706.69 as 7 stocks traded with 1 advancing and 3 declining.
Gains| The only stock that gained at the end of trading in the junior market is Caribbean Producers with 8,845 shares, to close with a gain of 18 cents at $2.83.
Firm Trades| Stocks in the junior market that traded to close at the same price as the day before are, AMG Packaging with 2,500 shares to close at $3.10, Lasco Distributors with 74,000 shares to close at $1.19 and Lasco Financial with 65,500 units to close at $1.
Declines| Stocks declining in the junior market at the end of trading are Honey Bun traded 500 shares but fell 12 cents to $2.90 for a 52 weeks low and Lasco Manufacturing 189,830 shares, as it closed lower by 12 cents at $1.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with higher bids than their last selling prices and 2 stocks with offers that were lower.
Jamaica Broiler paid J$1.18 billion for US operation
Jamaica Broiler paid J$1.18 billion for England Packaging Company Inc, the group’s US acquisition last year and $111 million for the Hamilton Smoke House, a meat processing operation locally.
According to the company’s latest audited accounts, the two new operations contributed revenues of $1.78 billion and profits of $140 million to the group results for 2014. If they were owned from the start of the fiscal year, they would have accounted for revenues of $2.22 billion and profits of $202.6 million.
Segments| Best Dressed Foods contributed sales of $15.47 billion and segment profit of $1.25 billion, for 2014 fiscal year, Hipro-Ace, $8.85 billion in revenues, and segment profit of $798 million. Ethanol made a loss of $66 million from revenues of $578 million, the US operations reported a profit of $333 million from revenues of $4.7 billion and other revenues accounted for $1.25 billion and profit of $453 million.
In the prior year, Best Dressed Foods contributed sales of $13.2 billion and segment profit of $929 million, Hipro-Ace, $8.75 billion in revenues and higher segment profit of $910 million. Ethanol made a profit of $21 million from revenues of $1.73 million, the US operations reported a profit of only $21 million from revenues of $1.7 billion and other revenues contributed $920 million and profit of $335 million. Segment profit is arrived at before group charges and finance cost.
Full year|Jamaica Broiler reported lower profits for the year ended April 2014 from revenues of $30.85 billion, up from $26.5 billion in 2013, for a 16 percent revenue growth. Some of the growth in revenue came from the acquired companies but ethanol robbed the group of a larger revenue increase and better profit.
Gross profit| Gross profit increased from $5.5 billion, to $6.7 billion as gross profit margin climbed from 25.93 percent, to 27.88 percent in 2014. Gross profit grew by 23 percent but administrative cost jumped by nearly a third or $1 billion to negate the improved contribution in gross profit. In the end finance cost rose by $100 million and dragged profit down to $919 million versus $1 billion in 2013, resulting in earnings per share of 79.8 cents. The increase finance cost is due primarily to a shrinkage in cash funds of $1.14 billion and increased borrowings of $757 million.
The stock last traded at $4.57, giving it a PE of 5.7 based on the 2014 results, but IC Insider is forecasting $1.13 per shares earnings for the 2015 fiscal year, which would put the PE at just 4, based on these forecasted earnings.
Proven Investments trades 7M shares
Proven Investments was the dominant trade on the Jamaica Stock Exchange in Monday’s trading session. The company had 6,966,866 ordinary shares with a value of US$1,247,669 changing hands, at 1799 US cents each, down a fraction of a cent for the day.
The prices of 8 stocks rose and 5 declined as 22 securities changed hands, resulting in 8,451,027 shares trading, valued at $151,978,606, for the first trading day of the week.
Main Market| Notwithstanding, the slightly positive advance decline ratio, the JSE Market Index declined by 155.43 points to close at 69,746.90 and the JSE All Jamaican Composite index fell by 173.80 points to 76,697.90 points.
Gains| Stocks recording gains at the end of trading in the main market are, Caribbean Cement with 2,000 shares, to close with a gain of 5 cents at $2.25, Carreras with 62,750 shares changing hands, to close 25 cents higher at $35, Grace Kennedy 2,486 units, to close $1.95 higher at $56. Jamaica Money Market Brokers traded just 4,300 units to gain 12 cents to close at $7 and Supreme Ventures with 5,000 units closed 2 cents up, at $1.97.
Firm| The stocks in the main market to close trading without a price change are, Berger Paints with 3,115 shares while closing at $1.65, Jamaica Broilers with 38,252 units, to close at $4.57, Cable & Wireless 79,061 shares to close at 29 cents, Sagicor Group 643,931 shares at $8.80 and Scotia Group with 79,609 units to close at $18.50.
Preference| Jamaica Money Market Brokers 8.75% preference share, traded 28,450 units with a 1 cent gain to $3.03.
Declines| The number of stocks declining in the main market are Desnoes & Geddes with 137,605 shares in losing 20 cents, to end at $4.30, National Commercial Bank 32,472 shares to close down 45 cents, to end at $17.50 and Radio Jamaica with 17,270 shares, closed a cent down at $1.28.
Junior Market| The JSE Junior Market Index rose by 5.45 points to close at 714.80 as 7 securities traded with 2advancing and 1 declining.
Gains| Stocks recording gains at the end of trading in the junior market are, Lasco Distributors with 14,910 units changing hands as the price gained a cent, to close at $1.19 and Lasco Manufacturing with 2,530 shares traded, with the price moving up 5 cents, to $1.12.
Firm Trades| The stocks in the junior market that traded to close at the same price as the day before are, Access Financial Services with 420 units to close at $13.50, Caribbean Cream had just 10,000 shares changing hands at 70 cents, General Accident 150,000 shares to close at $1.40 and Medical Disposables with 70,000 units to end at $2.
Declines| The only stocks declining in the junior market at the end of trading is Caribbean Producers in trading 100,000 shares and lost 34 cents to end at $2.65.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bids higher than the last selling prices and 4 stocks with offers that were lower.
Gleaner & Sagicor inside trades
The latest in inside trades on the Jamaican stock exchange have been released. These traded can be great guides as to the likely fortunes of a company, this is not always the case and investors will need to make their own assessment of each trade or a series of trades together, to determine what may be about to unfold.
In the latest insider trades a Director of the Gleaner Company purchased 384,900 shares on July 4, 2014 the Company advised the stock exchange.
Sagicor Group in which there has been a series of inside trading in the stock advised that a senior manager sold 50,000 shares on June 26, 2014 under the SJ Executive Long Term Incentive Scheme.
