Junior market Knutsford Express, enjoyed a very profitable 2014 with a 92 percent increase in pretax profit for the February quarter of $19 million and 45 percent increase for the nine months to $48.5 million.
Contributing to the big jump in profits is a 46.9 percent climb in revenues to $334 million for the nine months and $126.5 million for the quarter, for a 39.6 percent gain. Administrative and other cost rose 33.7 percent in the quarter and 46 percent for the nine months. The earnings translate to 19 cents per share for the quarter and 49 cents for the nine months.
Borrowed funds amount to $23 million with cash funds of $55 million. The company added to its fixed assets which moved from $126 million as of May last year, to $173 million as it expands the fleet of buses on the road and now covers Jamaica with land transportation from north to south and east to west.
The company’s stock traded at $5.60 with a gain of 40 cents after the results were released. the stock remains IC Insider Buy Rated, but it is not expected that there will be much more gains in the short term with a current PE of 8 times 2015 earnings.
Knutsford riding high
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[…] low of $1.30, Honey Bun with 46,734 shares changing hands, closed with a loss of 30 cents at $3.70, Knutsford Express had 518 shares trading to close at $6. Lasco Distributors closed with 283,526 units trading, 15 […]
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[…] at $2.75. General Accident had 7,250 shares changing hands for a gain of 7 cents to end at $1.86, Knutsford Express had 1,000 shares trading, firm at $6, Lasco Distributors traded 15,000 shares to close at $1.80, up […]
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[…] $1.55 for 75,800 units, Caribbean Flavours trading 10,000 shares to close 7 cents higher at $2.60. Knutsford Express traded 1,094 shares at $6.10, Lasco Financial Services traded 18,700 shares and put on 4 cents to […]
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[…] shares changing hands. Jamaican Teas ended with 100,000 shares changing hands, to close at $4, Knutsford Express closed at $6.10 while 4,899 shares changed hands. Lasco Distributors traded only 4,400 shares to […]
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[…] lower at $2. Honey Bun finished trading with just 500 shares to close 11 cents higher, at $2.62, Knutsford Express Services ended with 3,437 shares unchanged at $6. Lasco Distributors traded 289,032 shares, 15 cents lower, […]
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[…] 212,352 units to close at $2 after shedding 18 cents in response to poor first quarter results. Knutsford Express had only 1,000 shares changing hands at $6, Lasco Distributors ended with 1,024,375 shares trading […]
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[…] by profits to the tune of just over three times. Last year Proven acquired a block of shares in Knutsford Express bring their to total holdings to 20,000,002 units or 20 percent of the company and 49 percent of […]
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[…] stocks, in all market segments. Stocks closing at 52 weeks’ high on Thursday are Carreras, Knutsford Express from the junior market, National Commercial Bank, Seprod, Supreme Ventures and Jamaica Money Market […]
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[…] at $2.70 for a 38 cents gain Honey Bun ending with just 1,937 shares trading unchanged at $1.82. Knutsford Express traded at a new high of $6 by adding 20 cents with only 2,580 shares changing hands, Lasco […]
[…] Knutsford Express’ audited report for 2015 shows a big 38 percent surge in profit to $69 million over the $50 million in 2014, from revenues of $454 million, 38 percent more than the $329 million generated in 2014. With that level of revenue increase profit should have grown much faster than it did, and should have been closer to doubling. New routes added could have been a factor as passenger traffic takes time to build up, more importantly, increased cost in a number of areas seems more the culprit. Expenses for 2015 are up 41 percent but excluding $4.58 million of IPO cost included in 2014, the increase would have been 43.5 percent. The overall increase comes against the fact that fuel rose only 12 percent to $70 million and accounted for 19 percent of cost, down from 24 percent in 2014. Excluding fuel, all other costs are up 50 percent over 2014 and 54 percent, excluding the IPO cost, well over the revenue increase of 38 percent. Staff and labour cost jumped 72 percent to $126 million and now accounts for 34 percent of cost up from 28 percent. Telephone cost rose 68 percent to $7.9 million. Rent grew 61 percent to $7.8 million, travelling was up 160 percent to $6 million, advertising and promotion grew only 30 percent to $12.4 million and is one of the items that grew more slowly than revenues. […]