Market activity ended on the Trinidad and Tobago Stock Exchange on Wednesday, with the volume of stocks traded rising 38 percent, with the value 25 percent lower than on Tuesday, resulting in 15 securities trading compared with 13 on Tuesday, with stocks rising, declining and unchanged sharing five each.
Investors exchanged 263,894 shares for $2,069,609 against 191,557 stock units at $2,763,387 on Tuesday. An average of 17,593 units were traded at $137,974 compared to 14,735 shares at $212,568 on Tuesday, with trading month to date averaging 16,266 shares at $172,607. The average trade for October amounts to 29,755 at $358,068.
The Composite Index popped 1.90 points to 1,312.67, the All T&T Index lost 5.82 points to close at 1,960.61 and the Cross-Listed Index climbed 1.42 points to 86.70.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s shed 99 cents after ending at $42.01 as investors exchanged 7,784 shares, Angostura Holdings advanced 80 cents in closing at $24.95 after a transfer of 206 stock units, Clico Investment Fund ended at $29.86 while exchanging 2,787 stocks. First Citizens Group rose 1 cent to close at $50.11 with 2,340 units changing hands, FirstCaribbean International Bank remained at $5 as 160 shares crossed the market, GraceKennedy remained at $5 in trading 643 units. Guardian Holdings ended at $25.13, with ten stock units crossing the exchange, Massy Holdings dipped 9 cents in closing at $4.40 in exchanging 160,676 stocks, NCB Financial climbed 20 cents to $4.76 in switching ownership of 1,060 stock units. Republic Financial dropped $2 to end at $133 with an exchange of 958 stocks, Scotiabank popped 80 cents to end at $77.80, with 3,139 units crossing the market, Trinidad & Tobago NGL lost 1 cent to close at $21.99 trading 5,597 shares. Trinidad Cement rallied 2 cents after ending at $3.50 in exchanging 74,834 stock units, Unilever Caribbean ended at $12.90, with 2,500 units changing hands and West Indian Tobacco declined 1 cent to $21.89 with 1,200 shares passing through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Mixed results for TTSE
Gains for the JSE USD market
Trading activity on the Jamaica Stock Exchange US dollar market declined on Tuesday, with the volume of stocks exchanged slipping 83 percent valued 18 percent less than Monday’s trade, following trading in 11 securities, compared to 10 on Monday with three rising, five declining and three ending unchanged.
Investors traded 79,997 shares with a value of US$20,849 versus 467,538 units at US$25,574 on Monday.
Trading averaged 7,272 stock units at US$1,895 on Tuesday versus 46,754 shares at US$2,557 on Monday. October ended with an average of 40,972 units for US$2,277.
The JSE US Denominated Equities Index gained 1.82 points to end at 212.91.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.6, The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
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, First Rock Real Estate USD share rallied 0.82 of one cent to end at 7.9 US cents as 75 shares passed through the market, MPC Caribbean Clean Energy gained 0.99 of a cent ending at 61.99 US cents as investors exchanged 1,080 stocks, Proven Investments advanced 0.96 of one cent to 19.99 US cents after a transfer of 20,212 stock units. Sterling Investments dipped 0.1 of a cent to 2 US cents, with 8,756 units changing hands. Sygnus Credit Investments USD share fell 0.88 of a cent to close at 9.12 US cents with the swapping of 11,271 stock units, Sygnus Real Estate Finance USD share remained at 11.64 US cents after 166 shares passed through the market and Transjamaican Highway ended at 0.98 of one US cent after an exchange of 30,245 stock units.
In the preference segment, Productive Business 9.25% preference share declined 14 cents in closing at US$12 in exchanging 500 units, Equityline Mortgage Investment preference share shed 3 cents to close at US$1.67 while exchanging 29 shares. JMMB Group 5.75% ended at US$1.75 after trading 794 stocks and JMMB Group 6% dropped 3 cents to US$1.06 with an exchange of 6,869 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading dips on TTSE on Tuesday
Trading on the Trinidad and Tobago Stock Exchange was flat on Tuesday, with more stocks declining than rising and the volume of stocks traded declined 48 percent, with a slightly higher value than on Monday which resulted in 13 securities trading down from 22 on Monday and ended with the prices of two stocks rising, seven declining and four remaining unchanged.
Investors traded 191,557 shares for $2,763,387 versus 370,618 stock units at $2,662,246 on Monday, resulting in an average of 14,735 units trading at $212,568 compared to 16,846 shares at $121,021 on Monday. The average trade for October amounts to 29,755 at $358,068.
The Composite Index shed 4.74 points to close at 1,310.77, the All T&T Index advanced 0.85 points to 1,966.43 and the Cross-Listed Index dipped 1.50 points to settle at 85.28.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Angostura Holdings dipped 80 cents in closing at $24.15 as 68,297 shares passed through the market, Calypso Macro Investment Fund ended at $22, with 20 stocks changing hands, CinemaOne remained at $5.98 after trading 100 stock units. Clico Investment Fund declined 4 cents to close at $29.86 in an exchange of 821 units, First Citizens Group remained at $50.10 with the swapping of 10,190 shares, Guardian Holdings dropped 7 cents to $25.13 with investors exchanging 1,787 units. Massy Holdings shed 1 cent to end at $4.49 with the swapping of 7,132 stocks, National Flour Mills popped 6 cents to $1.65 with an exchange of 250 shares, NCB Financial fell 4 cents to $4.56 with investors transferring 49,904 stocks. One Caribbean Media ended at $3.70 with a transfer of 105 units, Republic Financial advanced $2 to close at $135 in switching ownership of 353 shares, Trinidad Cement lost 2 cents to end at $3.48 in exchanging 50,370 stock units and West Indian Tobacco dipped 10 cents to $21.90 while exchanging 2,228 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up on JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Monday, with the volume of stocks exchanged jumping 739 percent, valued 97 percent more than on Friday, resulting in 10 securities trading, compared to seven on Friday with four rising, three declining and three ending unchanged.
A total of 467,538 shares were traded for US$25,574 up from 55,754 units at US$12,962 on Friday.
Trading averaged 46,754 shares at US$2,557 versus 7,965 units at US$1,851 on Friday, with the month to date average of 40,972 shares at US$2,277 up from 40,613 units at US$2,258 on the previous trading day. September ended with an average of 87,926 units for US$4,746.
The JSE US Denominated Equities Index climbed 4.03 points to end at 211.09.
The PE Ratio, a measure used in computing appropriate stock values, averages 8.5. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending between November and August 2023.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and one stock with a lower offer.
At the close, First Rock Real Estate USD share dipped 0.42 of one cent ending at 7.08 US cents with a transfer of 15,000 shares, Margaritaville lost 0.98 of a cent to end at 14 US cents with just one unit trading, MPC Caribbean Clean Energy ended at 61 US cents with an exchange of 67 stock units. Productive Business Solutions advanced 8 cents to US$1.38, with 6,495 stocks crossing the market, Proven Investments declined 0.97 of a cent in closing at 19.03 US cents in switching ownership of 14,694 stock units, Sterling Investments rose 0.1 of a cent to 2.1 US cents after investors traded 580 stocks. Sygnus Credit Investments USD share remained at 10 US cents with 405 units clearing the market and Transjamaican Highway rose 0.07 of a cent to 0.98 US of one cent, with 425,474 shares crossing the exchange.
In the preference segment, Productive Business 9.25% preference share popped 64 cents in closing at a record high of US$12.14, with 16 units crossing the market and JMMB Group 5.75% remained at US$1.75 after an exchange of 4,806 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Month end dip for Trinidad Exchange
Trading ended with the volume of stocks exchanged rising 39 percent with the value 27 percent lower than on Friday at the close of the Trinidad and Tobago Stock Exchange on Monday, resulting in 22 securities changing hands up from 18 on Friday, with prices of four rising, nine declining and nine remaining unchanged.
Trading resulted in a total of 370,618 shares changing hands for $2,662,459 versus 265,800 stock units at $3,622,246 on Friday.
An average of 16,846 shares were exchanged at $121,021 compared with 14,767 shares at $201,236 on Friday, with trading month to date averaging 29,755 shares at $358,163 compared with 30,591 units at $373,508 on the previous trading day. The average trade for September ended with 45,817 stock units at $463,533.
The Composite Index shed 5.12 points to 1,315.51, the All T&T Index fell 5.87 points to 1,965.58 and the Cross-Listed Index slipped 0.60 points to settle at 86.78.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s remained at $43, trading 39 shares, Angostura Holdings ended at $24.95 after 120 stocks crossed the market, Ansa McAl remained at $53.80 as 91 units passed through the market. Clico Investment Fund dipped 10 cents to $29.90 with 3,701 stock units changing hands, Endeavour Holdings popped 10 cents to $7.10 in trading 1,000 stock units, First Citizens Group gained 5 cents to close at $50.10 with an exchange of 3,013 units. FirstCaribbean International Bank ended at $5 after an exchange of 9,940 stocks, GraceKennedy lost 20 cents in ending at $5 in switching ownership of 65,014 shares, Guardian Holdings advanced 14 cents to $25.20, with 6,141 stocks changing hands. JMMB Group ended at $2 in trading 100 shares, L.J. Williams B share increased 15 cents to $2.20 with an exchange of 21 units, Massy Holdings remained at $4.50, with 1,501 shares clearing the market. National Enterprises dipped 1 cent to $3.25 in exchanging 179,080 stocks, NCB Financial shed 21 cents in closing at $4.60 while trading 77,096 stock units, One Caribbean Media fell 10 cents to a 52 weeks’ low of $3.70 after closing with an exchange of 3,386 shares. Point Lisas remained at $3.25 after a transfer of 10 units, Republic Financial declined $2 in closing at $133 with 20 stock units changing hands, Scotiabank fell 85 cents to close at $77 after exchanging 7,929 shares. Trinidad & Tobago NGL dipped 5 cents to $22 with the swapping of 7,146 stocks, Trinidad Cement ended at $3.50 in an exchange of 200 units, Unilever Caribbean shed 14 cents to $12.90 with investors transferring 500 stock units and West Indian Tobacco remained at $22 as investors exchanged 4,570 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Carib Cement post record profits
Profits at Caribbean Cement Company for the nine months to September came in at a record $4.25 billion up 35.7 percent compared to $3.1 billion in 2021 and almost matches the $4.34 billion of profits for the 2021 fiscal year.
Profit of $1.2 billion after tax was realized for the quarter to September compared to just $44 million in the similar period in 2021, resulting in earnings per share of $1.42 in the 2022 quarter and $5 for the nine months, compared to $3.68 for the nine months in 2021.
Third quarter revenues were lower than that of the June quarter of $6.7 billion, with profit coming lower as well by $240 million. Profit for the full year could end up at $6.50 per share or close to that.
The record profit performance emanates from revenues that rose 12 percent the $6.2 billion in the 2022 September quarter compared to $5.5 billion in the similar quarter of 2021 and $19.7 billion for the nine months this year versus $17.8 billion dollars in 2021. The company had no major repairs and maintenance expenditures during the period to date, unlike in 2021.
Cost of sales for the September quarter this year came out at $3.4 billion compared to $4.4 billion in 2021 but was flat for the year to date compared to 2021 at $10.8 billion.
Yago Castro, the managing director in his report to shareholders in reference to the improved profit performance, stated “that it is primarily due to reduction of cost of sales as a percentage of net sales to 56 percent from 80 percent in the same period last year. This cost reduction was attributed to the company’s decision not to undertake its planned major maintenance through the third quarter of the year compared to 2021 which was executed in July to August, this postponement of the planned maintenance is attributed to the excellent output of some of the cement kiln this year as well as delay in the arrival of key spare parts needed to conduct the general overall works.”
Administrative and other operating expenses increased to $700 million from $592 million for the quarter and rose to $2 billion from 1.85 billion for the nine months. Finance costs rose from $112 million in the 2021 third quarter to $154 million in September 2022 quarter while the nine months cost rose from $412 million to just $430 million in 2022.
Taxation absorb $517 million for the September 2022 two quarter versus $291 million in 2021 and $1.5 billion for the nine months to September 2022 versus $1.1 million in 2021.
Cash flow generated from operating activities amounted to $2.2 billion dollars in the quarter and $3.8 billion for the nine months after paying $1.17 billion in dividends, the company’s cash position improved by $300 million to $1.1 billion in the quarter.
At the end of the quarter shareholders’ equity stood at $18.75 billion, up from $14.8 billion in 2021. Borrowed funds amount to $1.8 billion. Current assets amounted to $7.5 billion while current liabilities ended the quarter at $8.2 billion.
The company announced plans earlier this year to expand the plant capacity by 30 percent which is slated to cost $40 million and is to be completed by the second half of 2024, the chairman of the company Paris-Lyew Ayee reported.
The stock last traded at $57.50 on Friday on the Main Market of the Jamaica Stock Exchange with a PE of 8.8 times this year’s earnings, which is well below the market average of 13.6.