Pan-Jamaican Investment Trust will consider the payment of a third interim dividend for the year 2014 at a meeting scheduled for August 12, 2014.
Interim dividends of 60 cents per share was paid on June 20 and on March 31, this year.
Cargo Handlers advised that at a meeting scheduled for August 12, 2014, the Directors will consider the payment of an interim dividend for 2014. Previously, Cargo Handlers paid a dividend of 50 cents per share on March 6, this year. In 2013, the company paid a dividend of $1 per share on March 28, 2013.
Pan Jam & Cargo Handler considering dividends
August 6, 2014 by
Caribbean Flavours dominates trade
August 5, 2014 by
In Tuesday’s trading on the Jamaica Stock Exchange, the prices of 10 stocks rose and 9 declined as 29 securities changed hands, resulting in 48,146,012 shares trading, valued at $138,990,317. Junior market, Caribbean Flavours with 44,078,122 units trading, valued at $121,212,820, was the dominant trade although there were only 4 different sets of trades in the stock with two of 22 million shares each.
Main 
Market| The JSE Market Index fell by 420.68 points to 72,048.37 and the JSE All Jamaican Composite index dropped 470.39 points, to close to 79,271.36.
Gains| Stocks with gains, volume and last traded prices at the close of the main market, are Cable & Wireless with 3,108,389 shares, as the price gained 4 to close at 34 cents, Carreras with 259,900 shares changing hands, closed 50 cents higher at $34.50, Grace Kennedy 69,691 shares traded with an increase of $2.50 to $59, Pan Jamaican Investment with 100 units gained 6 cents and ended at $48.08 and Scotia Investments had 26,885 shares traded, with a gain of 60 cents t0 $20.60.
Firm| The stocks with volume and last traded prices in the main market to close without a change in price, are Caribbean Cement with 100 shares closing at $2.50, Jamaica Broilers with 9,655 shares to close at $4.57, Jamaica Money Market Brokers with 20,629 ordinary shares at $7, Jamaica Producers 2,593 shares at $17.50, Mayberry Investments 1,020 units at $1.55 and Proven Investments 5,366 US dollar ordinary share, at 18 US cents.
Declines| The stocks with losses, volume and last traded prices, at the end of trading in the main market, are Berger Paints with 3,500 in losing a cent to end at $1.65, National Commercial Bank with 25,622 shares, lost 14 cents to $18.26, Sagicor Group, lost a cent in trading 4,473 shares at $9.25, Sagicor Real Estate Fund saw 115,150 shares changing hands, with a 15 cents fall to $6.50, Scotia Group shed 50 cents while trading 15,522 units at $19 and Supreme Ventures with 96,198 shares lost 20 cents to end at $1.75, for a new 52 weeks’ low.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 23,413 units with the price unchanged at $3.
Junior Market| The JSE Junior Market Index gained 15.28 points to close at 624.72 as 10 stocks traded, with 5 advancing and 3 declining.
Gains| Stocks recording gains at the end of trading in the junior market, are Access Financial with 4,722 shares, the price gained $1.03 to $10, Caribbean Flavours traded, 44,078,122 units and closed at $2.75, while gaining 30 cents in the process. Lasco Distributors with 48,000 shares, gained 4 cents to $1.05, Lasco Financial traded 54,700 units at 3 cents higher at 93 cents and Lasco Manufacturing with 38,000 units, was up 6 cents to 86 cents.
Firm Trades| Stocks in the junior market that traded to close at the same price as the day before, are Cargo Handlers with 2,312 shares at $14 and General Accident with 3,050 shares at $1.35.
Declines| Stocks declining in the junior market at the end of trading, are Blue Power with 5,000 units as the price lost 5 cent to $9.05, Caribbean Producers with 1,500 shares, with a 7 cents drop, to $2.38 and Dolphin Cove with 4,000 shares, as it shed 85 cents to $7.55.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 12 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower.
Only 13 securities trade on the JSE
July 4, 2014 by
Only 3 stocks rose in Friday’s trading on the Jamaica Stock Exchange and 6 declined as a mere 13 securities changed hands resulting in 2,903,200 shares trading valued at $40,743,114.
Main Market| The JSE Market Index dropped by 589.94 points to 69,902.33 and the JSE All Jamaican Composite index moved down 659.67 points to close at 76,871.70
Gains| Stocks recording gains at the end of trading in the main market are Carreras with 107,250 shares as the price gained 25 to $34.75 and Gleaner 384,900 units with an 8 cents rise to $1.18.
Firm| The stocks in the main market to close without a change in price are Jamaica Broilers with 3,728 units to close at $4.57 and Proven Investments ordinary share traded 20,000 units at 18 US cents.
Preference| Jamaica Money Market Brokers 8.75% preference share traded 811,504 units at $3.02 and Jamaican Teas debenture note saw 19,000 units trading at $100 each.
Declines| Stocks that declined in the main market are National Commercial Bank with 149,678 units, closing 5 cents lower at $17.95, Pan Jamaican Investment with 200,375 shares, the price slipped 50 cents to $48.50, Sagicor Group with 237,115 shares, the price declined by 10 cents to end at $8.80, Sagicor Real Estate Fund traded 23,000 shares to lose 15 cents to end at $5.85 and Scotia Group with 927,200 shares lost 50 cents to close at $18.50.
Junior Market| The JSE Junior Market Index edged up by 1.08 points to close at 709.35 as only 2 stocks traded with 1 advancing and 1 declining.
Gains| Lasco Manufacturing with 37,450 shares was the only stock that gained at the end of trading in the junior market, with the price inching up a cent, to close at $1.07.
Declines| Cargo Handlers lost a cent in trading 1,000 shares, to close at $14 and was the only stock in the junior market that traded to close at a lower price at the end of the trading day.
Firm Trades| No stock declined in the junior market at the end of trading.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with bids higher than their last selling prices and 2 stocks with offers that were lower.
Market records more gains
May 29, 2014 by
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In Thursday’s trading on the Jamaica Stock Exchange the prices of 10 stocks rose, 5 declined as 25 securities traded resulting in only 1,688,152 shares changing hands valued at a mere $4,985,668.
Main Market| 6 companies in the main market recorded gains following yesterday’s moderate recovery, 4 declined with the indices recording moderate gains as the JSE Market Index rose 462 points to 70,857.65 and the JSE All Jamaican Composite index recovered 516.61 points to close at 77,939.93.
Gains| Stocks recording gains at the end of trading in the main market are Cable & Wireless with 230,108 units changing hands with a cent increase to close at 28 cents, Caribbean Cement 14,250 shares to close up by 34 cents at $2.85, Carreras 500 shares to close with a gain of 50 cents to $34, Desnoes & Geddes 100 shares to close at $4.45 with a 15 cents gain, Grace Kennedy with 6,600 units closed at $54.01, just a cent ahead of the previous day’s close and Scotia Investments 17,000 shares to close with an increase of $2.49 to end at $25.49.
Firm| There were only 5 stocks in the main market to close without a change in price with Jamaica Broilers trading 18,000 shares in closing at $4.75, Jamaica Money Market Brokers 25,000 units and closed at $7, Jamaica Money Market Brokers 7.50% preference share, traded 50,000 units and closed at $2 and the 8.75% preference share 152,194 units and closed at $3.03 as National Commercial Bank put in 32,397 units and closed at $17.50.
Declines| The number of stocks that declined in the main market are Jamaica Money Market Brokers 8.50% preference share with 10,000 units as the price closed with a loss of a cent to end at $3.50, followed by Mayberry Investments with 428,310 shares as the price closed at $1.65 with a 6 cents decline for a new 52 weeks low, Sagicor Group with 12,555 shares to close at $8.90 for a 10 cents drop and Scotia Group 37,016 units as the price ended at $19 with a fall of 30 cents.
Junior Market| The JSE Junior Market Index rose by 2.74 points to close at 723.04 as 10 stocks traded with 4 advancing and one declining.
Gains| Stocks recording gains at the end of trading in the junior market are Blue Power with 10,202 units to close at $9.10 with an increase of 9 cents, Caribbean Producers with 30,388 units changing hands to close at $2.75 for 10 cents gain, Lasco Financial 5,915 shares as the price rose 2 cents to end at $1.15 and Lasco Manufacturing with 313,059 units to close at $1.10 with a 5 cents gain.
Firm Trades| 5 stocks in the junior market traded to close at the same price as the day before with Cargo Handlers trading 4,227 units to close at$14.01, Derrimon Trading with 20,450 units to finish at $2.28, Dolphin Cove 1,500 shares to close at $8.50, Lasco Distributors exchanging 126,839 shares to close at $1.35 and Medical Disposables closing with 121,542 shares at $2.
Declines| Jamaican Teas with 20,000 shares changing hands while losing 28 cents as the price settled at $3.21 was the only stock declining in the junior market at the end of trading.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than the last selling price and 5 stocks with offers that were lower.
Advancing stocks ahead at JSE
May 15, 2014 by
In Thursday’s trading on the Jamaica Stock Exchange, the prices of 9 stocks rose and 4 declined as 27 securities traded resulting in 2,717,621 shares changing hands valued at a mere $4,692,842.
Main Market| Six companies in the main market advanced and only two declined as the indices inched forward with the JSE Market Index closing up by 84.04 points to 73,062.97 and the JSE All Jamaican Composite index gaining 93.97 points to close at 80,405.85.
Gains| Stocks recording gains at the end of trading in the main market are Caribbean Cement that traded 100 shares to close with a gain of a cent, at $3.51, Desnoes & Geddes gained 10 cents to close at $4.50 with 373,319 units changing hands, Jamaica Money Market Brokers with only 322 units to close at $7.41 for a 6 cents rise, Pan Jamaican Investment with 1,819 shares to close at $48.60, up by 40 cents, Sagicor Group with 20,627 shares in closing at $9.50 for a gain of 15 cents and Scotia Group 32,000 shares in closing with a 30 cents gain at $20.
Firm| Stocks in the main market to close without a change at the close of the market are Berger Paints which traded with 7,799 units and closed at $1.67, Cable & Wireless 1,584,764 shares to close at 30 cents, Carreras 100 units to close at $34.75, Jamaica Broilers 6,669 shares to close at $4.71, Jamaica Producers 4,100 stock units, to close at $18.26, Kingston Wharves 2,000 shares to close at $5, Mayberry Investments, 12,239 shares to close at $1.80, National Commercial Bank 2,200 stock units to close at $18, Proven Investments 2,000 ordinary shares to close at 18 US cents, Proven Investments 8% preference share, 76,800 units to close at $5.09, Sagicor Real Estate Fund 4,417 units to close at $6.60 and Supreme Ventures 9,835 shares to close at $2.10.
Declines| The number of stocks that declined in the main market are Ciboney with 9,880 shares while losing 2 cents to end at 10 cents and Hardware & Lumber with 20,015 shares to close at $10.20 with a fall of $1.60.
Junior Market| The JSE Junior Market Index edged up by 0.46 points to close at 733.31 as 7 stocks traded with 3 advancing and 2 declining.
Gains| Stocks recording gains at the end of trading in the junior market are Caribbean Cream trading 70,000 units to close up a cent at 73 cents followed by Lasco Financial Services with 20,350 shares to close at $1.11 with a rise of 3 cents and Lasco Manufacturing 109,110 units to close at $1.16, with 16 cents gain.
Firm Trades| 2 junior market stocks traded with the price unchanged at the end of trading with KLE Group having 36,933 units changing hands at 93 cents and Lasco Distributors 249,100 shares to close at $1.35.
Declines| Stocks declining in the junior market at the end of trading are Cargo Handlers with 223 units at $14.01 as the price slipped by 30 cents and Caribbean Producers 60,900 shares to close at $2.75 with the price ending lower by 25 cents.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than the last selling price and 8 stocks with offers that were lower.
JSE hits 2014 low
May 9, 2014 by
In Friday’s trading on the Jamaica Stock Exchange the prices of 3 stocks rose and 7 declined as 22 securities traded resulting in 10,829,685 shares changing hands valued at $38,848,598.
Main Market| The prices of only 2 companies in the main market rose and 6 declined as the indices dropped to the lowest level for the year, with the JSE Market Index erasing 1,032.29 points to 72,026.03 and the JSE All Jamaican Composite index dropping by 1,154.27 points to close at 79,246.38. The previous low for the JSE All Jamaica Index was at 79,357.40 on December 27, last year.
Gains| Stocks recording gains at the end of trading in the main market are Desnoes & Geddes with 500,000 shares to close with a gain of 20 cents at $4.50 and Jamaica Money Market Brokers with 24,100 ordinary shares changing hands, gained a cent to close at $7.31.
Firm| There were 7 stocks in the main market closing without a change in price as Berger Paints with 19,500 shares closed at $1.67, Caribbean Cement traded 5,062 units and closed at $3.50, Carreras traded 10,000 units to close at $33.65, Gleaner 100,000 units in closing at $1.10, Grace Kennedy 394 units at $56, National Commercial Bank 467,250 shares at $18 and Salada with 6,065 units to close at $8.
Declines| The number of stocks declining in the main market are Cable & Wireless with 3,189,689 units while losing 5 cents to end at 30 cents, Jamaica Broilers with 1,933,332 units changing hands to close at $4.80 as the price fell 5 cents, Pan Jamaican Investment 14,874 shares to close at $48.06 for a fall of 44 cents, Sagicor Group 156,333 units to close at $9 with a loss of 10 cents, Scotia Group 470,716 shares to close at $19.50 as the price lost 56 cents and Seprod with 4,300 units as the price declined by 45 cents to close at $10.55.
Junior Market| The JSE Junior Market Index declined by 0.59 points to close at 746.24 as 5 stocks and one bond traded with none advancing and 2 declining.
Gains| There were no stocks recording gains at the end of trading in the junior market at the close of the week.
Firm Trades| The stocks in the junior market that traded to close at the same price as the previous trading day are 5,603 Cargo Handlers shares traded at $14.35, Consolidated Bakeries with 70,230 units to close at $1.10, 66,600 units of Eppley 9.5% preference share changing hands at $6.02, Lasco Distributors had 39,000 units traded to close at $1.35, Lasco Manufacturing traded 2,309,867 shares in closing at $1.20 and 9,000 Access 9% Unsecured Short Term Notes traded to end at $99.50.
Declines| Only one stock declined in the junior market at the end of trading with Lasco Financial with 1,436,770 units changing hands with a loss of 5 cents to close at $1.20.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 8 stocks with the bid higher than the last selling price and 10 stocks with offers that were lower.
Cargo Handlers’ solid quarter
February 7, 2014 by
For the December quarter 2013, revenues excluding interest income, grew by 23 percent for the Montego Bay based and junior listed Cargo Handlers and profit reached $27.99 million, up from $22 million in 2012. Total revenues amounted to $51 million, up from $41.6 million in the previous year’s quarter and operating revenues grew by 9 percent to $44.3 million. Operating expenses grew from $20 million to $23.4 million, an increase of 15 percent.
Earnings per share rose from 53 cents to 67 cents in the quarter, an increase of 26 percent. Earnings for 2014, which ends in September, should be close to $3 per share. For the year to September 2013, the company earned $2.27 per share.
The results do not yet reflect the proposed acquisition of the tanker operating company for transporting fuel. The company indicates that the acquisition should be concluded during February. A deposit of $69 million against the purchase was made and is included in receivables on the balance sheet in December at $95 million, an increase over $19 million as of September 2013. Cash is down from $131 million in September to $69 million at the end of December. The company is debt free.
The purchase will be fully in cash so there should be further depletion of cash when the deal is concluded. There should be some administrative cost savings as some of the functions now done by the transport company can be transferred to Cargo Handlers thus saving on cost.
A dividend of 50 cents per share was just declared by the company and is payable in March 6, 2014.
Related posts | Cargo Handlers announces acquisition | Profits up at Cargo Handlers
Cargo Handlers announces acquisition
December 10, 2013 by
Cargo Handlers Limited advised that a resolution was passed by the Board of Directors at a meeting held on November 28, 2013 to invest in the Bulk Liquid Carrier Petroleum Limited. The company transports petroleum products across the island. CHL advised that this investment is expected to add $150 million in revenue.
Cargo Handlers just reported earnings of $85 million for the year ended September this year and ended up with cash of $131 million.
Related posts | Sexiness no, performance yes | Profits up at Cargo Handlers
Sexiness no, performance yes
December 5, 2013 by
Cargo Handlers is by no means a sexy company but what it lacks in sexiness is made up from performance.
For the year just ended to September, the company out of Montego Bay reported revenue increase of 31 percent over 2012 and a 32 percent increase in profit to reach $95 million, an increase on the $64.6 million in 2012 which was up 24 percent on 2011. In the year just concluded, profit was negatively affected by a million dollar charge for damaged cargo compared to $356,000 in the prior year, administrative cost rose just over 20 percent to $13.8 million and other operating cost was up at a much faster pace at 28 percent to reach $74.75 million.
Return on equity rose from 64 percent in 2012 to 75 percent in 2013 with equity being $137 million at year end and $72 million at the end of 2012. Dividend paid during the year amounted to $63.3 million almost twice the $36 million paid in 2012. The 2013 payment is 74.5 percent of profits or a return on the stock price of $12 at the start of the fiscal year of 14 percent. The high level of payout may have been tied to the higher tax that was applied to dividends starting in April this year rather than a decision to effect a permanent increase. In 2012, the payout ratio was just under 56 percent or 96 cents per share.
The audited financial statements indicated by way of a note that by resolutions dated 19 December 2012 and 17 February 2013, the Board of Directors approved the payment of interim dividends in the amounts of $0.68 and $1.00 per share respectively. In the prior year, resolutions dated 15 December 2011 and 2 July 2012 approved interim dividend payments of $0.64 and $0.32 per share respectively. Based on the simplicity of the operation, there is hardly any need to stock pile cash. As such investors can expect a healthy payout each year, thus providing a good source for income.
The company ended up with cash of $131 million at the end of the year and total current assets of $150.7 million and current liabilities stood at only $20 million. The company owes related parties $30 million and related parties owe them $25 million at the end of September.
Stock outlook | Profits may have grown well in the year just ended with some of the increase flowing from the change in value of the local currency. How much gains can be expected going forward is unsure. Suffice to say, the stock looks like a reasonable income provider.
Related posts | Profits up at Cargo Handlers | Cargo Handlers profits up 38%
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