Main Event jumps TOP 10 stocks

Main Event Entertainment, Jamaica’s recent initial public stock offering, listed on the Jamaica Stock Exchange junior market this past week. The stock traded just 100 units on Wednesday, the opening day for a 30 percent rise from the IPO price of $2.
On Thursday a small amount traded at $3.70 and on Friday the stock shot to $4.70 with 15,722,362 units trading. The price has so far risen by 138 percent and seems to be heading higher.
The one week performance, pushed Main Event out of the IC Insider’s 2017 TOP 10 stocks, for the junior market. Lasco Financial Services entered the listing at ninth spot with potential to gain over 100 percent in the next twelve months based on projected 2018 fiscal year earnings and a market PE of 20.
Access Financial reported an 87 percent improvement in results for the December quarter, with profit of $142 million and $494 million for the nine months versus $296 million in 2015, at Caribbean Flavours, profit rose 31 percent in the December quarter to $23 million and to $43 million for the six months versus $37 million in 2015. ISP Finance reported increased profit for 2016 over 2015 with $39 million generated versus $31 million in 2015, the unaudited report showed healthy gains in the loan portfolio and a reduction in loan losses. Lasco Financial reported a 51 percent increase in profits for the December quarter of $75 million before tax, compared to 2015. Profit before taxation for the nine months’ period rose 21 percent to $199 million, but Lasco Manufacturing suffered a profit set back with lower profits of $113 million in the third quarter compared with $233 million in the December 2015 quarter. Increased profit after tax in the first 6 months, kept the year to date decline, to a moderate level, with profit of $700 million versus $729 million in 2015. The company will still be bringing new products to market in the current quarter that should have a positive impact on its operations during the 2018 fiscal year.