Lasco Financial grabs 77% of trading

July 17, 2018 by

Lasco Financial traded 77% of Tuesday’s volume.

Trading on the Junior Market of the Jamaica Stock Exchange climbed over 200 percent on Tuesday over Monday’s levels, with Lasco Financial accounting for 2,755,556 units and 77.25 percent of the volume of 3.57 million units traded.
Lasco traded the largest volume, one day after the company released first quarter results with profit rising 59 percent before tax and 25 percent after tax to $100 million from a 73 percent rise in revenues, to $555 million.
Trading resulted in an exchange of 3,567,155 units valued at $16,970,111 compared to 1,119,859 units valued at $4,503,207 on Monday as 21 securities changed hands, compared to 28 on Monday. At the close of the market the prices of 5 securities rose, 11 declined and 5 traded unchanged leading to the market Index declining 6.18 points to close at 3,029.94.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 11 stocks ending with bids higher than their last selling prices and 1 with a lower offer.
Trading closed with an average of 169,865 units for an average of $808,100 in contrast to 39,995 units for an average of $160,829 on Monday. The average volume and value for the month to date amounts to 235,400 units valued at $942,241 and previously 241,183 units valued at $954,077. June closed with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, Access Financial lost 10 cents to end at $46.40, with 867 shares traded, Cargo Handlers settled with a rise of 15 cents to close at $9.65, with 5,226 shares changing hands, Consolidated Bakeries closed with a loss of 1 cent at $2, with 151,300 shares, C2W Music ended with a loss of 13 cents at $1.52, as 2,540 shares traded, Elite Diagnostic settled with a loss of 1 cent at $2.95, with 168,000 units. Express Catering traded at $7.30, with 125,878 shares trading, FosRich Group finished trading with a loss of 11 cents at $2.60, in exchanging 86,940 shares, Honey Bun concluded trading 500 shares at $5, Jamaican Teas ended trading at $5.30, with 31,320 stock units. KLE Group closed with a loss of 5 cents at $2.85, after 5,000 shares trading, Knutsford Express ended at $11.50, with 2,500 shares changing hands, Lasco Distributors concluded trading at $4, with 29,809 stock units, Lasco Financial rose 7 cents to $5.10, in the trading of 2,755,556 units. Lasco Manufacturing settled with 64,732 shares trading at $3.90, Main Event ended trading with a rise of 3 cents to $6.85, in exchanging 12,220 shares, Medical Disposables traded 1 cent higher at $5, with 27,389 shares, Paramount Trading finished trading 9,130 stock units at $2.98, Stationery and Office closed at $8.10, with 16,666 units and tTech concluded trading with a loss of 40 cents at $5.50, after 2,392 shares were exchanged. In the junior market preference segment, Derrimon Trading 9% preference share ended at $2.50, with 18,308 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , ,

12 Junior Market stocks rise 11 fall – Monday

July 16, 2018 by

The prices of 12 securities rose, 11 declined and 5 traded unchanged, resulting from 28 securities changing hands on the Junior Market of the Jamaica Stock Exchange on Monday, compared to 20 trading on Friday.
At the close of trading, the market Index declined by 30.80 points to close at 3,036.12, with 1,119,859 units valued at $4,503,207 changing hands, compared to 806,470 units valued at $3,015,197 on Friday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ending with bids higher than their last selling prices and none with a lower offer.
Trading closed with an average of 39,995 units for an average of $160,829 in contrast to 40,324 units for an average of $150,760 on Friday. The average volume and value for the month to date amounts to 241,183 units valued at $954,077 and previously 268,008 units valued at $1,059,844. June closed with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, Blue Power closed at $40, with 1,345 shares changing hands, CAC 2000 concluded trading with a loss of 1 cent at $9, with 7,782 units, Cargo Handlers finished with a loss of 15 cents at $9.50, with 830 shares changing hands, Caribbean Cream settled with a loss of 50 cents at $5.75, trading 3,100 shares, Caribbean Flavours ended trading 7 cents higher at $11.67, with just 368 shares changing hands, Caribbean Producers traded 27,442 stock units and rose 5 cents to $5.35. Consolidated Bakeries closed 1 cent higher at $2.01, with 3,000 units, C2W Music ended 10 cents higher at 52 weeks’ closing high of $1.65, with 33,143 shares, Derrimon Trading closed with a loss of 3 cents at $20, with 18,000 shares, Elite Diagnostic fell 4 cents to end at $2.96, with 7,000 stock units. Everything Fresh gained 8 cents and closed at $2.10 after 83,788 units changed hands, Express Catering ended trading with a loss of 20 cents at $7.30, in exchanging 17,324 shares, FosRich Group traded 14 cents higher at $2.71, with 387,471 shares, General Accident finished trading 10,447 shares and rose 5 cents to $3.05, GWest Corporation closed 5 cents higher at $2.40, with 15,000 stock units. Honey Bun traded 19,729 units to end at $5, Jamaican Teas settled 15 cents higher at $5.30, with 293 shares, Jetcon Corporation traded 6,163 stock units and ended at $4.10, Key Insurance traded 1 cent higher at $3.02, with 300 units. Knutsford Express closed at $11.50, after 1,800 shares traded, Lasco Distributors ended 9 cents higher at $4, with 244,516 shares, Lasco Financial concluded trading with a loss of 18 cents at $5.03, exchanging 60,982 stock units, Lasco Manufacturing lost 30 cents to end at $3.90, with 19,000 units. Main Event settled with a loss of 18 cents at $6.82, after trading 19,897 shares, Medical Disposables ended trading 125,156 shares with a loss of 1 cent to close $4.99, Stationery and Office Supplies closed 5 cents higher at $8.10, with 4,385 stock units and Sweet River closed with a loss of 10 cents at $3.70, with 198 units. In the junior market preference segment, Derrimon Trading concluded trading at $2.50 with 1,400 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , ,

Stocks to Watch this week

July 16, 2018 by

Caribbean Cream’s Kremi product

There are clear signs that the usual summer rally has started on the Jamaica Stock Exchange, with the main market hitting new highs on all five trading days during the past week, and ending at record closing highs on all, except on Friday.
The main market entered record territory, minutes after opening on Friday with the All Jamaican Composite Index climbing 1,082.40 points to an intraday record of 340,315.50 and the JSE Index rising 986.19 points to a record 310,065.85. The market is being steered higher by an upward sloping support line as well the 45 and 125 day moving averages, lending support just below the index for the main market and the Junior Market is being steered by an upward rising long term support line.
The market saw many developments that confirm that a bull market is in place. Mayberry Jamaican Equities initial public offer, opened and closed on Monday, having been oversubscribed and Indies Pharma public offer opened on Thursday and closed on Friday but Stanley Motta remains opened after more than a week since the offer opened.
Elsewhere in the secondary market, Jamaica Broilers traded briefly at a record high of $33, others trading at 52 weeks’ high in the main market are Kingston Wharves trading at $52.03, PanJam Investment at $58.99 and Pulse Investments trading up to $3.50, but 138 Student Living, having fallen to a 52 weeks’ low of $4.40 the previous week fell even lower in this past week to $3.85,
Former TOP 10 Junior Market listing, Derrimon Trading ordinary share, hit at an all-time high of $23 during the week. Current TOP 10 listing, CAC2000 hit a new record high of $10 as well as C2W Music climbed to $1.60, while recently listed Everything Fresh traded at an all-time low of $1.95 since listing in June. US dollar market listings, Margaritaville and Proven Investments both traded at a 52 weeks’ lows during the week as investors seem to lose interest in the US dollar listed shares.
The main market is exhibiting strong bullish signals while the Junior Market seems more subdued apparently waiting on the release of results.

Stationery & Office Supplies new book making operation.

Against this back drop there could be some interesting developments in in the market in the coming days. Based on demand and supply of stocks and trading activities last week the stocks worth watching this week include, Caribbean Cream that jumped sharply on Friday after the company reported improve first quarter results, NCB Financial pulled back in the past week but may be constrained by the $100 mark until the group reports third quarter results by month end. PanJam Investment could move higher again, as there continues to be buying but there is very limited supply of the stock on offer. Radio Jamaica that came for increased buying recently seems to be seeing supplies coming to market at $1.20 or higher and could get more attention as the weeks roll on. Others worth watching include Caribbean Cement, Berger Paints with little selling, Grace Kennedy for which there is also limited supply. In the Junior market, some demand exists for Derrimon Trading, with a resolution to be voted on at the upcoming AGM to split each share into 10 units, but the price may be stuck around the $20-23 range with the PE more than 20 times 2018 earnings compared to the market average of 11.4. Stationery and Office Supplies continues to trade around the $8 mark, with limited supply on offer, the stock is worth watching but may require second quarter results to kick the price to another level. With the directors stating that they have discussed the possibility of a stock split in the past, the stock can be expected to be one to see a split probably by the next AGM, investors should be stock piling this one with the price being undervalued. Jamaican Teas pulled back in the past week from $5.50 to $5 this week, but with limited stocks being offered for sale, is worth watching. Wisynco seems to have found support just above $9 and is one to watch over the next few weeks as the release of full year result nears, the Jamaican Stock Exchange is another to be watched along with JMMB Group and Seprod.

Filed Under: Stock Market, Stocks to watch Tagged With: , , , , , , , , , , , , , , , , , , , , , ,

Low Junior Market activity on Friday

July 13, 2018 by

Trading on the Junior Market of the Jamaica Stock Exchange on Friday closed with 806,470 units valued at $3,015,197 changing hands, compared to 9,971,398 units valued at $49,004,441 on Thursday.
The prices of 10 securities rose, 5 declined and 5 traded unchanged resulting from 20 securities changing hands on the Junior Market, compared to 22 on Tuesday. At the close of trading, the market Index advanced by 12.02 points to 3,066.92.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks ending with bids higher than their last selling prices and 4 with lower offers.
Trading closed with an average of 40,324 units for an average of $150,760 in contrast to 453,245 units for an average of $2,227,475 on Thursday. The average volume and value for the month to date amounts to 268,008 units valued at $1,059,844 and previously 291,975 units valued at $1,155,537. June closed with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, AMG Packaging ended with a loss of 1 cent at $2.06, with 11,419 stock units, Blue Power concluded trading at $40, with 1,680 units, Caribbean Cream ended trading $1.35 higher at $6.25, with 67,452 shares, Caribbean Producers finished trading at $5.30, with 30,537 units, Consolidated Bakeries closed at $2, with 23,149 shares. C2W Music ended 10 cents higher at $1.55, with 57,761 shares, Derrimon Trading climbed by $1 to end at a 52 weeks’ closing high of $23, with 6,202 shares, Elite Diagnostic settled 4 cents higher at $3, trading 204,045 units, Express Catering rose 24 cents to $7.50, with 1,000 shares. FosRich Group finished trading with a loss of 28 cents at $2.57, with 35,046 shares, Jetcon Corporation traded with a loss of 10 cents at $4.10, exchanging 1,500 units, KLE Group closed at $2.90, trading 86,300 shares, Knutsford Express ended at $11.50, with 660 shares changing hands. Lasco Distributors concluded trading with a loss of 20 cents at $3.91, exchanging 13,718 stock units, Lasco Financial finished 1 cent higher at $5.21, with 15,560 units, Lasco Manufacturing gained 20 cents and ended at $4.20, with 185,000 shares, Main Event ended trading and rose 18 cents to $7, with 9,938 shares, Stationery and Office closed 5 cents higher at $8.05, with 6,170 units and tTech concluded trading 40 cents higher at $5.90, with 2,072 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Honey Bun dominates Junior Market trade

July 12, 2018 by

Trading rose sharply on the Junior Market of the Jamaica Stock Exchange on Thursday as trading Honey Bun and Medical Disposables shares accounted for 9 million units of the nearly 10 million units to trade.
At the close of trading, 9,971,398 units valued at $49,004,441 were exchanged, compared to just 719,649 units valued at $3,154,582 on Wednesday.
The prices of 9 securities rose, 4 declined and 8 traded unchanged resulting from 22 securities changing hands on the Junior Market, compared to 24 on Tuesday. At the close of trading, the market Index slipped 5.48 points to close at 3,054.90.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ending with bids higher than their last selling prices and 3 with lower offers.
Trading closed with an average of 453,245 units for an average of $2,227,475 in contrast to 34,269 units for an average of $150,218 on Wednesday. The average volume and value for the month to date amounts to 291,975 units valued at $1,155,537 and previously 270,856 units valued at $1,015,164. June closed with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, Access Financial closed at $46.50, with 500 shares, AMG Packaging ended at $2.07, with 2,961 stock units traded, Blue Power concluded trading at $40, with 680 units, Caribbean Cream closed 6 cents higher at $4.90, with 259 shares, Caribbean Producers traded 2,000 units at $5.30. Consolidated Bakeries closed 10 cents higher at $2, trading 105,919 shares, Derrimon Trading ended trading with a loss of 1 cent at $22, with 18,262 shares, but only after trading at a record high of $23 earlier, Dolphin Cove finished 80 cents higher at $15.80, with 100 stock units, Elite Diagnostic rose 1 cent to $2.96, with 38,510 units. Everything Fresh traded at a new low since listing at $1.95 in the exchange of 169,459 units, but closed unchanged for the day at $2.10, Express Catering traded 12 cents higher at $7.26, with 22,882 shares changing hands, FosRich Group fell 5 cents to end at $2.85, with 31,244 shares, GWest Corporation ended 5 cents higher at $2.35, with 29,782 units trading, Honey Bun rose 10 cents higher to $5, with 6,006,556 shares. Jamaican Teas traded 3,000 stock units at $5.15, Jetcon Corporation closed 10 cents higher at $4.20, with 104,265 units, Key Insurance traded 13,837 shares at $3.01, Lasco Distributors concluded trading at $4.11, with 9,782 stock units. Lasco Manufacturing settled with a loss of 20 cents at $4, exchanging 8,190 shares, Main Event g 2ained cents to close at $6.82, with 8,559 shares, Medical Disposables traded 3,353,631 shares at $5 and Paramount Trading finished trading with a loss of 2 cents at $2.98, with 41,020 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , ,

10 Junior Market stocks fall 5 rise

July 11, 2018 by

CAC closed at a record high of $10.

The prices of just 5 securities rose, 10 declined and 6 traded unchanged resulting from 21 securities changing hands on the Junior Market, compared to 24 on Tuesday.
At the close of trading, the market Index slipped 9.02 points to close at 3,060.38, with an exchange of 719,649 units valued at $3,154,582 compared to 2,856,101 units valued $10,950,205 on Tuesday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 9 stocks ending with bids higher than their last selling prices and 4 with lower offers.
Trading ended with an average of 34,269 units for an average of $150,218 in contrast to 119,004 units for an average of $456,259 on Tuesday. The average volume and value for the month to date amounts to 270,856 units valued at $1,015,164 and previously 304,654 units valued at $1,138,728. June closed with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading in the Junior market, Access Financial closed with a loss of $1.50 at $46.50, trading 300 shares, AMG Packaging ended 7 cents higher at $2.07, with 30,000 stock units, CAC 2000 climbed by $1 to a record $10, with 4,000 shares, Cargo Handlers settled with a loss of 35 cents at $9.65, trading 11,912 shares, Caribbean Flavours traded 1,000 stock units at $11.60. Caribbean Producers finished trading with a loss of 20 cents at $5.30, in exchanging 15,442 units, C2W Music ended at $1.45, with 25,255 shares, Derrimon Trading concluded trading 1 cent higher to close at a record high of $22.01, with 963 shares, Elite Diagnostic fell 5 cents to close at $2.95, with 42,000 units. General Accident lost 5 cents in ending at $3, with 14,532 stock units, GWest Corporation ended at $2.30, with 11,432 units, Honey Bun concluded trading with a loss of 10 cents at $4.90, after exchanging 12,822 shares, Iron Rock finished 10 cents higher at $3.10, with 5,000 shares. Jamaican Teas ended trading at $5.15, with 11,000 stock units changing hands, Jetcon Corporation traded 11 cents higher at $4.10, with 213,711 units, Knutsford Express ended at $11.50, with 1,100 shares, Lasco Distributors concluded trading with a loss of 4 cents at $4.11, after 20,810 stock units changed hands. Lasco Financial fell 1 cent to $5.20, with 86,184 units, Lasco Manufacturing settled with a loss of 5 cents at $4.20, with 105,000 shares, Stationery and Office closed at $8, with 7,548 units traded and tTech concluded trading with a loss of 40 cents to $5.50, with 99,638 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , ,

Junior Market recovers Monday’s losses

July 10, 2018 by

Derrimon Trading closed at a 52 weeks’ high of $22 on Tuesday.

The prices of 10 securities rose, 6 declined and 8 traded unchanged resulting from 24 securities changing hands on the Junior Market fell on Tuesday up from 16 on Friday.
At the close of trading, the market Index climbed 47.89 points to close at 3,069.40, with an exchange of 2,856,101 units valued $10,950,205 compared to 21,868,083 units valued at $65,699,802 on Monday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ending with bids higher than their last selling prices and 3 with lower offers.
Trading ended with an average of 119,004 units for an average of $456,259 in contrast to 1,366,755 units for an average of $4,106,238 on Monday. The average volume and value for the month to date amounts to 304,654 units valued at $1,138,728 and previously 340,878 units valued at $1,271,893. June closed with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading in the Junior market, Access Financial closed $1.50 higher at $48, with 10,550 shares traded, Blue Power concluded trading with a drop of $8 to $40, with 2,003 units, Caribbean Flavours traded at $11.60, with 291 stock units, Caribbean Producers finished trading 25 cents higher at $5.50, with 156,035 units changing hands, C2W Music ended trading 17,707 shares at $1.45. Derrimon Trading jumped $2.84 to a 52 weeks’ high of $22 as 16,582 shares traded, Dolphin Cove finished trading at $15, with 1,331 stock units, Elite Diagnostic settled 3 cents higher at $3, with 5,606 units, Everything Fresh traded 150,882 units, closed at a low of since listing to $2 but closed at $2.10 in falling by 4 cents at the close, FosRich Group added 15 cents in trading 3,567 shares at $2.90. General Accident closed 10 cents higher at $3.05, with 65,468 stock units, GWest Corporation ended with a loss of 10 cents at $2.30, in exchanging 15,000 units, Honey Bun traded 172,461 shares at $5, ISP Finance settled at $15, trading 1,403 shares. Jamaican Teas ended trading 14 cents higher at $5.15, with 21,755 stock units, Jetcon Corporation traded with a loss of 1 cent at $3.99, with 74,427 units, Key Insurance finished trading at $3.01, with 1,501,000 shares, Knutsford Express ended at $11.50, with 1,200 shares. Lasco Distributors traded 601,183 stock units with a loss of 3 cents at $4.15, Lasco Financial finished 11 cents higher at $5.21, with 3,000 units, Lasco Manufacturing settled at $4.25 after rising 25 cents with 8,923 shares, Main Event ended trading with a loss of 20 cents at $6.80, trading 3,381 shares, Paramount Trading finished trading at $3, with 10,000 stock units and Stationery and Office closed 5 cents higher at $8, with 12,346 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Juniors inched higher – Friday

July 6, 2018 by

Junior market index moving higher gradually, but seems poised to surge higher by August as happened in 2017.

Trading on the Junior Market returned to more sedate levels on Friday with 1,704,155 units valued at $7,059,645, compared to 13,901,904 units valued at $65,220,930 on Thursday.
At the close, the market Index advanced by 8.27 points to close at 3,062.21 as the prices of 4 securities rose, 10 declined and 6 traded unchanged resulting from 20 securities changing hands, up from 25 on Thursday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ending with bids higher than their last selling prices and 4 with lower offers.
Trading ended with an average of 85,208 units for an average of $352,982 in contrast to 556,076 units for an average of $2,608,837 on Thursday. The average volume and value for the month to date amounts to 148,472 units valued at $848,065 and previously 210,982 units valued at $961,878. June closed with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading in the Junior market, AMG Packaging ended with a loss of 1 cent at $1.99, with 23,429 stock units, Caribbean Cream fell 16 cents to close at $4.84, with 21,756 shares, Consolidated Bakeries closed with 117,515 shares trading and lost 10 cents to end at $1.90, C2W Music ended at $1.30, with 29,999 shares changing hands, Derrimon Trading exchanged 23,136 shares and traded at an all-time intraday high of $20.50 but fell afterwards by 44 cents from Thursday’s close to end Friday at $19.16. Dolphin Cove finished at $15, with 1,400 stock units, Elite Diagnostic settled with a loss of 5 cents at $3 and trading 95,139 units, Express Catering traded 5 cents higher at $7.10, with 18,979 shares, FosRich Group finished trading with a loss of 30 cents at $2.65, in exchanging 6,242 shares. Honey Bun ended trading at $5, with 200 shares, Jetcon Corporation traded at $4, with 30,280 units changing hands, Knutsford Express ended 41 cents higher at $12.51, with 3,870 shares, Lasco Distributors concluded trading with a loss of 4 cents at $4.15, in exchanging 540,300 stock units. Lasco Financial finished 11 cents higher at $5.10, with 445,789 units, Lasco Manufacturing lost 20 cents to close at $4, with 103,771 shares, Medical Disposables traded 2,000 shares at $5, Paramount Trading closed 3 cents higher at $3, trading 4,200 stock units, Stationery and Office closed at $8, with 15,869 units changing owners and tTech declined 10 cents to $5.90, with 350 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , ,

Volume surged on Junior Market – Thursday

July 5, 2018 by
Jamaican Teas traded the most shares on Thursday

Jamaican Teas CEO, John Mahfood – the company’s shares traded the most on the Junior market on Thursday.

Trading on Thursday surged more than 7 times Wednesday’s level on Junior Market with 13,901,904 units valued at $65,220,930 traded, compared to 1,732,089 units valued at $7,477,627 on Wednesday.
The day’s trading levels were boosted by Jamaican Teas with more than 9 million units and Lasco Distributors with nearly 3.5 million shares.
At the close, the market Index dropped 32.96 points to 3,053.94 as the prices of 6 securities rose, 10 declined and 9 traded unchanged resulting from 25 securities changing hands, up from 20 on Wednesday. Derrimon Trading ordinary as well as its preference share ended at 52 weeks’ high of $19.60 and $2.50 respectively. Derrimon posted a 45 percent rise in its first quarter profit and announced 10 to 1 stock split to be voted on at the company’s upcoming AGM.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ending with bids higher than their last selling prices and 4 with lower offers.
Trading ended with an average of 556,076 units for an average of $2,608,837 in contrast to 86,604 units for an average of $373,881 on Wednesday. The average volume and value for the month to date amounts to 210,982 units valued at $961,878 and previously 71,831 units valued at $297,781. June closed with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, Access Financial closed with a loss of 50 cents at $46.50, trading 500 shares, AMG Packaging price fell 8 cents to end at $2, with 11,775 stock units, Caribbean Cream ended trading 40 cents higher at $5, with 10,000 shares, Caribbean Producers finished trading with a loss of 35 cents at $5.25, in exchanging 140,555 units, Consolidated Bakeries closed with a loss of 5 cents at $2, with 116,600 shares. C2W Music ended at $1.30, with 27,566 shares, Derrimon Trading jumped $1.20 to a new high of $19.60, with 13,766 shares changing hands, Elite Diagnostic settled 8 cents higher at $3.05, with 32,097 units, FosRich Group finished trading 20 cents higher at $2.95, with 38,505 shares. General Accident closed with a loss of 1 cent at $2.95, after trading 106,177 stock units, Honey Bun concluded trading of 20,000 shares with a loss of 25 to $5, Iron Rock finished at $3, with 501 shares traded, ISP Finance settled at $15, with 904 shares. Jamaican Teas ended trading 1 cent higher at $5, with 9,332,829 stock units changing hands, Jetcon Corporation traded with a loss of 10 cents at $4, as 40,594 units were exchanged, KLE Group closed at $2.90, with 1,864 shares, Knutsford Express lost 41 cents to close at $12.10, with 2,000 shares. Lasco Distributors concluded trading with a loss of 1 cent at $4.19, as 3,477,500 stock units were exchanged, Lasco Manufacturing settled at $4.20, with 104,600 shares, Main Event ended trading at $7, with 26,189 shares, Medical Disposables traded 872 shares at $5 and Stationery and Office closed with a loss of 50 cents at $8, trading 107,942 units. In the junior market preference segment, Derrimon Trading 9% preference share ended 60 cents higher to an all-time high of $2.50, with 1,000 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , ,

Derrimon hikes profit 45%

July 5, 2018 by

Staff at Derrimon Trading.

Revenues for the Derrimon Trading first quarter March this year, climbed 27 percent to $1.94 billion above the $1.53 billion reported for the 2017 quarter and led to a big hike in profit.
The company reported a strong 45 percent jump in its first quarter results, from $35 million to $52 million or 21 cents per share to March this year, but profit could have been even higher had they not incurred finance cost which jumped 56 percent to $38 million from $25 million in 2017, in refinancing the preference shares they held previously at higher rates than the new ones. IC Insider.com is forecasting earnings per share of just over 80 cents for the current year.
This year is the last for profit to enjoy full tax free status, in 2019 profit will be taxed at half the usual 25 percent rate less payroll tax credits.
“The full quarter’s performance of the retail stores as well as the impact of the joint venture positively influenced the growth of the revenue during this reporting quarter,” Derrick Cotterell, the chairman reported to shareholders.
Gross profit for the period was $353 million representing 18 percent of revenues and was up from gross profit of $279 million in the 2017 period with a similar percentage of revenues. According to Cotterell there was improved margin in the core business resulting from “a combination of improvement in margins arising from strategies employed within both the distribution & retail segments of the business, the positive impact from the culled distribution portfolio and improved margins from growth of the supermarket portfolio.” Margins for the non-manufacturing arm rose to 17.2 percent from 16.94 percent in 2017.
The company’s equity position is $1.04 billion but borrowed funds stand at $1.22 billion, cash and investments amounts to $432 million thus negating some of the negative of the high leveraging of the group. With much of the cash and investments held by Caribbean Flavours, the larger portion is not readily available to Derrimon. Current assets amount to $2 billion and current liabilities at $413 million.
The company is proposing to do a major increase in the authorized share capital, with some being set aside to facilitate the 10 for 1 stock split. With the stock price having climbed to the $20 region, the company should take the opportunity to raise equity capital and retire some of the debt now being carried by the parent company.

Filed Under: Company Results Tagged With: , , , , ,