Marlene Street Forrest – Manager of The JSE
The improved position was aided by a write back of bad debt provision of $3.9 million in the latest quarter. After providing for taxation, a loss of $3.2 million was incurred for 2014 year to date versus $4 million in 2013. The bottom line performance, emanated from a $10.5 million revenue increase for the quarter and $23 million for the six months.
Income from cess, fell in both quarters but fee income was up by $11 million in the latest quarter and $20 million for the half year. Of the year to date increase, staff compensation ate up $10 million, pushing this item to $87 million for the six months. Overall expenses rose by $21 million to $182 million of 13 percent for the year to date.
The stock exchange has no borrowed funds with has equity of $558 million. $380 million of its assets are in cash or other forms of investment instruments.
The virtue of this stock is not to be found in the present results. Investors should be quietly acquiring the stock ahead of what is going to be much brighter days for the exchange when trading picks up. No one knows for sure when trading will pick up, but when it does it may be too late to acquire volume at prices under $2 where the stock last traded at.
[…] of trading and should set up a good buying opportunity for investors. The day’s activity on the Jamaica Stock Exchange, resulted in the prices of 9 stocks rising, 11 declining as 27 securities changed hands, ending in […]