Stocks mostly fell in trading closed on Monday, Jamaica Stock Exchange Junior Market, with the volume traded declining 15 percent and the value traded falling 24 percent less than below Friday’s trades.
Market activity led to 38 securities trading compared to 36 on Friday and ended, with 11 rising, 20 declining and seven, closing unchanged.
The Junior Market Index shed 34.29 points to 3,278.21.
The PE Ratio, a measure used to compute appropriate stock values, averages 12.4 based on ICInsider.com’s 2021-22 earnings forecast.
Trading ended with 6,492,921 shares changing hands for $22,067,491 down from 7,659,422 units at $28,865,188 on Friday. Jamaican Teas led trading with 49.8 percent of the volume traded, after an exchange of 3.24 million shares, followed by Lumber Depot 18.9 percent, with 1.23 million units and Future Energy Source 10.4 percent after 677,720 shares changed hands.
Trading averaged 170,866 units at $580,723 in contrast to 212,762 shares at $801,811 on Friday. Trading month to date, averages 191,248 units at $688,279. September closed with an average of 207,032 units at $668,264.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and two with lower offers.
At the close, AMG Packaging declined 7 cents to $1.63 in an exchange of 19,888 shares, Blue Power shed 12 cents in closing at $3.25, with 19,781 stock units crossing the exchange, Cargo Handlers fell 19 cents to $7.60 after trading 1,000 units. Caribbean Cream dropped 60 cents to $6.40 with an exchange of 10,000 stock units, Caribbean Flavours lost 7 cents to end at $1.91 in switching ownership of 16,227 stock units, Consolidated Bakeries increased 10 cents to $1.80 while exchanging three shares. Dolphin Cove fell $1 to $9 after exchanging 2,246 units, Express Catering lost 23 cents to end at $5.40 in trading 2,600 stocks, Fontana shed 15 cents in closing at $6.35 in trading 45,705 units. Fosrich climbed 6 cents to close at $8.13, with 15,125 stock units changing hands, Future Energy Source declined 5 cents to $2.65, with 677,720 shares clearing the market, Honey Bun dropped 43 cents to $8.22 trading 22,677 stocks. iCreate fell 5 cents to 75 cents, with 30,100 units crossing the market, Indies Pharma rallied 42 cents in closing at $3.65 with the swapping of 18,292 stock units, Jamaican Teas advanced 33 cents to $4.33 in trading 3,235,514 stocks. Jetcon Corporation rose 13 cents to $1.14 with 165,000 shares crossing the market, Lasco Distributors gained 40 cents to close at $3.90 while exchanging 6,631 stocks,
Lasco Financial declined 15 cents to $3 in exchanging 109,786 units. Lasco Manufacturing rallied 7 cents to $4.57 with an exchange of 28,959 shares, Limners and Bards shed 15 cents to $3.35, with 75,791 stock units changing hands, Medical Disposables lost 15 cents to end at $5 after 1,083 units crossed the exchange and Stationery and Office Supplies popped 15 cents to $6.64 after trading 500 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market rose into October
Jamaica Stock Exchange Junior Market started October off to a good note, with the market index closing higher but only after more stock declined than gained at the close on Friday, with the volume and value of stocks traded falling 30 percent and 31 percent respectively, from Thursday trades.
Market activity led to 36 securities trading compared to 34 on Thursday and ended with 10 rising, 18 declining and eight, closing unchanged.
The Junior Market Index rose 16.15 points to 3,312.50. The PE Ratio, a measure used in computing appropriate stock values, averages 12.7 based on ICInsider.com’s 2021-22 earnings forecast.
A total of 7,659,422 shares traded for $28,865,188 down from 11,102,954 units at $41,080,349 on Thursday. Jamaican Teas led trading with 61.4 percent of total volume after 4.70 units of the company’s million shares were traded, followed by Lumber Depot 9.9 percent with 758,308 units and Future Energy Source traded 9.5 percent, with 730,160 shares.
Trading averaged 212,762 units at $801,811 down from 326,557 shares at $1,208,246 on Thursday. Trading in September closed with an average of 207,032 units at $668,264.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than their last selling prices and seven with lower offers.
At the close, Access Financial popped $2.90 to $20 with the swapping of 2 shares, AMG Packaging climbed 9 cents to $1.70, with 185,800 stock units crossing the market, Blue Power rallied 40 cents to $3.37 in switching ownership of 25,998 units. Cargo Handlers rose 79 cents to $7.79 after exchanging 447 stocks, Caribbean Cream spiked $1.01 to $7 while exchanging 50,966 shares, but the stocks had 100000 units on offer at $6.50 at the close, Consolidated Bakeries fell 10 cents to $1.70, with 2,488 stocks crossing the exchange. Dolphin Cove gained 14 cents to end at $10, with 958 stock units changing hands, Elite Diagnostic dropped 5 cents to close at $3 after exchanging 247,582 units, Fontana lost 9 cents in closing at $6.50 with an exchange of 33,339 stocks. Future Energy Source declined 16 cents to $2.70 in exchanging 730,160 shares, General Accident rose 15 cents to $5.45 1n trading 3,693 stock units, Indies Pharma shed 52 cents to end at $3.23 with 1,070 units changing hands. ISP Finance popped $1.50 to close at $25, with 500 stock units clearing the market, Jamaican Teas shed 10 cents to $4 in an exchange of 4,701,946 units, Jetcon Corporation lost 15 cents after ending at $1.01 and trading 19,000 stocks. 
Lasco Distributors fell 49 cents to $3.50, with 23,144 shares crossing the market, Lasco Manufacturing declined 30 cents to end at $4.50 after swapping 22,583 shares, Limners and Bards dropped 35 cents to $3.50 in trading 15,895 stocks. Mailpac Group fell 6 cents to $3.84 after exchanging 418,371 stock units, Main Event lost 8 cents to close at $4.20 while trading 1,037 units and Medical Disposables climbed 15 cents to $5.15 after 46,950 units crossed the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Widespread trading of Junior Market stocks
Trading remained buoyant on Wednesday, with all but one stock contributing to a moderate rise in the volume of stocks trading, with a slightly higher value than on Tuesday, resulting in a slight decline in the market index at the close of market activity on Jamaica Stock Exchange Junior Market.
Jamaican Teas traded the most volume on Wednesday.
At the close, 41 securities traded, up from 33 on Tuesday and ended with 20 rising, 16 declining and five closing unchanged. At the close, the Market Index slipped 6.06 points to 3,257.36. The PE Ratio, a measure used in the computation of appropriate stock values, averages 12.2 based on ICInsider.com’s 2021-22 earnings forecast.
Trading ended with 5,853,269 shares changing hands for $21,419,953 versus 5,606,602 units at $20,018,498 on Tuesday. Jamaican Teas led trading with 36.5 percent of total volume trading after 2.14 million shares, followed by Lumber Depot 14.2 percent, with 828,894 units and Future Energy Source 9.5 percent, with 555,590 shares.
Trading averaged 142,763 units at $522,438, down from 169,897 shares at $606,621 on Tuesday and month to date, an average of 201,678 units at $644,075, compared to 205,042 units at $651,021 on Tuesday. August closed with an average of 464,471 units at $1,258,652.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and four with lower offers.
At the close, Access Financial dropped 75 cents to close at $18, after trading 10,319 shares, AMG Packaging gained 19 cents to end at $1.95 in switching ownership of 10,150 stock units, Blue Power lost 35 cents to $3, trading 99,052 units. CAC 2000 dropped 50 cents to end at $8 with an exchange of 200 stocks, Cargo Handlers popped 50 cents in closing at $7 with the swapping of 56,796 stocks, Caribbean Cream advanced 7 cents to $5.99 while exchanging 57,650 stock units. Dolphin Cove fell 29 cents to $9.86 after trading 2,421 shares, Elite Diagnostic popped 25 cents to $3.25, with 416,028 units crossing the market, Fontana climbed 20 cents in closing at $6.50, with 119,211 stock units crossing the exchange. Fosrich rallied 8 cents to end at $8.18 in an exchange of 110,110 units, GWest Corporation shed 5 cents to 90 cents in trading 9,248 shares, Honey Bun dropped 36 cents to close at $8.54 in exchanging 39,989 stocks. Indies Pharma rose 19 cents to end at $3.39 after trading 24,359 stocks, Iron Rock Insurance increased 10 cents to $4.10, after exchanging 1,000 stock units, Jamaican Teas spiked 42 cents to $3.92, with 2,137,175 units clearing the market. Jetcon Corporation rallied 11 cents to $1.16, with 100 shares changing hands, Knutsford Express rose 29 cents to $6.99, with an exchange of 2,865 units, Lasco Distributors rallied 30 cents to $3.90 in switching ownership of 4,988 shares. 
Lasco Manufacturing shed 20 cents to end at $4.50, with 33,084 stock units clearing the market, Mailpac Group fell 10 cents to $3.65 while exchanging 499,531 stocks, Main Event popped 10 cents to $4.30 in trading 32,995 stocks. Medical Disposables declined 15 cents to $4.85 with 208,597 shares changing hands, Paramount Trading fell 15 cents to 95 cents, with 125,100 stock units crossing the market, Stationery and Office Supplies popped 20 cents to $6 after trading 7,000 units and tTech shed 25 cents in closing at $4.10 with the swapping of 1,314 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market bounces on Monday
Trading picked up sharply on Monday, with the value of stocks traded surging, rising 262 percent, leading to a 56 percent rise in the volume of stocks traded over Friday and a rise in the Jamaica Stock Exchange Junior Market index.
Like Friday, 33 securities traded and ended, with 12 rising, 15 declining and six closing unchanged. At the close, the Junior Market Index popped 36.70 points to 3,226.53.
The PE Ratio, a measure used in computing appropriate stock values, averages 12.2 based on ICInsider.com’s 2021-22 earnings forecast.
Trading ended with 8,706,882 shares changing hands for $60,709,296 compared to 5,586,599 units at $16,747,890 on Friday. Honey Bun led trading with 69.8 percent of total volume after an exchange of 6.07 million of the company’s shares, followed by Lumber Depot 5.6 percent, with 489,568 units and Future Energy Source with 5.6 percent after trading 489,369 shares.
Trading averaged 263,845 units at $1,839,676 up from 169,291 shares at $507,512 on Friday and month to date, an average of 206,736 units at $653,160, compared to 203,845 units at $593,106 on Friday. August closed with an average of 464,471 units at $1,258,652.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, AMG Packaging shed 6 cents to $1.95 after exchanging 16,904 shares, Blue Power fell 16 cents to $3.19, trading 28,223 stocks, CAC 2000 dropped 60 cents to $8.50 after exchanging 614 units. Cargo Handlers popped 5 cents to close at $7.05, with 200 stock units clearing the market, Caribbean Assurance Brokers gained 9 cents in ending at $1.75 after 750 units passed through the market, Caribbean Cream dipped 10 cents to $6.50 in exchanging 8,984 stocks. Consolidated Bakeries declined 17 cents in closing at $1.70 in switching ownership of 5,000 shares, Elite Diagnostic rose 7 cents to $3.02, with 10,205 stock units crossing the exchange, Express Catering spiked 52 cents to $5.72 while exchanging 710 units. Fontana dropped 25 cents to $6.35 with an exchange of 10,768 stock units, General Accident advanced 15 cents to $5.30 in trading 9,600 stocks, Honey Bun spiked $1.10 to $9 after finishing trading 6,074,541 shares. Jetcon Corporation fell 17 cents to $1.10, with 167,584 stock units changing hands, Knutsford Express lost 35 cents in ending at $6.50 in an exchange of 5,764 stocks, Lasco Distributors declined 10 cents to $3.60 with the swapping of 11,120 units. 
Lasco Manufacturing rallied 9 cents to $4.60, with 207,002 shares crossing the market, Limners and Bards shed 19 cents to end at $3.30 after exchanging 407,527 stocks, Mailpac Group increased 15 cents to $3.69 with an exchange of 130,753 units. Main Event gained 37 cents in ending at $4, with 250 shares crossing the exchange, Medical Disposables spiked 53 cents to $4.99 in trading 139,928 stock units, Stationery and Office Supplies climbed 24 cents to $6 in switching ownership of 100 stocks and Tropical Battery fell 7 cents to close at $1.27 trading 54,800 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior market stocks close week down
The volume and value of stocks trading slipped modestly to close out market activity on Friday, from Thursday’s levels to close out another week with the Junior Market of the Jamaica Stock Exchange falling over 58 points below the previous week’s close.
Market activity led to 33 stocks trading own from 36 on Thursday and ended, with 14 rising, 12 declining and seven closing unchanged.
At the close, the Junior Market Index dipped 9.07 points to settle at 3,189.83.
The PE Ratio, a measure used to compute appropriate stock values, averages 12.1 based on ICInsider.com’s earnings forecast for 2021-22.
Trading of 5,586,599 shares resulted in an exchange of $16,747,890 compared to 6,813,063 units at $17,345,293 on Thursday. Lumber Depot led trading with 29.8 percent of total volume after an exchange of 1.67 million shares, followed by Future Energy Source 11.9 percent, with 666,129 units and Caribbean Flavours 9.9 percent, with 554,064 shares.
Trading averaged 169,291 units at $507,512 versus 189,252 shares at $481,814 on Thursday and month to date an average of 203,845 units at $593,106, compared to 205,687 units at $597,669 on Thursday. August closed with an average of 464,471 units at $1,258,652.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial fell 25 cents to $18.75 in exchanging 1,100 shares, AMG Packaging popped 21 cents to $2.01, with 297,747 stock units crossing the market, Caribbean Assurance Brokers dropped 13 cents to $1.66 in an exchange of 21,335 units. Caribbean Cream climbed 30 cents to end at $6.60 with the swapping of 51,785 stocks, Caribbean Flavours rose 6 cents to $1.90, with 554,064 shares clearing the market, Elite Diagnostic shed 7 cents to $2.95, after 28,016 units crossed the market. Everything Fresh rose 11 cents to 97 cents in trading 44,082 stocks, Express Catering rallied 80 cents to $5.20 after exchanging 174,433 stock units, Fontana gained 35 cents to end at $6.60 trading 60,007 stocks. GWest Corporation popped 10 cents to 95 cents while trading 1,200 shares, Honey Bun spiked 29 cents to close at $7.90 with an exchange of 302,351 units, Indies Pharma advanced 19 cents to $3.39 in trading 21,865 stock units. Jamaican Teas lost 18 cents in closing at $3.52, trading 146,265 stock units, Jetcon Corporation spiked 22 cents to $1.27, with 337,712 stocks changing hands, Lasco Financial popped 17 cents to $3.15, in exchanging 20,014 shares. 
Lasco Manufacturing declined 32 cents to $4.51, with 32,907 units crossing the exchange, Lumber Depot climbed 19 cents to close at $2.99, after exchanging 1,666,179 stocks, Mailpac Group dropped 11 cents in closing at $3.54 in an exchange of 284,989 units. Main Event declined 57 cents to $3.63, with 45,098 stock units clearing the market, SSL Venture popped 6 cents to end at 69 cents in switching ownership of 997 shares and Stationery and Office Supplies shed 14 cents to end at $5.76, with 2,582 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Juniors end with a big bounce
Trading ended on Thursday, with the volume of stocks traded rising 12 percent and the value trading falling 9 percent compared to Wednesday at the close of the Jamaica Stock Exchange Junior Market as the market enjoyed a strong recovery from Wednesday’s loss of near 67 points.
Similar to Wednesday 36 stocks traded ending with 15 rising, 13 declining, with eight unchanged.
The Junior Market Index gained 46.75 points to close at 3,198.90.
The PE Ratio, a measure used in computing appropriate stock values, averages 12.1 based on ICInsider.com’s forecast of earnings for 2021-22.
Trading of 6,813,063 shares on Thursday, accounted for $17,345,293 versus 6,071,422 units at $19,121,644 on Wednesday. Future Energy Source led trading with 25.3 percent of total volume after exchanging 1.72 million shares, followed by Lumber Depot 15 percent, with 1.02 million units and SSL Venture with 13.3 percent after trading 907,939 shares.
Trading averaged 189,252 units at $481,814 versus 168,651 shares at $531,157 on Wednesday. Trading month to date, averages 205,687 units at $597,669 compared to 206,702 units at $604,823 on Wednesday. August ended with an average of 464,471 units at $1,258,652.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and three with lower offers.
At the close, Access Financial fell $2 to $19 with an exchange of 100 shares, AMG Packaging popped 16 cents to $1.80, with 302,319 stock units crossing the exchange, Cargo Handlers declined 40 cents to $7 in exchanging 33,767 stocks. Caribbean Cream spiked 59 cents in closing at $6.30 in swapping 11,965 units. Caribbean Flavours shed 6 cents to close at $1.84 after 501,831 stocks crossed the market, Consolidated Bakeriesclimbed 27 cents to $1.87, with 10,250 stock units crossing the market. Express Catering increased 69 cents to close at $4.40 in an exchange of 5,800 shares, Fontana gained 10 cents in closing at $6.25 after trading 37,703 units, Future Energy Source popped 9 cents to end at $2.89, with 1,722,635 shares clearing the market. GWest Corporation dropped 10 cents to 85 cents with the swapping of 23,782 stocks, Honey Bun lost 39 cents in closing at $7.61 after exchanging 28,561 stock units, iCreate rallied 5 cents to 80 cents trading 26,596 units. Indies Pharma rose 6 cents to $3.20 while exchanging 68,857 stocks, Jetcon Corporation rallied 6 cents to end at $1.05, with 111,275 units changing hands, Lasco Distributors spiked 6 cents to close at $3.70 in trading 455 stock units.
Lasco Manufacturing increased 32 cents to $4.83 after exchanging 10,148 shares, Lumber Depot shed 14 cents to $2.80, with 1,021,891 stock units changing hands, Mailpac Group climbed 10 cents to $3.65 in an exchange of 110,396 stocks. Paramount Trading advanced 5 cents in closing at $1.10 after exchanging 20,075 units, SSL Venture fell 11 cents to close at 63 cents with an exchange of 907,939 shares and Tropical Battery popped 7 cents to $1.34 in exchanging 51,488 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market pressured on Wednesday
On Wednesday, the Jamaica Stock Exchange Junior Market came under selling pressure, sending the Junior Market Index careening down 66.74 points to 3,152.15, the lowest level since April this year. Thirty-six securities traded compared to 38 on Tuesday and ended with just seven stocks rising, 19 declining and ten unchanged.
The volume of stocks traded on Wednesday declined by 44 percent and the value 46 percent from Tuesday’s levels, with 6,071,422 shares traded for $19,121,644, down from 10,904,334 units at $35,164,246 on Tuesday. Future Energy Source led trading after taking 43.3 percent of the volume with 2.63 million shares, followed by Caribbean Flavours 9.6 percent, with 585,245 units and Derrimon Trading with 424,600 units for 7 percent market share.
Trading averaged 168,651 units at $531,157 versus 286,956 shares at $925,375 on Tuesday and month to date an average of 206,702 units at $604,823, compared to 209,206 units at $609,671 on Tuesday . August closed with an average of 464,471 units at $1,258,652.
The PE Ratio, a measure used to compute appropriate stock values, averages 11.9 based on ICInsider.com’s 2021-22 earnings forecast.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial climbed 99 cents to $21 with the swapping of 13,092 shares, AMG Packaging lost 9 cents after ending at $1.64, with 4,975 stock units changing hands, Caribbean Cream shed 29 cents to $5.71, with 15,169 stocks clearing the market. Caribbean Flavours dropped 8 cents to close at $1.90, trading 585,245 units, Derrimon Trading fell 6 cents in closing at $2.25, with 424,600 units crossing the market, Express Catering shed $1.19 to $3.71 after 116,200 stock units crossed the exchange. Fontana popped 5 cents to $6.15 while exchanging 162,093 shares, General Accident dropped 15 cents to $5.15 after an exchange of 300,000 stocks, GWest Corporation popped 10 cents to 95 cents, with an exchange of 3,049 stocks. iCreate lost 5 cents in closing at 75 cents and finished trading of 17,425 stock units. Lasco Distributors fell 16 cents to $3.64 in exchanging 348,491 units, Lasco Manufacturing declined 32 cents to $4.51 in an exchange of 58,283 shares.
Limners and Bards shed 20 cents to $3.45 in trading 196,098 units, Mailpac Group fell 13 cents to $3.55 after exchanging 181,170 stocks, Medical Disposables shed 50 cents to close at $4.50 after 88,417 stock units crossed the market. Paramount Trading declined 5 cents to $1.05 in switching ownership of 3,925 shares, SSL Venture gained 10 cents to end at 74 cents after exchanging 23,154 stocks and Stationery and Office Supplies lost 88 cents in closing at $5.90, with 3,282 stock units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Rising stocks outpace losers
Trading closed on Tuesday, with the volume of stocks traded rising 64 percent higher, with the value traded increasing 47 percent over Monday as the Junior Market of the Jamaica Stock Exchange ended with two stocks rising for everyone declining.
Market activity ended with 38 securities trading similar to Monday after 16 stocks rose, eight declined and 14 ended unchanged. The Junior Market Index rose 1.69 points to 3,218.89. The PE Ratio, a measure used in computing appropriate values for stocks, averages 12.1 based on ICInsider.com’s 2021-22 earnings forecast.
A total of 10,904,334 shares traded for $35,164,246 compared to 7,417,126 units at $21,433,263 on Monday. Limners and Bards led trading with 43.7 percent of total volume after trading 4.76 million shares followed by Future Energy Source 31 percent, with 3.38 million units and Jamaican Teas 7.9 percent, with 858,909 shares.
Trading averaged 286,956 units at $925,375 versus 195,188 shares at $564,033 on Monday and month to date, an average of 209,206 units at $609,671, compared to 203,402 units at $586,102 on Monday. August closed with an average of 464,471 units at $1,258,652.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and three with lower offers.
At the close, Access Financial lost $1.48 in ending at $20.01 with 22,295 shares clearing the market, Blue Power spiked 62 cents to $3.37 with the swapping of 5,947 units, CAC 2000 gained 60 cents in closing at $9.10 after trading 5,000 stock units. Cargo Handlers increased 10 cents to $7.40 in an exchange of 3,999 stocks, Caribbean Assurance Brokers popped 4 cents to $1.79 with an exchange of 14,957 stock units, Consolidated Bakeries shed 20 cents to $1.60, with 7,360 shares changing hands. Everything Fresh dropped 6 cents in closing at 90 cents in switching ownership of 128,541 units, Express Catering rallied 60 cents to $4.90 while exchanging 4,635 stocks, Fontana fell 5 cents to end at $6.10 after 298,234 shares changed hands. Honey Bun declined 20 cents to close at $8 in trading 58,950 stocks, Lasco Financial fell 15 cents to $3 after exchanging 35,012 stock units, Limners and Bards rose 35 cents in closing at $3.65, after 4,761,862 units crossed the exchange. 
Lumber Depot climbed 8 cents to $2.98, with 353,242 stock units crossing the market, Mailpac Group rose 8 cents to $3.68 after trading 77,351 stocks, Medical Disposables advanced 53 cents to $5 in an exchange of 100 units. Stationery and Office Supplies rose 88 cents in closing at $6.78 after an exchange of 6,569 shares and tTech lost 15 cents to end at $4.35 with 30,100 stock units clearing the market, but after trading at a 52 weeks’ intraday low of $3.60.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling stocks clobber gainers
Declining stocks controlled trading closed on Monday, with the volume of stocks traded surging 118 percent higher, with the value rising 112 percent over Friday trades and leading to a decline in the Junior Market of the Jamaica Stock Exchange.
Market activity led to 38 securities trading compared to 36 on Friday and ended, with seven rising, 22 declining and nine ending unchanged. At the close, the Junior Market Index lost 31.27 points to settle at 3,217.20.
The PE Ratio, a measure used to compute appropriate stock values, averages 12 based on ICInsider.com’s earnings forecast for 2021-22.
A total of 7,417,126 shares traded for $21,433,263 compared to 3,408,470 units at $10,100,692 on Friday.
Future Energy Source led trading with 30.4 percent of total volume after an exchange of 2.26 million shares followed by Limners and Bards 19.8 percent with 1.47 million units and Derrimon Trading 11.3 percent with 837,570 shares.
Trading averaged 195,188 units at $564,033 in contrast to 94,680 shares sat $280,575 on Friday and month to date, an average of 203,402 units at $586,102, compared to 204,065 units at $587,883 on Friday. August closed with an average of 464,471 units at $1,258,652.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, AMG Packaging rose 5 cents to $1.71 in switching ownership of 23,781 shares, Blue Power fell 70 cents to $2.75, with 1,000 stock units crossing the exchange, CAC 2000 shed 65 cents in closing at $8.50 with an exchange of 9,395 units. Cargo Handlers declined 70 cents to $7.30 after exchanging 4,850 stocks, Caribbean Assurance Brokers lost 5 cents to close at $1.75, with 13,929 stock units changing hands, Caribbean Cream dropped 5 cents to $6, with 8,408 shares crossing the market. Consolidated Bakeries declined 10 cents to $1.80, trading 642 stock units, Elite Diagnostic lost 4 cents to close at $3.03 in trading 23,400 units, Express Catering shed 20 cents to $4.30 in exchanging 68,756 stocks. Fosrich climbed 8 cents to $8.10 after exchanging 2,042 units, Future Energy Source spiked 36 cents to $2.80 in trading 2,255,199 shares. General Accident dropped 24 cents to close at $5.30, with 230,444 stocks crossing the market, GWest Corporation fell 20 cents to 83 cents with the swapping of 11,048 shares, Honey Bun declined 78 cents in closing at $8.20 while exchanging 9,677 units. 
Indies Pharma lost 23 cents to close at $3.17 in an exchange of 11,606 stock units, Knutsford Express shed 15 cents to $6.85 in exchanging 1,011 units, Lasco Distributors popped 12 cents to $3.82 with 3,067 shares crossing the exchange. Limners and Bards fell 50 cents to $3.30 with the swapping of 1,469,967 units. Lumber Depot declined 10 cents in closing at $2.90 after exchanging 683,558 shares, Mailpac Group rallied 10 cents to $3.60 after trading 72,669 stocks, Medical Disposables dropped 47 cents to $4.47, with 343,907 stock units clearing the market. Stationery and Office Supplies shed 70 cents ending at $5.90 with 2,800 units crossing the exchange and Tropical Battery lost 4 cents to close at $1.27 while exchanging 69,176 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Shocking 4 years of Cargo Handlers errors
The number of shares issued by publicly listed companies is very important information for investors to know, but investors would not think so when examining interim financial statements in Jamaica and Trinidad and Tobago of some of the companies.
There have been so many occasions one has to search high and low to find it if at all it is reported in the interim numbers. This is such a simple matter and the stock exchanges in the region could cure it easily, by making it one of the items that must be included in quarterly reports. It should be included as a part of the statement of movement in Shareholders’ equity.
Take the matter of segment reporting. Some companies report it quarterly and some only annually. Most correctly report the current period and the comparative previous year’s period. Why can’t the JSE insist on some minimum standards for the benefit of investors so they get information consistently? Limners and Bards is the latest company to provide a quarterly report with no segment results yet they report it in the audited report albeit just one year forcing investors to have to go back to the previous year’s report for the comparison. Seems if that is the approach they should just report the current year’s figures and let investors go back to the previous year’s reports for profit and balance sheet information.
Communication with investors is a subjective matter but there are some simple matters that it just takes some thinking or consulting to get right.
The latest shocking reporting is that of Cargo Handlers that shows the number of shares issued as a part of the statement of shareholders’ equity. The oddity is the company reporting only 37.466 million issued shares since 2018 when it increased to more than 374 million units. The Jamaica Stock Exchange website shows them as having 416.25 million shares issued and the audited accounts show that the change took place in 2018 the numbers moving from 37.485 to 374.653 million shares. One wonders why no one discovered this glaring error when the list of top 10 shareholders show four of them having more shares than what they list as issued. The error goes back to 2018 for all of the quarterly reports.
This is such a glaring error and neither the Stock Exchange, the Financial Services Commission the directors of the company or its accounting staff have found out.
Our reporting standards are not up to scratch and some persons in the financial system love to talk about best practices globally.
The vast majority of listed companies report profit results with direct and indirect costs and gross profit. But others do not. The group shockingly includes GraceKennedy, 138 Student Living, Knutsford Express. It is full time that companies lift the standard of reporting so that investors can get pertinent information to use in their investment decision making. In response to a question put to Don Wehby about the bulking of all cost on the profit statement suggest that they are in compliance with accounting standards, but that is such a lame and shocking excuse from a company of such standing in the country. Seprod produces it, Jamaica Broilers does it and several other listed companies so why not Grace. Are grace directors suggesting that their shareholders are lesser persons than those of other companies? The case of 138 Student Living is shocking when one considers that the Chairman, Ian Parsard is also Group Senior Vice President – Finance & Corporate Planning at Jamaica Broilers.
AMG Packaging is in a class by itself when it comes to poor communication. The company has embarked on a major capital project, but the directors appear to be of the view that minority shareholders are best kept in as much darkness as possible about it. The audited accounts for 2020 are silent on any commitment to the project.
The latest quarterly the only capital spend, is shown as work in progress on the balance sheet in the amount of $57 million, with no comments on the progress, the total commitment and when it is expected to be complete and be in use. Worse there are no comments on its use. It is noted that the purpose has moved from a warehouse to a factory between 2018 and now.
In the 2018 annual report, the Chairman stated that “the Company recently took an option to purchase an adjoining property. If the transaction is completed, the additional space will be used to alleviate some of the space constraints in the existing facility, making operations more efficient.”
In the 2019 annual report “The Company completed the acquisition on the property at 12 Retirement Crescent which will allow us to expand our operations and to better serve our customers.” The company also stated that they “obtained funding from Proven Wealth Limited to assist with the development of 12 Retirement Crescent. The KSAC is in the process of reviewing the architectural drawings for 12 Retirement.”
The 2020 annual report states, “the company plans on utilizing the strong cash and cash equivalents position into developing 12 Retirement Crescent. The pandemic had caused the development of 12 Retirement Crescent to delay from 2020 to 2021. A contractor has been chosen and the building of an additional 11,370 square feet is set to begin in February 2021.”
In the results to February this year, the only comment made about the development is “that the new steel frame warehouse purchased from China arrived and construction commenced. The financial statement shows WIP at $49 million, with a zero balance in the November quarter.”