A combination of increased sales’ volume and price adjustment saw Desnoes & Geddes, the producers of the world famous Red Stripe beer, enjoying a 20 percent jump in sales revenues in the March 2015 quarter.
Sales reached $2.96 billion and a near doubling in profit to $367 million for an 88 percent increase from $196 million in 2014. For the nine months to March profit was up a more sedate 29 percent on a 14 percent sales increase to $9.6 billion over 2014.
Local sales rose 20 percent in the March quarter and exports were up only 6 percent, for the year to March exports grew 11 percent and local sales 13 percent.
Earnings per share for the quarter came in at 13 cents and 54 cents for the nine months and should end at 80 cents for the full year and $1.05 for 2016 fiscal year. Gross profit margin increased during the nine months period to 41.4 percent from 39.94 percent and 37.7 percent during the quarter from 36.2 percent.
The March quarter saw a turnaround in the results of the distribution company it’s a joint venture partner with Pepsi in, which contributed $20 million in the quarter compared with a $47 million loss in 2014 and for the nine months, losses increased to $62 million from $46. Marketing cost jumped to a billion for the nine months from $737 million in 2014. Other costs were held fairly tight.
The period ended with net fixed assets increasing by $1.5 billion but the company still ended with cash funds at $1.38 billion and equity of $9.4 billion.
The stock is listed on the Jamaica Stock Exchange and closed last at $7.20, with a PE ratio of 9.
D&G profit nearly doubles in Q3
May 18, 2015 by
19 stocks rose only 3 fell on JSE
May 15, 2015 by
Hardware & Lumber gained $1.25 to a new high of $12 in response to news that Grace is in negotiation to sell their interest in the company
The rally started last year fuelled by falling money market rates with Treasury bill rate falling from over 9 percent to below 7 percent. The current rally is be fuelled by rising profits from the majority of companies reporting first quarter results.
The JSE Market Index lost 507.33 points to 98,992.10, the JSE All Jamaican Composite index fell 567.23 points to close at 109,396.05 and the JSE combined index declined 237.32 points to close at 101,419.02.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 15 stocks with bids higher than their last selling prices and 2 with offers that were lower.
Stocks in the main market trading to close at a 52 weeks’ high, are Berger Paints, Desnoes & Geddes, Hardware & Lumber, Jamaica Stock Exchange, JMMB Group and Mayberry Investments. In trading, Barita Investments ended with 622,050 shares changing hands to close at $2.35, Berger Paints closed with 55,162 shares trading, 27 cents higher at $2.35, Cable & Wireless finished trading with 619,569 shares to gain 1 cent to 47 cents, Caribbean Cement saw trading in 3,351 shares, to close 1 cent higher at $4.21. Carreras closed with 32,376 shares changing hands to close 35 cents up at $49.35, Desnoes & Geddes finished trading with 14,650 shares and gained 10 cents in trading to close at $7.20, Grace Kennedy concluded trading with 307,283 units trading with the last price unchanged at $64.50, Hardware & Lumber completed trading in 9,092 shares changing hands and jumped $1.20 at $12 as investors responded to news that Grace is discussing selling their stake in the company. Jamaica Broilers had dealing in 48,730 units traded at $5.16 to remain unchanged at the end. Jamaica Stock Exchange contributed 244,616 shares, the price jumped 60 cents or 21 percent in response to the company’s huge jump in their first quarter results showing profit of $87 million or 62 cents and ended at $3.50. Trading was halted for an hour after the price exceeded 15 percent. JMMB Group ended with 27,855 shares changing hands to close up by 10 cents at $9.60, Mayberry Investments closed with 12,289 shares trading at $3,after adding 12 cents, National Commercial Bank finished trading with 468,084 units unchanged at $30.50. Pan Jamaican Investment ended trading with 14,769 units 12 cents higher, at $58.25, Sagicor Group closed with 191,168 shares trading 15 cents lower at $12. Scotia Group finished trading with 88,383 shares changing hands to close 84 cents lower at $25.16, Seprod saw trading in 335,400 shares ending 25 cents up at $18.50 and Jamaica Money Market Brokers 7.50% preference share ended with 68,650 units trading with a 5 cents rise to $2.15.
JSE cooled but 16 stocks still rise
May 13, 2015 by
NCB gained $1.01 to close at a new 41/2 years’ high of $31.01
The JSE Market Index declined 29.63 points to 99,094.91, the JSE All Jamaican Composite index fell 33.14 points to close at 109,510.99 and the JSE combined index gained 49.81 points to close at 101,299.90, the latter due to the rise of junior market stocks.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 8 stocks with bids higher than their last selling prices and 2 with offers that were lower. This reading is well down from the double digits bids being higher for several days and may be an indication that price gains going forward for now may be cooling, that is the norm after results are out for the first quarter.
Another indicator of a slowing market is the number of new 52 weeks’ high have slowed with just 1 in the junior market and 3 in the main market.Stocks changing hands includes, Cable & Wireless that traded 549,019 units to close unchanged at 48 cents, Caribbean Cement closed with 120,167 units trading, falling by 55 cents to $4.50, Carreras ended with a rise of 89 cents to $49 with 19,919 shares, Desnoes & Geddes traded 170,755 units at $7.11 up by 9 cents. Grace Kennedy traded unchanged at $65 with 46,504 shares, Jamaica Broilers closed down by 9 cents to end at $5.16 after trading at an intraday 52 weeks’ high of $5.50 with 95,942 shares being active, Jamaica Producers traded 8,502 shares at $18.52 and gained 2 cents. JMMB Group closed with 66,855 shares trading at a new 52 weeks’ high of $9.55 after gaining 5 cents, Kingston Wharves had 49,000 units trading to end 10 cents higher at $6.12,
National Commercial Bank closed $1.01 higher to a new 52 weeks’ high with 1,257,840 shares and ended at $31.01, after trading most at $30 and $30.50. Pan Jamaican closed with 17,824 units trading to end higher by 30 cents at $58.11. Proven Investments had 46,355 shares changing hands at 21 US cents, Radio Jamaica had just 2,936 units trading, to end at a new 52 weeks’ high of $2.40 as the stock gained 21 cents, at the close. Sagicor Group traded 113,272 shares to end higher by 6 cents at $12.16, Salada Foods had 40,000 units trading to end at $9, having fallen by 50 cents, Scotia Group traded 341,246 shares to close at $26 for a gain of 97 cents and Supreme Ventures had 100,000 units trading to end at $3.95.
16 stocks rise 5 down on JSE
May 12, 2015 by
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JMMB Group closed at 52 weeks’ high on Tuesday
The JSE Market Index gained 413.98 points to end at 99,124.54, the JSE All Jamaican Composite index rose 462.85 points to close at 109,544.13 and the JSE combined index gained 544.39 points to close at 101,253.09. The market broke through resistance on Monday, and seems to be moving away from the latest test. The next test at 115,000 points that is likely to challenge the rally with earnings almost fully in in a few days.
The added factor is the short-term moving average is lagging by a large margin the current market level and they will need some time to catch up with each other, if a correction does not take effect to bring more in line with each other.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 11 stocks with bids higher than their last selling prices and 3 with offers that were lower.
Stocks trading include Barita Investments ending with 320,000 shares trading 6 cents higher, at $2.37, for a 52 weeks’ high. Berger Paints had 20,571 units changing hands 16 cents $2, Cable & Wireless had 727,789 actively trading at 48 cents as the price ended 2 cents higher, Caribbean Cement closed at a new 52 weeks high of $5.05 with the price rising 51 cents with 671,498 shares changing hands.
Desnoes & Geddes closed with 15,000 shares to hit a 52 weeks’ high of $7.05 after posting a gain of 15 cents, Grace Kennedy traded 16,875shares to end at $65 but lost 49 cents, JMMB Group had 36,078 shares changing hands at 41 cents higher for a 52 weeks high of $9.50. National Commercial Bank traded 72,619 shares at $30, Sagicor Group exchanged 16,187 units at $12.10 with a gain of 10 cents, Salada Foods traded 5,910 units and put on 83 cents to $9.50, Scotia Group had 41,000 shares changing hands to close 1 cents higher at $25.03 after trading as high as $27, 81. Supreme Ventures traded 179,873 shares at a new 52 weeks; high of $3.95 by adding 6 cents. Jamaica Money Market Brokers 7.50% preference share traded 42,000 units at $2.10 but ended 1 cent lower and the 8.75% preference share traded 376,500 to end at $3, after losing 2 cents.
JSE back at August 2008 levels
May 11, 2015 by
Scotia rose to $27 during trading to help push market on Monday
Today’s trading resulted in the prices of 13 stocks rising, 9 declining as 32 securities changed hands, ending in 3,376,261 units trading, valued at $34,457,428, in all market segments with the market indices continuing to record gains. The market closed with 6 new 52 weeks high in the junior and main market.
TheJSE Market Index gained 1,291.03 points to 98,710.56, the JSE All Jamaican Composite index rose 1,443.44 points to close at 109,081.28 and the JSE Combined Index closed at 100,708.70 with a gain of 1,293.92 points.
The JSE All Jamaican Composite index closed at the highest level since it closed on August 28, 2008 at 109,877.58. Based on Monday’s close, the market has now crossed over the resistance trend line, just below today’s close. With Scotia Group pulling back from today‘s high of $27, there is no certainty that it will remain above resistance at the close on Tuesday, even if it does not pull back, the 115,000 mark, just 6,000 points away, is likely to be a real test as most first quarter results would have been released this week.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 11 stocks with bids higher than their last selling prices and 4 with offers that were lower.
Stocks trading include, Berger Paints trading 2,705 shares at $1.80 after shedding 15 cents. Cable & Wireless ended with 196,631
shares to close up 3 cents at 46 cents, Caribbean Cement ended with 15,074 units with the price falling 49 cents to $4.50, Carreras traded just 2,000 shares and declined 85 cents to $48.10, Desnoes & Geddes traded 252,106 shares $6.90 while adding 30 cents, Gleaner finished trading 886,808 units at $1, Jamaica Broilers ended trading with 7,634 shares at a new 52 weeks’ high of $5.25 after posting a gain of 45 cents. Jamaica Stock Exchange ended with 607,587 units and lost 3 cents at $2.90, JMMB Group closed with 35,677 shares at $9.10, for a gain of 39 cents. Mayberry Investments had dealing in only 1,669 shares to close at $2.80, to gain 5 cents, while National Commercial Bank contributed 845,891 shares at $30. Radio Jamaica traded gained 19 cents while 25,185 shares traded at a new 52 weeks’ high of $2.19, Sagicor Group completed trading with 191,940 units at $12, with a 10 cents loss. Scotia Group traded 16,348 shares to close at $25.02 to lose 98 cents compared to Friday’s close but traded at a new intraday high of $27. Scotia Investments had 10,000 units trading at $24.60 to gain 10 cents and Jamaica Money Market Brokers 7.50% preference share traded 50,000 units at $2.11.
Will JSE scale resistance?
May 8, 2015 by
Scotia closed at a new 52 weeks’ high on Friday at $26
The big question with some profit taking on Friday is whether the market has enough fuel to clear resistance around 109,000 points on the all Jamaica Composite index on this leg of the rally, or will it have to wait until summer, when the market usually resumes it advance after what is normally a softening after mid-May. Even if it does scale the pending resistance there is another at 115,000 points which is likely to be the first real test before it moves on.
In the first hour of trading on Friday the all Jamaica Composite index was up 653.67 points to 108,085.44 and the JSE index put on 584.65 to 97,819.86, sometime after the indices slipped back with a fall in the price of a number of large company stocks.
At the close, theJSE Market Index advanced 184.32 points to 97,419.53, theJSE All Jamaican Composite index rose 206.07 points to close at 107,637.84 and the JSE combined index gained 287.20 points to close at 99,424.78.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 12 stocks with bids higher than their last selling prices and 5 with offers that were lower.
In trading, Barita Investments ended with 100,000 shares changing hands, 1 cent higher, at $2.31. Caribbean Cement closed with 66,000 units trading at $4.99 with a 1 cent slippage, Desnoes & Geddes finished trading with 264,406 shares to end at $6.60, by shedding 40 cents, Grace Kennedy saw trading in 13,244 units unchanged at $65.50, Jamaica Broilers ended with 40,831 shares trading but lost 20 cents to $4.80. Jamaica Stock Exchange closed with 375,000 units changing hands but remained at $2.93, JMMB Group finished trading with a fall of 29 cents with 867,080 shares to end at $8.71. Mayberry Investments concluded trading with 203,163 shares and gained 10 cents, at $2.75,
National Commercial Bank ended unchanged at $30, in trading 126,642 units, Sagicor Group had dealing in 157,550 units and ended at $12.10, with a 10 cents increase. Scotia Group contributed 1,967,501 shares with a $50 million value to close at a new 52 weeks high of $26 after rising $1, Seprod ended trading with 36,900 shares at $18.25, down 25 cents and Jamaica Money Market Brokers 8.75% preference share traded closed with 148,603 at $3.10.The stocks to watch for the week ahead include Barita with a bid at $2.30 with one offer at $5, Cable & Wireless with the bid of 44 cents, last sale 43 cents, Jamaica Producers with the bid of $18.52 and an offer at $25. JMMB Group having a bid at $8.72 versus last sale of $8.71, National Commercial Bank is well supported by NCB Capital Market with an undisclosed amount being bought at $30, Mayberry bid $2.75 to but 128,962 units. Pan Jamaican Investment bid at $58 and no stock on offer. Radio Jamaica with a last selling price of $2 and a bid at $2.20 and Scotia Investments with a bid at $24.80 against a last sale price of $24.50.
JSE climbs to 3 ½ year high
May 7, 2015 by
JMMB Group closed at a new 52 weeks’ high of $9
The JSE Market Index gained 483.17 points to 97,235.21, the JSE All Jamaican Composite index rose 540.21 points to close at 107,431.77, a 3 ½ year high and the JSE combined index gained 455.12 points to close at 99,137.58.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 11 stocks with bids higher than their last selling prices and 3 with offers that were lower.
In trading, Barita Investments ended trading with 15,380 shares trading to close 5 cents higher at $2.30 as demand chips in for the stocks with the company releasing half year results, showing profits of $130 million versus $105 million in 2014. Desnoes & Geddes closed with 520,891 shares trading to close unchanged at $7, Grace Kennedy finished trading with 31,762 units 50 cents higher at a new 52 weeks’ high of $65.50, JMMB Group saw trading in 243,133 shares and rose 70 cents to a new 52 weeks low of $9. Mayberry Investments ended with the price slipping 15 cents to $2.65 with 501,020 shares changing hands. Mayberry released first quarter result after trading showing earnings of $82 million or 7 cents per shares, after booking the full amount of asset tax in the quarter.
National Commercial Bank closed unchanged with 575,063 shares at $30, Sagicor Group finished trading with 89,919 units and gained 14 cents to end at $12. Scotia Group concluded trading with 30,700 shares changing hands unchanged at $25, Supreme Ventures completed trading in 20,000 shares at $3.90 and gained 30 cents in the process, Proven Investments had dealing in 23,600 ordinary share at 21 US cents and Jamaica Money Market Brokers 8.75% preference share contributed 389,300 units at $3.
Bulls reign for now on JSE
May 6, 2015 by
D&G traded at a new 52 weeks’ high of $7
Main Market| The JSE Market Index gained 1,258.19 points to 96,752.04, the JSE All Jamaican Composite index rose 1,406.71 points to close at 106,891.56 and the JSE combined index put on 1,082.65 points to close at 98,682.46. The All Jamaica Index is now at the highest level since November 10, 2011.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 15 stocks with bids higher than their last selling prices and only 3 with offers that were lower.In trading, after a long period of drought, Barita Investments closed with 6,729,389 shares changing hands with as the price ended at $2.07 after trading as high as $2.25. Mayberry Investments bought 2,589.737 units from Barita’s clients for in house inventories and Barita bought 4 million units from the company’s clients for in house inventories. Caribbean Cement finished trading with 119,456 shares as the price ended unchanged at $5, Carreras concluded trading with 33,390 shares, $2.50 lower at $47.50. Ciboney ended trading 500,000 units and put on 1 cent to close at 10 cents, Desnoes & Geddes ended trading 330,611 shares to close higher by 49 cents at a 52 weeks high of $7, Grace Kennedy contributed 41,191 shares to close $1.38 higher, at a 52 weeks’ high of $65, after trading at $65.50.
Hardware & Lumber ended trading with 20,600 units to gain of 85 cents at $11, Jamaica Stock Exchange finished trading with 101,000 shares at $2.93 to record a 3 cents rise, National Commercial Bank while exchanged 193,050 units with a decline of 50 cents, to $30. Sagicor Group closed with 24,900 shares and fell 34 cents, to $11.86, Scotia Group had 52,719 shares trading, with the price ending unchanged at $25, Scotia Investments finished trading with 2,285 shares with a gain of 22 cents, to $24.50. Supreme Ventures closed with 120,624 units trading for 30 cents lower at $3.60, Proven Investments concluded trading with 97,144 ordinary shares at 21 US cents, after gaining moderately. IC Insider has confirmed that the company along with National Commercial Bank will be acquiring around 36 percent of Guardian Holdings a Trinidad Based Life assurance company. Jamaica Money Market Brokers 7.50% preference share traded with 87,000 shares at $2.10 and Jamaica Money Market Brokers 8.75% preference share traded closing with 45,000 units changing hands at $3.
18 gains 10 new highs – Tuesday
May 5, 2015 by
H&L gained 35% or $2.65 to $10.15 on Tuesday
Hardware and Lumber one of the stocks after an hour freeze in the trade went through with a gain of 29.70 percent but Radio Jamaica price of $3 that the stock had attempted trading at, was well over the 30 percent allowed and was cancelled. Ciboney price gained more than thirty percent from the last price but the bid on the previous day was such that the trade could take place unimpeded as the benchmark for the 15 percent was the bid price in the case. The market closed with the prices of 18 stocks rising, 5 declining, with 30 securities changing hands, ending in 7,028,882 units trading, valued at $46,086,343, in all market segments.
Main Market| The JSE Market Index gained just 11.21 points to 95,493.85, the JSE All Jamaican Composite index rose 12.53 points to close at 105,484.85 and the JSE combined index gained 181.45 points to close at 97,599.81.IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 14 stocks with bids higher than their last selling prices and 2 with offers that were lower.
In trading, Caribbean Cement ended with 50,000 units to close higher by 80 cents to end at $5, a new 52 weeks’ high, Carreras closed with 18,000 shares trading as the price jumped $2.82 to $50, a new 52 weeks’ high. Ciboney finished with 500,000 units and put on 2 cents to close at 9 cents, Desnoes & Geddes finished trading with 500 shares and gained of 2 cents to end at a new 52 weeks’ high of $6.51. Grace Kennedy concluded trading with just 10,193 units, 11 cents higher at $64.12, Hardware & Lumber had trading of 4,000 shares, the price climbed $2.65 to end at $10.15, Jamaica Broilers contributed 176,408 shares but the price gained by 9 cents to $5, JMMB Group finished trading with 1,026,000 units to close at $8.30, for a new 52 weeks’ high. Mayberry Investments had dealing in 120,581 units with a gain on 1 cent to end at a new 52 weeks’ high of $2.80,
National Commercial Bank contributed 275,391 shares to trading and ended higher by 51 cents at $30.50, Pan Jamaican Investment ended with 169,314 units trading, 51 cents higher at $57.51. Sagicor Group closed with 160,357 shares traded with a gain of 20 cents to $12.20, a new 52 weeks’ high. Scotia Group finished with 30,305 shares as the price ended at $25, Seprod finished trading with 64,600 units to close at $18.50, Supreme Ventures concluded trading with 755,156 shares as the rice rose 39 cents to end at $3.90, a new 52 weeks’ high. Proven Investments had trading in 25,994 units with the price falling .001 us cents to end at 20.99 us cents, Jamaica Money Market Brokers 8.75% preference share finished trading with 180,097 units with a decline of 20 cents to $3 and Proven Investments 8% preference share closed with 64,240 units as the price slipped 5 cents to $5.
JSE on a gallop to 31/2 year high
May 1, 2015 by
As if to make up for lost time the Jamaica Stock Exchange is now on a gallop, putting in another day of outsized gains. The market unlike most of the past 5 days, shot out of the box with a number of trades within 5 minutes of opening. By the close the prices of 16 securities rose with 8 of them closing at 52 weeks’ high and pushing the market to its highest level since mid-November 2011.
The prices of only 2 stocks declined as 23 securities changed hands, ending in 3,992,674 units trading, valued at $35,124,269, in all market segments. Even the junior market that has been a laggard this year, moved up sharply on Friday and is now just 29 points away from its all-time high reached in 2013. 
The JSE Market Index gained 2,824.66 points to 96,089.09, the JSE All Jamaican Composite Index jumped 3,158.10 points to close at 106,150.35, just below the level reached on November 11, 2011 and the JSE Combined Index leaped 2,890.21 points to close at 97,932.95.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows stocks with bids higher than their last selling prices and with offers that were lower.
In trading, Cable & Wireless ended with 1,037,588 units to close lower by 4 cents at 48 cents, Caribbean Cement with 902,807 shares changing hands, closed higher by 15 cents to $4,in continued response to excellent Q1 results. Carreras finished with 8,774 shares trading with a gain of 42 cents to a new 52 weeks’ high of $47.50, Desnoes & Geddes finished trading with only 28,000 shares, gaining 47 cents to a new 52 weeks’ high of $6.49, Grace Kennedy concluded trading with 172,590 shares but the price dropped 39 cents to $63.60, Jamaica Broilers ended up trading 66,500 units to close with a gain of 35 cents to $5.10. Jamaica Producers finished trading with just 2,812 shares, with the price rising $1.25 to $18.50.
There was dealing in 168,500 units of Mayberry Investments as the stock put on 5 cents to close at a new 52 weeks’ high of $2.65, National Commercial Bank contributed 433,054 shares to end with an increase of 42 cents to close at a new 52 weeks’ high of $30.50, the stock traded as high as $31. Sagicor Group ended with 212,335 units changing hands and put on 52 cents, to a new 52 weeks’ high of $11.53 after trading as high as $12.20. Scotia Group closed with 8,627 units and put on $2.26 to a new 52 weeks’ high of $25.49, Jamaica Money Market Brokers 7.50% preference share traded 140,900 units to end at $2.30 and Jamaica Money Market Brokers 8.75% preference share had 80,000 units changing hands at $3.20.
