The Mcdaniel family owned Stationery and Office Supplies are heading for listing on the Jamaica Stock Exchange Junior Market with an initial public offering 50,024,100 ordinary shares.
The issue is inclusive of 22,500,000 reserved shares, some of which are reserved for staff at $1.60 per share, with the rest being made available to the general public at $2 per share the offer opening at 9 on July 19th, with the closing set for 4:30 P.M. on July 26th.
The Company reported pretax profits of $53 million in 2016 for earnings of 26.5 cents per share resulting in a PE of 7.5 before tax. Earnings for 2017 is estimated at around 36 cents on a pretax basis or a PE of an attractive 5.6 times 2017 earnings.
Stationery & Office Supplies heads to market
July 4, 2017 by
Buy out interest for Berger Paints?
May 12, 2017 by
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Reports reaching IC Insider.com is that Jamaican based Berger Paints is in play with more than one interested party eyeing the profitable target one source within the financial community stated.
I know as a fact that an offer was made on Thursday but was rejected by Berger as inadequate and would not involve taking over the staff. Another source indicates that the parties are in discussion on terms with the price of $20 that the stock traded at today being within the ball park of where an offer could be at. By next week a clearer picture should emerge our source advises.
One name said to be associated with the one of the offers is Josef Bogdanovich one of the investors involved in the takeover of Hardware and Lumber.
It’s unclear if the planned acquisition by Bogdanovich if successful would be placed under the Hardware and Lumber umbrella which would make economic sense as it would lead to economies of scale in a number of different areas.
The interest comes against the back ground of Berger having recorded the highest level of profit ever at $316 million up from $122 million in 2016, with IC Insider forecasting earnings of $2 per share or $430 million for the year ending March 2018.
Berger closed trading at $6 at the end of 2016 and is up 233 percent for the year to date and is the second best performing main market stock for the year second only to Pulse Investment that is up 360 percent. Berger has been in IC Insider.com TOP 10 since this year and in the TOP 5 Main market from inception on September 9 last year.
Late Easter hits Purity profit
May 12, 2017 by
Consolidated Bakeries proift down in Q1.
Consolidated Bakeries suffered a reversal in fortunes in their first quarter results to March this year, with Easter falling in mid-April.
Easter was celebrated towards the end of March last year resulting revenues for Easter buns being reflected in full during the first quarter. Revenues for the recent quarter fell to $228 million from $261 million last year and profit declining from $22.8 million down to $5.8 million in the latest quarter.
Administrative, Selling and Distribution cost were effectively flat during the quarter versus that of the 2016 period. Gross profit margin ended at just over 36 percent compared to 37 percent in 2016. Earnings per share end at 3 cents in 2017 and 10 cents in 2016.
JSE trading in record territory
May 10, 2017 by
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Berger Paints ended at a 52 weeks’ high of $20 on Wednesday
The main market of the Jamaica Stock Exchange is trading at record levels in the morning session on Wednesday.
The All Jamaica Index crossed over the 260,000 points mark, to hit 260,625.67 points at 11.30 am after adding 3,317.30 points. The Main Market Index is up 3,022.44 to 237,459.51 while the Combined Index jumped 2,631.98 points to 253,640.67. The US Equities Index slipped 6.38 to 212.61 and the Junior Market Index lost 15.43 to trade at 3,252.90.
Stocks with noticeable moves, are Berger Paints that traded at a all-time high of $20, Caribbean Cement traded at $32,a big recovery from yesterday’s low. The rise comes against the back ground of some shareholders slated to meet with management later today, in an attempt to clarify a number of issues relating to the company’s finances. NCBFinancial Group traded at $71.99 and Salada Foods jumped from $6.50 to $8 after the company released results for the half year, showing strong rise in profit.
In the Junior Market, Caribbean Producers rose to $4.50 in response to improved nine months’ results while Jamaican Teas rose to a new high of $5.10, in trading 134,800 shares and Main Event jumped to a new high of $8.
Progress for 138 Student Living
May 10, 2017 by
Student living housing provider, 138 Student Living reported progress in their half year results to March, with net profits of $27M, which represented an over 200 percent improvement compared to the previous year.
For the quarter to March, 138 reports profit of $15.8 million compared to a loss of $9.6 million for the same period in 2016.
Revenues rose to $147 million for the quarter up from $77 million in 2016 and $262 million for the six months versus $124 in 2016.
“Although our net results showed a significant improvement over the corresponding period last year, we have to take note of the fact that an additional 576 rooms (864 beds) were brought into operations on a phased basis during the year which accounted for the increased Revenue. However, as a result of being less than 100% occupied in the additional four blocks, our net profit was less than optimum,” John Lee Chairman of the company reported.
Lee went on to state,“ with the introduction of the four additional blocks, we, as expected, experienced an increase in operational expenses such as staffing and utilities in addition to financing costs.’
Earnings per share came out at 4 cents for the quarter and 6 cents for the half year.
2c for Honey Bun’s shareholders
May 8, 2017 by
Honey Bun, at a Board of Directors’ meeting held on May 3, declared an interim dividend of two cents per share payable on June 1, to shareholders on record as at May 17.
The stock will start trading ex-dividend, on May 15, 2017. The company last paid a dividend of 2 cents on January 9, 2017, in June 2016 the company paid 3 cents per share in dividend. The stocks traded at $7.80 at the close on Friday, following half year’s results that are lower than in 2016.
Honey Bun’s profit down 12%
May 4, 2017 by
One Honey Bun’s Products.
Profit before taxes for the quarter was at Honey Bun fell 12 percent to $45 million, and for the six months to March profit fell 11 percent to $91 million from the prior year.
Profit after tax for the quarter was $40 million versus $49 million in 2016 and for year to date was $77 million compared with $95 million for the same period last year.
Cement sales up in Jamaica
April 27, 2017 by
Caribbean Cement increased sales in Q1 2017.
Sale of cement rose in Jamaica but fell in the twin island state of Trinidad and Tobago in the first quarter of this year, a report from Trinidad Cement (TCL) reported.
According to the company, “Domestic gray cement volume sales declined by 6 percent for the group during the first quarter of 2017.” “The decline mainly reflects a general slowdown in due construction sector in Trinidad and Tobago market, Trinidad Cement advised investors in a release to the Trinidad Stock Exchange.”
“Volumes in Jamaica grew, the company stated, reflecting an increase in tourism and infrastructure activity. At Arawak Cement in Barbados, cement volumes were driven by the residential and commercial sector.”
Juniors up 44 points to record close
April 26, 2017 by
The Junior Market of the Jamaica Stock Exchange ended trading at yet another record closing high with a big gain of 43.64 points, with an increase of 1.36 percent to 3,247.20 points on Wednesday. The market surged over 72 points to a record close on Tuesday.
Key Insurance traded at a 52 weeks’ high of $3.95 while Jamaican Teas was in good demand and ended as the market leader with over 500,000 shares.
Dividend consideration for Berger
April 26, 2017 by
The audited financial s
tatements for Berger Paints Jamaica will be considered at a meeting of the company’s Board of Directors at a meeting scheduled for Friday, April 28.
The board is expected to approve the audited statements for the year ended March 31 and to consider payment of a Dividend.
In 2016 the company made net profit of $122 million compared to $67 million in 2015 and earnings per stock unit 57 cents in 2016 and 31 cents in 2015. A dividend of 20 cents per share amounting to $42.86 million and representing 35 percent of profit for the year ended March 2016 was paid on July 14, 2016 and a dividend of 12 cents per share amounting to $25.7 million or 38.35 percent of 2015 profit was paid in 2015. IC Insider.com forecast is for earnings of $1.30 per share for 2016 and $1.90 for 2018 that should result in dividend of approximately 50 cents per share for 2016 and around 70 cents for 2018.
