Proven Investments profit jumps

Proven Mb siggnProven Investments reports net profit attributable to shareholders of US$1.32 million or 0.24 US cents per share. In 2014 the company reported profit of US$2.25 million or 0.76 cents per share but included net extraordinary gains of US$1.36 million. Of note total comprehensive income is negative $300,000 after recording a loss $1.6 million in unrealized losses.
Revenue for the three months period net of interest cost amounted to US$5.64 million, an increase of 84.45 percent over the three months ended June 2014 of US$3.06. The increased revenue is mainly from the consolidation of Access Financial Service results into the Group.
For the three months ending June 2015, operating expenses increased by 63 percent to US$3.4 million from US$2.1 million in the prior year period as a result of increases in administrative and general expenses, from the inclusion of PWL Transition and AFS in the financials of the Group.
Proven in the commentary accompanying the quarterly results states that earnings per share is 0.24 US cents but in the financials the company reports it as 0.33 US cents. There is no explanation for the difference and no indication in the report of the number of shares issued, a major omission. The company has 551,595,777 issued ordinary shares according to the Jamaica Stock Exchange which means that earnings is 0.2377 US cents per share or 0.95 US cents for the year. The stock at last traded price of 18.5 US cents is selling at 20 times earnings based on the first quarter results annualised in a market that has an average of 6.5 times this year’s earnings.

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  1. […] at $30. Supreme Ventures gained 5 cents and closed at $5.25 with 28,335 units changing hands and Proven Investments ordinary share traded 71,545 units at 21.75 US cents after rising by 0.75 […]

  2. […] closed at $18.51, Supreme Ventures gained 4 cents to end at $4.70 with 70,820 units changing hands, Proven Investments ordinary share traded 40,730 units at 22 US cents, down from 22.99 US cents. Jamaica Public Service […]

  3. […] 17,049 units trading at $13, Supreme Ventures ended at $4.66 with 179,175 units changing hands and Proven Investments ordinary share traded 28,400 units at 22.99 US […]

  4. […] 65 cents, helping the junior market to lose ground on Tuesday. The record of the company showed Proven Investments as the holders of the exact amount traded, representing 20 percent of the shareholdings with their […]

  5. […] Proven Investments rose 0.99 US cents had 145,550 shares trading at 22.99 US cents, followed by Proven Investments 8% preference share with 17,675 units trading at $5.10 with a loss of 40 […]

  6. […] closing at $20.50, Supreme Ventures fell 30 cents to end at $4.35 with 61,988 units changing hands. Proven Investments had 25,000 shares trading at 22.9 US cents, followed by Jamaica Money Market Brokers 7.50% […]

  7. […] had 42,660 shares changing hands at $27, Seprod gained 6 cents in trading 14,880 units at $18.61. Proven Investments closed with 16,020 units changing hands at 23 US cents, Jamaica Money Market Brokers 7.50% […]

  8. […] hands, Supreme Ventures had 29,320 units changing hands but the price slipped 19 cents to $4.70. Proven Investments ended at 22.9 US cents with 108,528 changing hands, Jamaica Money Market Brokers 8.50% preference […]

  9. […] Proven Investments profit jumps Proven Investments reports net profit attributable to shareholders o… […]

  10. […] by 81 cents. Scotia Investments gained 50 cents to close at $27.50 as 50,000 units traded, and Proven Investments ordinary share, closed with a rise of 1.9 US cents, with 445,000 units traded, to end at 23.9 US […]

  11. […] at $16, Supreme Ventures ended at $4.20 with 162,100 units changing hands and gained 39 cents and Proven Investments ordinary share, closed with a loss of 1.98 US cents, with 442,900 units traded, to end at 22 US […]

  12. […] by 50 cents, Supreme Ventures ended at $3.81 with 78,000 units changing hands and lost 9 cents and Proven Investments ordinary share closed with a small loss 67,987 units traded to end at 23.98 US […]

  13. […] shares trading at $25 after falling $1. Scotia Investments ended with 20,000 shares trading at $26, Proven Investments ordinary share traded 170,644 units with a loss of 0.50 cent to end at of 24.5 US cents and Supreme […]

  14. […] Proven Investments profit jumps Proven Investments reports net profit attributable to shareholders o… […]

  15. […] with a 5 cents rise, Scotia Group added 10 cents in ending at $24 while 164,793 shares traded and Proven Investments lost 2 cents with 25,000 units changing hands share to close at 20 US […]

  16. […] to end at $13, Scotia Group added 25 cents in ending at $23.75 while 149,247 shares traded and Proven Investments ordinary share close at 22 US cents after gaining 2.25 cents with 173,100 units changing […]

  17. […] securities totalling 3,227,759 units, valued at $39,616,392 changing hands, in all market segments. Proven Investments closed with 1.24 million units with a value of US$244,000 changing hands, to be the market leading […]

  18. […] 8.75% preference share traded 231,855 shares at a 52 weeks low of $2.49 after losing 16 cents and Proven Investments preference share traded 59,200 units at […]

  19. […] at $23.91, Supreme Ventures had 100,000 shares changing hands at $3.74, for a loss of 6 cents. Proven Investments ordinary share traded 171,659 units at 20 US cents, after rising 2 cents and Jamaica Money Market […]

  20. […] with a loss of 4 cents at $23.81, Scotia Investments jumped $3.50 to $28 but with only 1,000 units, Proven Investments ordinary share traded 451,800 units at 20 US cents,Jamaica Money Market Brokers 7.25% preference […]

  21. […] Proven Investments profit jumps Proven Investments reports net profit attributable to shareholders o… […]

  22. […] while losing 60 cents. Supreme Ventures traded 210.509 shares but lost 24 cents in ending at $3.90, Proven Investments ordinary share traded 91,890 units at 19.9 US cents after rising 0.004 cents and Jamaica Money […]

  23. […] Wireless with 1,700,00 units at 48 cents, Seprod traded 1,813,740 at $14 while losing 60 cents, Proven Investments 86,890 units trading was at 19.9 US cents. In the junior market Lasco Distributors with 253,000 […]

  24. […] Carreras traded 379,430 at $50.25, National Commercial Bank had 136,629 units trading at $30, Proven Investments 1,208,025 units trading was at 19.5 US cents and Scotia Group have 134,944 shares trading at […]

  25. […] to buy 800 shares. Scotia Investments lost $2.40 and ended at $24.10 while 1,000 units traded. Proven Investments ordinary share, traded 5,754 units at 20.11 US cents, down from 21 US cents Supreme Ventures ended […]

  26. […] with a loss of 20 cents at $23.80, Scotia Investments ended at $27 while only 159,004 units traded. Proven Investments ordinary share, traded 15,346 units at 21 US cents, Supreme Ventures added 50 cents to end at $4 […]

  27. […] at 21 US cents, Jamaica Money Market Brokers 7.50% preference share traded 53,016 units at $2 and Proven Investments 8% preference share traded 135,594 units at […]

  28. […] 60 cents at $23.76, Scotia Investments ended down 79 cents at $27 while only 1,000 units traded and Proven Investments ordinary share, traded 15,245 units at 21 US cents and Jamaica Money Market Brokers 7.50% preference […]

  29. […] traded, Supreme Ventures ended with 21,362 stock units trading, with a gain of 2 cents to $3.42 and Proven Investments ordinary share, traded 23,350 units at 21 US cents for a loss of 1 US […]

  30. […] 383,750 shares at $7.95, National Commercial Bank traded 26,130 shares to end lower by $1 to $29, Proven Investments ordinary share traded 225,030 units at 19.5 US cents, up 0.50 cents. Sagicor Group with 17,030 […]