Elite Diagnostics accounted for 31.7M of Wednesday’s Junior Market trading.
Elite Diagnostic lost money at the Liguanea branch in the first quarter of the 2019 fiscal year but the CEO Warren Chung told shareholders at the company’s annual general meeting held at the Knutsford Court Hotel on Wednesday, that October and November were two very good months at the branch.
The audited financial report on the fiscal year to June 2018 show revenues of $297 million compared to $263 million in 2017 resulting in profit of $45 million after tax credit of $9 million and $44 million in 2017 after tax expense of $15 million.
Liguanea has moved from a loss into profit and will not be a drag on profit from the original operation from now, the CEO confirmed. Data for the first quarter shows profit before tax dipped sharply from $14 million to $1.8 million the direct result of a loss at the Liguanea branch as well some cost involved in the early purchase of MRI machine to be used in the St. Ann Bay branch to be set up in mid-2019.
While revenues rose, a number of categories climbed sharply partially due to the expansion into a new location on Hope Road. Big increases were experienced in legal and professional fees that moved from just $38,000 to $3 million due primarily to the IPO in 2017, rental expense more than doubled to hit $15.8 million from $7.9 million and Utilities moved from $7.3 million to $17.5 million partially as a result of the new branch as well as some cost for storing the MRI machine to be installed in St Ann Bay location.
Elite CEO Warren Chung with a shareholder at the company’s 2018 AGM.
Cost to set up St Ann Bay is put at $20-22 million plus U$375,000 for the MRI machine. The company bought the MRI equipment early because it became available locally, but it comes at a cost as it is being stored and incurring cost as it has to be stored in certain conditions resulting in the consumption of electricity along with rent. The MRI Machine for St Ann is being stored with rental cost being incurred as well as electricity cost to maintain it at a cool temperature.
While the company has 3 other MRI competitors in Kingston, there will be no immediate competitor within 50 miles in St Ann. Operating cost at this location will less than at Liguanea with the former being staffed by 7 employees versus a planned staffing of 4 or 5 for St Ann.
For the Liguanea location to move into profit would require revenues around $36 million per quarter or 50 percent above that of the first quarter and that would likely move the profit in the second quarter well above the $1.8 million earned in the first quarter.
Elite last traded on the Junior Market of the Jamaica Stock Exchange at $2.85.
Trading on the Junior Market of the Jamaica Stock Exchange ended on Monday with 26 securities changing hands, resulting in an exchange of 2,263,347 units valued at $12,188,607 compared to 9,644,867 units valued at $21,232,867 from 21 securities trading on Monday.
at $3.80, Jetcon Corporation settled with a loss of 9 cents at $3.90, exchanging 38,461 shares, Key Insurance jumped 50 cents to a 52 weeks’ high of $5, with 1,027,000 stock units changing hands, 
Trading on the Junior Market of the Jamaica Stock Exchange ended on Monday with 21 securities changing hands, resulting in an exchange of 9,644,867 units valued at $21,232,867 compared to 4,790,864 units valued at $10,989,252 from 26 securities trading on Friday.
to $4.50, Lasco Distributors ended 20 cents higher at $4, with an exchange of 3,700 shares, Lasco Financial concluded trading of 31,600 stock units with a loss of 20 cents at $4.80. Lasco Manufacturing finished with a loss of 10 cents at $3.30, trading 33,300 units, Main Event settled with a loss of 10 cents at $6.35, with an exchange of 6,313 shares, SSL Venture Capital lost 2 cents in trading 6 million shares to end at $1.74, Stationery and Office finished trading 210 stock units with a loss of 32 cents down to $8.20, Sweet River closed at $3.50, with 100 units changing hands and tTech fell 19 cents to $5.11, with the trading of 902 shares. In the junior market preference segment, Derrimon Trading 9% ended with a loss of 10 cents at $2.10, with 2,270,174 stock units trading.
Trading on the Junior Market of the Jamaica Stock Exchange ended trading on Thursday with 23 securities changing hands, resulting in an exchange of 4,094,002 units valued at over $9,912,290 compared to 2,866,572 units valued at $7,184,147 on Wednesday from 24 securities. 
units changing hands, Indies Pharma traded 137,347 shares in closing at $3, Jamaican Teas settled 40 cents higher at $4.40, in exchanging 5,530 shares, Jetcon Corporation ended trading 52,959 stock units and rose 50 cents to close at $4. Key Insurance traded 15 cents higher at $4.15, with 568,144 units changing hands, Lasco Distributors ended with a loss of 10 cents at $3.80, with 232,796 shares trading, Lasco Financial concluded trading of 18,200 stock units and rose 15 cents to $5.15, Lasco Manufacturing finished 2 cents higher at $3.50, with 51,893 units. Medical Disposables ended trading of 100 shares at $6.20, SSL Venture Capital fell 6 cents in trading 2,526,362 shares to end at $1.74, Stationery and Office finished trading 24,738 stock units and declined $1.20 to close at $8.20, and tTech ended 30 cents higher at $5.30, with 1,598 shares changing hands.
$3.50, Indies Pharma traded 68,298 shares in closing at $3, Jamaican Teas settled at $4, trading 1,294 shares, Jetcon Corporation ended trading with a loss of 4 cents at $3.75, with 26,843 stock units changing hands, Key Insurance traded 9,535,317 units with a loss of 55 cents to end at $3.45. Lasco Distributors ended at $3.80, with 1,016,500 shares changing hands, Lasco Financial concluded trading with an exchange of 87,215 stock units after falling 40 cents to $4.85, Lasco Manufacturing finished trading 58,277 units at $3.50, Main Event settled 10 cents higher at $6.10, with an exchange of 7,226 shares. Paramount Trading dropped 82 cents to end at $2.15, with 25,000 shares trading, SSL Venture Capital traded 9,823 shares to end at $1.80 and Stationery and Office finished trading of 2,190 stock units with a loss of 8 cents to close at $9.40.
Trading on the Junior Market of the Jamaica Stock Exchange reverted to more normal levels on Monday, with 26 securities changing hands, resulting in an exchange of 843,267 units valued at $2,847,021, compared to 37,359,775 units valued at $87,094,646 from 23 securities trading on Friday.
$4, trading 100 units. Indies Pharma traded 70,958 shares in closing at $3, Jamaican Teas settled at $4, with 10,197 shares changing hands, 
The average volume and value for the month to date amounts to units 97,570 units valued at $444,262 and previously 99,170 units valued at $449,048. October, ended with an average of 69,421 units valued at $347,455 for each security traded.
closing at $3.05, Jamaican Teas rose 32 cents to close at $4.70, with 96,012 shares changing hands, Jetcon Corporation ended trading of 13,699 stock units, at $3.80, Key Insurance rose 24 cents to $3.40, with 29,595 units changing hands. KLE Group traded 339 shares, at $4, Knutsford Express closed with a loss of 30 cents at $11.50, in exchanging 21,000 shares, Lasco Distributors ended with a loss of 5 cents at $3.95, swapping 450,600 shares, Lasco Financial concluded trading 11 cents higher at $5.10, with 263,452 stock units changing hands. Lasco Manufacturing finished with a loss of 4 cents at $3.50, with an exchange of 48,976 units, Main Event settled at $6.50, with the trading of 350 shares, SSL Venture Capital traded 41,063 shares and gained 2 cents to end at $1.78 and tTech ended at $6.25, with 13,547 shares changing hands.
Trading on the Junior Market of the Jamaica Stock Exchange ended on Wednesday with 25 securities changing hands, resulting in an exchange of 611,280 units valued at $3,301,546 compared to 864,036 units valued at $3,263,089 on Tuesday from 20 securities.
At the close of the market, Access Financial closed $2 higher at $52, with 20,293 shares trading, Blue Power concluded trading of 1,200 units and rose 65 cents to $5.45, CAC 2000 finished with a loss of 1 cent at $16, trading 2,062 shares, Caribbean Cream ended trading 92 cents higher at $6, with 4,065 shares, Caribbean Flavours traded with a loss of 50 cents at $19.50, in exchanging 1,100 stock units. Caribbean Producers finished trading of 24,271 units and lost 4 cents at $5.51, Consolidated Bakeries closed 30 cents higher at $2.30, trading 4,331 shares, Derrimon Trading ended with a loss of 15 cents at $2.55, with 50,230 shares changing hands, Dolphin Cove concluded trading of 2,270 shares with a loss of 30 cents to close at $16. Elite Diagnostic finished 18 cents higher at $3.18, in exchanging 15,500 stock units, Everything Fresh fell 1 cent in trading a mere 2,500 shares to close at $1.77, Express Catering ended trading 2,500 shares at $7.50, FosRich Group traded 46,985 shares, with a loss of 1 cent at $3.84, Honey Bun ended at $4.11, trading 44,400 units. Indies Pharma traded 179,065 shares and fell 7 cents in closing at $2.93, Jamaican Teas settled 8 cents higher at $4.38, while trading 
1,000 shares, Jetcon Corporation ended trading 500 stock units at $3.80, KLE Group finished trading of 16,639 shares at $4, 
The Junior Market rose at the end of trading on Tuesday with Index to gaining 21.85 points to close at 3,227.93 on a day of moderate trades as 20 securities changed hands versus 21 on Monday.
The average volume and value for the month to date amounts to 119,515 units valued at $473,813 and previously 109,127 units valued at $494,523. October, ended with an average of 69,421 units valued at $347,455 for each security traded.
units changing hands, 
security traded.
exchanging 560 shares, Jetcon Corporation ended trading 12,500 stock units at $3.80, 
