Junior Market at record high on Friday

The Junior Market of the Jamaica Stock exchange is now trading at a new record high of 4,197.38 at 11.40 on Friday, up from 4,104.06 at the close on Thursday, as Express Catering (ECL) climbed to $6, Lasco Manufacturing rose to $5 and Spur Tree Spices hit $3.80.
Since then the market pulled back slightly to trade at 4,196.81.
The Junior Market’s previous highest level was reached on Friday, March 4, when it ended at a record closing high of 4,168.16, up 95.60 points for the day after hitting all-time intraday high of 4,185.95 at 11.45 am that morning.
Trading the shares of ECL is suspended for breaching the 15 percent circuit breaker limit. The JSE Main Index is up to 386,151.14 from Thursday’s close of 384,196.74

10 Junior Market stocks for 10 years run

Most Junior Market listed companies don’t have the depth of management that most Main Market companies have. What most may lack in Management they make for by their agility and ability to grow faster than the more matured counterparts in the Main Market and this feature can deliver above average growth for stock prices. This factor alone can determine winners from losers in business.

Junior Market trades

Some elements are common to companies in both markets; as such, the investors who don’t have the time and inclination to monitor their investments regularly may want to invest for the long haul with the expectation that their investment will grow appreciably over time. There are some factors to consider in investing long term, these include continued growth of companies, inflation, possible shifts in government policies as well as social and economic policy changes that can affect investment returns in the short and long term.

Over the next ten years, many of the companies in the Junior Market could see changes in the leadership of many of the Junior Market companies and change in ownership as some of the majority owners retire. The ownership shift may be negative or positive, but it is a major factor. Continuity of ownership is a major factor to consider and this is more critical for Junior Market companies, with the largest shareholders being the lead executive management.

Access Financial Services is the first company to list on the Jamaica Stock Exchange Junior Market and enjoyed years of growing revenues and profit, but the stock price declined sharply in 2020 and 2021 as profits fell in the fiscal year 2020 and 2021 due to heightened provision for doubtful loans and slowdown in lending. Corrective measures were put in place and loans and profits are growing again, with improvement in the economy and a reduction in unemployment. The company stands a great chance of continuing to grow to provide the unbanked with alternative financing. The potential for tapping into this underserved area would position AFS as an interesting company to follow over the next ten years.

Elite Diagnostic – Health care services are a never ending need and demand will continue to grow as the local population ages and individual wealth improves. The company recently expanded from one location to three. They encountered major operating problems with machinery that increased cost and negatively affected revenues but now seems over that, with revenues growing again. They have plans for another branch to be established, which is delayed for the time being, but they added to machinery at the Hope Road branch to meet increasing demand. This company should be able to innovate and stay relevant for years to come. The company has the potential to expand into other areas of the country, bringing services closer to the consumers and generating higher income and profit.

Express Catering provides services directly to the tourism industry, with its restaurant operations housed within the Sangster International Airport. The future is tied into the growth in that industry, seemingly poised for more growth with the continued expansion of hotel rooms on the country’s north coast. The airport in Montego Bay is expanding and will provide opportunities for greater expansion for the company. Now focused solely on Montego Bay but could well move into Kingston, bringing additional growth possibilities.

Fontana stock is richly priced currently, as such, the time may not be right to buy into it as it could well fall back in price. It stood the test of time and seemed set for the next level of expansion and performance. It possesses good management has room for expansion by adding new products or acquiring others pharmacies as current owners of other existing pharmacies retire. A new branch is planned for the Portmore to come on stream in late 2022. The area with a growing population in Jamaica and therefore company’s expansion should attract good and profitable business. Spanish Town, another area, earmarked, with Montego Bay, could follow. The company is well positioned to acquire the many family owned pharmacies when the owners decide to retire.

General Accident has an excellent track record of growing the business and has adequate liquid funds to fund expansion and meet its operating commitments. The Jamaican operation is very profitable. Recently they expanded into Trinidad and Barbados, which could add to profits in 2022 but will be highly beneficial to the growth in revenues and profits in the years to come. This expansion will result in reduced reinsurance costs as the company spreads the risk over a wider geographical area. Further regional expansion is expected and will improve revenue and profit growth and swell cash funds for continued attractive dividend payments leaving sufficient amounts for investments and helping in reducing reinsurance costs. Guyana is growing strongly from oil production and will be enticing for the company to expand into that market, either directly or through one of the entities in the eastern Caribbean.

Fosrich has diversified into manufacturing pipes and has also gone into refurbishing electrical transformers, two new areas that it has a competitive advantage and is generating profits from. These ventures resulted in diversification away from being solely a retailer in the construction and energy sectors. With a growing Jamaican economy, that company will find room to increase revenues and profits as the years roll on and sales within the region.

The Beechwood Av. gas station

Future Energy is relatively a small player in the sector and has much room for growth, with only 16 service stations under its brand. The company is branching out into LNG and LPG gas sales to expand revenues in the future. The company plan to grow the number of service station under its name to 22, within three years, including one more to be owned and operated by the company. The great scope for expansion across the country makes FESCO one to watch over the next ten years as it could expand service stations in many more areas within the country. The stock is currently highly overvalued, and any investment should await a big pullback in price.

Honey Bun has made great strides since it was listed on the Junior Market in 2011. In 2009 sales were $404 million and has climbed to $1.67 billion in 2020 and rose climbed 28 percent to $2.145 billion for the 2021 fiscal year, with profit before tax moving from $191 million to $290 million. The impressive growth continued for the first quarter to December last year, with a net profit of $45.5 million that rose 31 percent above the prior year from sales that grew 44 percent to $665 million over the prior year. The company enjoys good Management that is expected to continue guiding the operations successfully, resulting in increased revenues and profit at attractive rates.

Jamaican Teas.

Jamaican Teas is a diversified group and continues to add new products. Exporting has been a strong growth area, with North America and the Eastern Caribbean being big markets for them, with sales exceeding those on the Jamaican market. The group spun off its investment arm into a separately listed company, allowing for greater focus on an area that has been very profitable for them. The manufacturing arm is to be spun off into a separate company that will allow for greater focus on that operation and provide greater exposure for the Caribbean Dreams brand. The group is unique amongst the Junior Market companies due to its diverse business. The strong and continued growth in exports is a great asset that is expected to provide a good basis for continued growth. The group is cash flow positive and possesses the ability to expand from mergers and acquisitions. The investment arm offers good prospects to add to profit going forward.

SOS anticipates maximising profits from every business line in 2022

Lasco Manufacturing is a low cost manufacturer with room for expansion either by producing its own brands or products under license from others. The business is cash flow positive and is building up cash at a healthy pace, with loans taken on to expand the factory almost fully paid off. They are in a good position to acquire brands or other entities and do production for third parties. It could be the subject of an acquisition by others, considering the main owner cannot be very far from retirement.

Stationery and Office Supplies is more than the name implies. While stationery and office equipment are the main lines, it also has a book manufacturing business that manufactures exercise books for children’s note pads. It also operates a paper shredding business with banks being clients of theirs and other entities, which is a high profit margin part of the business. They have stood the test of time and seem set for the next level. They possess good management that will deliver strong gains in the years ahead. The company posted its best fourth quarter results in the past year and that performance is said to have carried over into 2022, with revenues for the first two months running ahead of 2021. Looking forward, expect to see expansion by acquisitions and adding new products.

Big jump for JSE USD Market

Trading on Thursday at the close of the Jamaica Stock Exchange US dollar market ended with the volume of shares changing hands declining 83 percent, with a 92 percent lower value than on Wednesday and ended with the JSE US Denominated Equities Index jumped 12.08 points to end at 214.45.
A total of eight securities traded, up from seven on Wednesday with three rising, three declining and two ending unchanged.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.7. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years up to August 2022.
Overall, 26,308 shares traded for US$2,166 compared to 157,965 units at US$27,627 on Wednesday. Trading averaged 3,289 units at US$271, down from 22,566 shares at US$3,947 on Wednesday, with a month to date average of 47,031 shares at US$4,724 versus 50,271 units at US$5,054 on the previous day. February ended with an average of 87,719 units for US$9,318.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling prices and one with a lower offer.
At the close, First Rock Capital USD share ended unchanged at 7.95 US cents after exchanging 370 shares, Margaritaville dropped 2.5 cents to close at 16 US cents in trading 148 stocks, Productive Business Solutions increased 15.19 cents to end at US$1.19 in trading 83 units. Proven Investments shed 0.38 of a cent in ending at 23.02 US cents, with 6,238 stock units crossing the market, Sterling Investments advanced 0.27 of a cent in closing at 2.27 US cents in an exchange of 12,991 units. Sygnus Credit Investments USD share fell 0.01 of a cent to end at 12.89 US cents after trading 360 stock units. Sygnus Real Estate Finance USD share climbed 2.46 cents in closing at 15.96 US cents with 1,118 stocks changing hands and Transjamaican Highway finished at 0.89 US cents with an exchange of 5,000 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Big leap in Main Market trading

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Trading on the Jamaica Stock Exchange Main Market surged on Thursday, with the volume of shares traded leaping 509 percent over Wednesday’s level, with the value jumping 187 percent to $1.76 billion as market activity led to rising stocks exceeding those declining by a wide margin. 
The All Jamaican Composite Index lost 2,001.01 points to 432,586.16, the JSE Main Index fell 1,679.51 to end at 384,196.7 and the JSE Financial Index slipped 1.01 points to 92.96.
Trading ended with 59 securities up from 57 on Wednesday, with 35 rising, nine declining and 15 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.4. The PE ratio for the JSE Main and USD Market closing quotes is based on ICInsider.com earnings forecasts for companies with financial years ending to August 2022.
Overall, 206,926,996 shares were exchanged for $1,764,565,530 versus 33,966,132 units at $614,323,672 on Wednesday. Sagicor Real Estate Fund led trading with 191.92 million shares for 92.7 percent of total volume, followed by Wigton Windfarm with 6.29 million units for 3 percent of the day’s trade, Sterling Investments had 1.99 million units trading accounting for 1 percent market share and JMMB Group 7.35% – 2028 ended with 1.25 million units changing hands for 0.6 percent market share.
Trading averaged 3,507,237 units at $29,907,890, compared to 595,897 shares at $10,777,608 on Wednesday and month to date, an average of 664,218 units at $7,665,831,compared to 474,898 units at $6,184,700 on the previous trading day. February closed with an average of 392,520 units at $3,199,976.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments lost $3.05 to $87.95 in exchanging 159,587 shares, Caribbean Cement popped $2 to close trading at $69.50, with 23,377 stocks crossing the market, Carreras climbed 31 cents to $8.94 with the swapping of 169,951 units. Eppley Caribbean Property Fund increased $2.60 to end at $40.70 after exchanging 1,000 stock units, GraceKennedy gained 40 cents in closing at $103.90 while 663,633 stocks changed hands, Guardian Holdings rallied $5 in ending at $555 after exchanging 383 stock units. Jamaica Producers rose $1.42 to $22.95 in trading 7,208 units, JMMB Group advanced 49 cents to end at $42.99 with 165,509 shares passing through the market, Key Insurance gained 45 cents in ending at $4.60 with 9,515 units changing hands. Kingston Wharves rallied 92 cents to close at $39.95 in switching ownership of 6,468 stock units, Massy Holdings dropped $1.96 to $100 after 34,806 stocks crossed the exchange, NCB Financial rose $2.31 to end at $115.81 in an exchange of 42,712 shares. Palace Amusement advanced $30 to close at $1020, with ten shares clearing the market, PanJam Investment climbed 90 cents to $66.99 with an exchange of 5,669 stocks, Portland JSX gained 51 cents in closing at $9 and trading 206 units. Proven Investments shed 40 cents to close at $35.60, with 74,242 stock units changing hands, Salada Foods popped 36 cents in closing at $6.58, with 5,579 stocks crossing the market, Seprod declined $1.45 to $56.50 in switching ownership of 9,564 units and Victoria Mutual Investments climbed 49 cents in ending at $6.60 in an exchange of 55,871 shares.
In the preference segment138 Student Living Preference share advanced 92 cents to end at $10.16 with the swapping of 112 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Nice Junior Market rally

Stocks mostly rose in trading on Thursday on the Jamaica Stock Exchange Junior Market, with the Market Index jumping 40.52 points to 4,104.06 as the volume of stocks traded surged 217 percent more than on Wednesday as the value jumped by 226.00 percent.
A total of 40 securities traded down from 44 on Wednesday, with 21 rising, eight declining and 11 closing unchanged.
The PE Ratio, a measure used in computing appropriate values for stocks, averages 22.2 for the Junior Market. The PE ratio of stocks in the chart below is based on ICInsider.com’s forecasted earnings for companies with financial years to the end of August 2022.

Overall, 51,849,620 shares traded for $167,982,544 compared to 16,377,032 units at $51,552,856 on the Wednesday. Spur Tree Spices led trading with 37.14 million shares accounting for 71.6 percent of total volume, followed by Jetcon Corporation, 3.24 million units for 6.3 percent of the day’s trade,  FP Limited with 2.98 million units for 5.7 percent market share. EduFocal chipped in with 2.53 million units for 4.9 percent market share, Future Energy Source traded 1.35 million units for 2.6 percent market share and Tropical Battery ended with 1.22 million units for 2.4 percent market share of the overall volume.
Trading averaged 1,296,241 shares at $4,199,564 in contrast to 372,205 shares at $1,171,656 on Wednesday with the month to date, averaging 639,741 units at $2,373,786 compared to 600,606 units at $2,264,947 on the previous trading day. February closed with an average of 370,064 units at $1,402,517.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and two with lower offers.
At the close, Access Financial lost $1 to $20 in switching ownership of 5,271 shares, Blue Power shed 19 cents to end at $4 in exchanging 3,127 stock units, Cargo Handlers rose 80 cents in closing at $11.40 with an exchange of 12,093 units. Caribbean Assurance Brokers gained 16 cents to close at $2.20 with 98,983 stocks changing hands, EduFocal popped 23 cents to $3.37 in exchanging 2,532,213 stocks, Everything Fresh increased 11 cents to $1.21, with 11,031 units changing hands. Future Energy Source advanced 10 cents to close at $6.30 after 1,350,570 stock units crossed the exchange, Jamaican Teas rallied 10 cents to end at $3.71 after exchanging 599,034 shares, Jetcon Corporation climbed 21 cents to $1.11 with the swapping of 3,243,403 stocks. Lasco Distributors popped 24 cents to $3.79, with 13,228 stock units crossing the market, Limners and Bards rallied 10 cents to close at $3.30 after an exchange of 442,861 shares Main Event declined 97 cents to $8, with 84,780 units clearing the market. Paramount Trading gained 13 cents in ending at $1.75 after trading 4,859 stock units, Spur Tree Spices advanced 25 cents to $3.60 with 37,136,928 units passing through the exchange, SSL Venture dropped 50 cents to end at $1.50 as 313,121 shares were traded and tTech increased 23 cents in closing at $4.29 after exchanging 207 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Stocks closed mixed on Trinidad Stock Exchange

Market activity ended on Thursday and resulted in more stocks rising than falling at the close of trading, but the market ended with the indices turning mixed results after the volume trading jumped 112 percent, with a 26 percent higher value than on Wednesday, at the close of the Trinidad and Tobago Stock Exchange.

Trinidad & Tobago Stock Exchange Head Quarters

A total of 20 securities traded up from 18 on Wednesday, with seven rising, four declining and nine ending unchanged. The Composite Index gained 11.41 points to settle at 1,466.18 the All T&T Index dropped 12.62 points to settle at 2,094.73 and the Cross-Listed Index climbed 5.20 points to settle at 111.13.
Overall 842,830 shares traded for $7,505,068 compared to  397,112 units at $5,937,284 on Wednesday. An average of 42,142 units traded at $375,253 compared to 22,062 shares at $329,849 on Wednesday, with trading month to date averaging 34,878 units at $453,602 versus 34,412 units at $458,624, previously. The average trade in February amounts to 47,858 units at $516,870.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Angostura Holdings remained at $20.21, with 70 shares changing hands,  Ansa McAl shed 1 cent to end at $57.50 with the swapping of 42 units, Ansa Merchant Bank increased 59 cents ending at $41 after 10,028 stock units crossed the market. Calypso Macro Investment Fund rallied 25 cents to end at a 52 weeks’ high of $20 after exchanging 100 stocks, Clico Investment Fund lost 24 cents to close at $29.65 after exchanging 35 shares, First Citizens Group fell $2.69 to close at $51.31 with 1,309 units changing hands. FirstCaribbean International Bank popped 2 cents to $6.08 with an exchange of 4,064 stock units, GraceKennedy ended unchanged at $6, with 100 stocks crossing the exchange, Massy Holdings finished at $6 after trading 782,778 shares. National Enterprises gained 1 cent to end at $2.82 in an exchange of 171 units, National Flour Mills finished at $1.84 after exchanging 30 stocks, NCB Financial Group rose 67 cents to close at $6.72 after trading 100 stock units. One Caribbean Media remained at $4.15, with 472 stocks clearing the market, Point Lisas ended unchanged at $3.50 in trading 25 units, Republic Financial Holdings dipped 1 cent to end at $141 in exchanging 7,479 shares. Scotiabank climbed 10 cents in closing at a 52 weeks’ high of $82 while 8,930 stock units changed hands, Trinidad & Tobago NGL advanced 15 cents to $20.40 in switching ownership of 8,399 shares, Trinidad Cement ended unchanged at $3.50 after trading 4,500 stock units. Unilever Caribbean finished at $15 in switching ownership of 1,854 units and  West Indian Tobacco ended at $24 after 12,344 stocks passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

10 JSE Main Market stocks + 1 for 10 years

Some investors have time and inclination to monitor their investments regularly, but the vast majority do not. In the latter case, investors want to invest for the long haul, expecting that their investment will grow appreciably over time.
There are many factors to consider; these include continued growth of companies, inflation, possible shifts in government policies, and social and economic policy changes that can affect investment returns in the short and long term.
Junior Market stocks have some features that investors should pay observe. Most Main Market stocks have controlling interest that is likely to ensure continuity of ownership for years to come. The same is not so for Junior Market companies where there are few companies where controlling ownership is assured long-term.

Barita public stock offer pulled money away from other JSE stocks.

Barita Investments – Bankers are not supposed to be bright; they must be careful; this is an adage within the financial community worldwide. Tell that to the new management at Barita. Maybe if they were told, they might have avoided the negative comments they had to face in 2021. The directors can take comfort that JMMB Group suffered years of rumours about imminent failure, but they persevered and have prospered regardless and are now highly regarded. Barita stands an excellent chance of doing just that.
The recent focus on Barita is partially due to the current management taking a sleepy company and aggressively expanding into new and profitable areas and seems to be disrupting the status quo. They are aggressive and disruptive and are willing to go into areas with good growth potential when others take a more conservative posture. This approach is not risk free, to date, they seem to have prospered and their shareholders love it, having a rich stock price and healthy dividend payments. Additionally, Jamaica’s financial landscape is changing and providing increasing opportunities for growth of newer financial products. Barita has grown based on an increased capital base that stands them in good stead to prosper if management handles the resources at its disposal well. The company could be a significant player in financial services in the next ten years. They have taken a posture of paying out most profits and then going back to the market for added capital. That formula has worked well so far and has rewarded shareholders positively.

GraceKennedy has diversity in products, services, and geographic locations, making them one for the future, with a relatively significant presence in the USA and UK markets. They can enjoy good annual growth for years to come. The diversified product line put them in good stead to benefit from what seems set to be a reasonable period of economic growth for Jamaica. The Group has been acquiring new entities to expand the operations and geometric growth; this will give them increased bargaining power that can lower costs and drive revenues. Investors should not ignore the value of the Grace Brand will continue to be more valuable as the Group continues to make inroads into the international market. Currently, the stock is undervalued. Investors who can wait for the payoff could benefit from unlocking value down the road.

Jamaica Broilers’ product demand and global diversity will see them making money and providing good investment returns. Expected growth in the local tourism sector and the company’s efforts to expand its reach in the US market should augur well for investors from a company that is well managed and produces products that are in high demand in the local market. The negative is the politically sensitive nature of the main product. Management has been able to navigate such challenges and prospered over the years and should be able to do that in the future with their strong links to the farming community.

JMMG Group stock is severely undervalued currently. In addition, regional diversification, the variety of products and services it offers the public, and technology will drive revenues for the next ten years. The company has operations in the Dominican Republic, which is an excellent base for them to continue strong growth in that market with a population of 11 million, nearly four times the size of Jamaica. There is room for remarkable growth in that market that is not a financially developed market like Jamaica. Their banking arm in Jamaica and Trinidad is relatively small and they could enjoy above average growth that would be good for increased profit in the future.

Kingston Wharves has been around for decades and is highly profitable. It controls a significant portion of the logistics and distribution chain for imports and transhipment business, making them one to watch with growth expected in the Jamaican economy and growth in the transhipment. They should grow even faster as they cater to the local market and the expanding transhipment of goods within the region.

NCB Group stumbled in 2020, with the advent of the COVID 19 pandemic that saw major dislocations in businesses in Jamaica and worldwide, including the closure of the tourism industry. The Group suffered from a high degree of nonperforming loans, which is provided against and losses in the investment portfolio. The fourth quarter results for the just concluded year to September show that the worse is behind them and they should see growth in earnings for 2022. The Group is spread throughout the Caribbean and is involved in commercial and investment banking and insurance. Strong growth going forward will be dependent on a buoyant Jamaican economy and, to a lesser degree, that of Trinidad, where Guardian Holding is headquartered. Along the way, investors can expect a good level of dividends as compensation for waiting. The stock is currently in demand, but now could be the best time to start accumulating it.

Stephen Facey Chairman & Paul Hanworth Chief Operating Officer

PanJam Investment spans an array of activities from property development and ownership, many of them in prime areas in Jamaica, Investments, a significant owner in Sagicor Group and hotels. They are currently pushing into property investments in downtown Kingston and Montego Bay, the latter to be a hotel in the Montego Freeport area geared to business visitors. Buying into PanJam gives investors a strong involvement in Sagior Group, with the company owning around 30 percent of the shares. The Group has a long history of good performance and the suite of assets and quality management place them in an excellent position to grow at an attractive pace over the next ten years. While at it, don’t forget the heightened level of inflation that is currently afoot worldwide. PanJam, with its real estate and stock market portfolio, is well positioned to generate positive returns form as a result and protect investors against losing value in their investment in the company.

Radio Jamaica has lots of scope to grow revenues that will increase as the economy grows and swell profits as most of the revenues will fall to the bottom-line as operating costs are partly fixed. Most investors continue to focus on the old RJR but fail to recognize the Group’s invaluable assets, including the highly watched and profitable television station. The digital footprint is not to be ignored, with the Gleaner’s website being a big winner in the future, with the RJR site following. There are many developments taking place within the Group that will add to revenues and profit in the future. The digitization of television will create more flexibility in targeting markets with the signals and allow for expansion and increased income from the offerings it currently owns. Investors can look forward to reasonable dividend payments as profits grow in the future.

Sagicor Group & PanJam hit new closing highs.

Sagicor Jamaica is historically a strong performer that will benefit from continued growth in the Jamaican economy and buoyancy in the financial products that provide high returns. Apart from life insurance, they are involved in Health insurance and general insurance, investments, investment brokerage and banking. They control a sizeable portion of the local market and have a presence outside of Jamaica.

Scotia Group has had a long history of growing profits and dividends, with the stock price delivering attractive gains to investors over the years. In more recent years, things have not all gone well for the Group, with significant shifts in the financial market as new players and products came into the market and increased aggressiveness from the market leader NCB. The Group is now focusing on restructuring its branch network that will lead to lower costs while loans will be growing and driving interest income to help add to profits. The recent increase in interest rates will be highly beneficial to the Group. They will be generating more revenue from the government bonds as interest rates get some elevation from the Bank of Jamaica’s recent moves.

Wisynco Group is one of Jamaica’s larger manufacturing and distribution companies. The company has accumulated a wad of cash and will continue to do so with a very profitable operation that generates positive free cash flows. The growing buildup of cash places them in a healthy position to expand the group. The Group is involved in the manufacturing and distribution of products mainly for the local consumer market. It is a significant supplier to the tourism industry, with around 15 percent of the company’s goods. The sector continues to see growth with new hotel rooms being built and plans for more to come on stream in the future. It does not hurt with the company having a good management team, one of the most important elements in ensuring continued success in the business into the future.

Main Market rallies

Market activity ended on Wednesday, with the volume of shares trading declining 17 percent and the value jumping 159 percent higher than on Tuesday at the close of the Jamaica Stock Exchange Main Market as the market indices rose moderately.
The All Jamaican Composite Index rallied 1,681.76 points to settle at 434,587.17, the  JSE Main Index and the JSE Financial Index rose 0.66 points to settle at 93.97. Trading ended with 57 securities compared to 55 on Tuesday, with 26 rising, 24 declining and seven ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 16.1. The PE ratios for the JSE Main and USD Market closing quotes are based on ICInsider.com earnings forecasts for companies with financial years ending to August 2022.
Overall, 33,966,132 shares traded for $614,323,672 versus 41,007,581 units at $237,565,083 on Tuesday. Radio Jamaica led trading with 11.11 million shares for 32.7 percent of total volume, followed by Wigton Windfarm, 8.46 million units, with 24.9 percent of the day’s trade. JMMB Group ended with 5.23 million units for 15.4 percent market share, Transjamaican Highway chipped in with 1.66 million units for a 4.9 percent market share. Carreras traded 1.42 million units for a 4.2 percent market share and JMMB Group 7.35% – 2028, after an exchange of 1.16 million units for 3.4 percent market share.
Trading averages 595,897 units at $10,777,608, compared to 745,592 shares at $4,319,365 on Tuesday and month to date, an average of 474,898 units at $6,184,700, compared to 466,578 units at $5,868,903 on the previous trading day. February closed with an average of 392,520 units at $3,199,976.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close, Barita Investments climbed $1.35 to close at $91 after trading 57,043 shares, Berger Paints rose 40 cents to $12 in an exchange of 201 units, Caribbean Cement lost $2.50 in ending at $67.50 with 10,353 stocks changing hands. Eppley fell 71 cents in closing at $41.99 in switching ownership of 1,472 stock units, Eppley Caribbean Property Fund declined $2.60 to $38.10 after exchanging 1,711 shares, GraceKennedy rallied $1.40 to $103.50, with 576,122 stock units crossing the exchange. Guardian Holdings popped $5 to end at $550 after 18,151 units passed through the market, Jamaica Producers dropped $1.77 to close at $21.53, with 6,327 stocks changing hands, Jamaica Stock Exchange rose 30 cents to $17.30 in an exchange of 17,154 units. JMMB Group advanced 50 cents in closing at $42.50 after exchanging 5,226,226 stock units, Kingston Properties increased $1.30 to close at $9.50 in an exchange of 4,861 stocks, Kingston Wharves shed $2.92 to $39.03 after 5,995 shares changed hands. NCB Financial rallied $1.48 to end at $113.50 with the swapping of 16,089 stock units, Palace Amusement increased $40 in closing at $990 while exchanging 34 units, PanJam Investment declined 91 cents after ending at $66.09 and trading 101,777 stocks. Portland JSX climbed 32 cents in ending at $8.49, with 1,199 shares clearing the market, Proven Investments popped $2 in closing at $36 with an exchange of 12,456 stock units, Scotia Group dropped 30 cents to end at $34.50 with an exchange of 165,558 units. Seprod gained $7.43 to close at $57.95 after 103,417 stocks crossed the market, Supreme Ventures fell 55 cents to $17.95 in switching ownership of 4,940 shares, Sygnus Real Estate Finance lost 99 cents in ending at $16.01 as 3,536 shares changed hands.
In the preference segment138 Student Living Preference share rose $1.14 to close at $9.24 after exchanging 109 stocks, Jamaica Public Service 9.5% shed $947.69 to $2650, with 58,119 stock units crossing the exchange and JMMB Group 7.25% preference share advanced 49 cents in closing at $2.80 in an exchange of 355 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Slippage for JSE USD Market

Trading ended on the Jamaica Stock Exchange US dollar market on Wednesday, with the volume of shares changing hands declining by 39 percent after a 58 percent increase in the value than on Tuesday. Trading led to seven securities trading, up from six on Tuesday, with two rising, three declining and two ending unchanged.
The JSE US Denominated Equities Index fell 2.24 points to end at 202.37.
The PE Ratio, a measure used in computing appropriate stock values, averages 14.3. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years up to August 2022.
A total of 157,965 shares traded for US$27,627 compared to 257,151 units at US$17,522 on Tuesday. Trading averaged 22,566 units at US$3,947 compared to 42,859 shares at US$2,920 on Tuesday and month to date, averaging 50,271 shares at US$5,054 versus 52,191 units at US$5,130 on the previous day. February ended with an average of 87,719 units for US$9,318.
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, First Rock Capital USD share shed 0.05 of a cent to close at 7.95 US cents in trading 3,372 shares, Margaritaville dropped 1.45 cents in closing at 18.5 US cents, with 500 stock units clearing the market, Productive Business Solutions gained 1.81 cents to end at US$1.038 after trading 47 stocks. Proven Investments popped 0.37 of a cent in ending at 23.4 US cents in exchanging 101,001 units, Sygnus Credit Investments USD share slipped 0.04 of one cent to 12.9 US cents, with 9,133 stocks changing hands and Transjamaican Highway ended unchanged at 0.89 of a US cent after trading  42,667 stock units.
In the preference segmentJMMB Group 5.75% remained at US$2.02 after an exchange of 1,245 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Junior Market inched higher on Wednesday

Trading activity declined on Wednesday, with the volume of stocks traded falling 41 percent and the value dropping 47 percent behind Tuesday’s trades on the Jamaica Stock Exchange Junior Market leaving the market index just above the close on Tuesday.
Overall, 44 securities trading compared to 45 on Tuesday and ended with 19 rising, 20 declining and five closing unchanged, leaving the Junior Market Index advancing just 6.87 points to settle at 4,063.54, after hitting just over 4,123 points shortly after the market opened.
The PE Ratio, a measure used to compute appropriate stock values, averages 21.8. The PE ratio of each stock in the chart below is based on ICInsider.com earnings forecast for companies with financial years up to August 2022.
Overall, 16,377,032 shares traded for $51,552,856 compared to 27,861,205 units at $97,674,911 on Tuesday. JFP Limited led trading with 4.48 million shares for 27.4 percent of total volume followed by EduFocal, 3.41 million units for 20.8 percent of the day’s trade, Paramount Trading, 1.37 million units for 8.4 percent market share, Lasco Distributors chipped in with 1.01 million units with 6.2 percent market share, Consolidated Bakeries and General Accident each traded 1.0 million units for 6.1 percent market share each.
Trading averaged 372,205 shares at $1,171,656 versus 619,138 shares at $2,170,554 on Tuesday with month to date, averaging 600,606 units at $2,264,947 compared to 616,634 units at $2,341,670 on the previous trading day. February closed with an average of 370,064 units at $1,402,517.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, AMG Packaging declined 10 cents in ending at $3 after exchanging 159,587 shares, Blue Power rose 18 cents to close at $4.19 in trading 3,153 units, Cargo Handlers shed 95 cents to $10.60, with 5,831 stocks changing hands.  strong>Caribbean Cream rallied 51 cents in closing at $5.23 after exchanging 139 stock units, Derrimon Trading climbed 17 cents to end at $2.70 with the swapping of 30,411 stock units, Dolphin Cove gained $1 to close at $27 while exchanging 66,796 stocks. EduFocal lost 13 cents to end at $3.14, with 3,409,042 shares crossing the market, Elite Diagnostic increased 11 cents in ending at $3.02 after 41,526 units changed hands, Everything Fresh dropped 11 cents to $1.10 in exchanging 51,967 stock units. Express Catering rose 20 cents in closing at $5.23 in trading 44,755 units, Fosrich popped 35 cents to $16.35, with 44,152 shares crossing the market, Honey Bun rallied 88 cents to end at $10 trading 20,739 stocks. JFP Limited fell 10 cents to close at $1.25 in an exchange of 4,484,237 units, Knutsford Express fell 55 cents in closing at $7.45 with an exchange of 3,210 stocks, Lasco Manufacturing declined 35 cents to $4.55 in switching ownership of 238,630 shares. Limners and Bards dropped 10 cents in closing at $3.20 after 91,413 stock units crossed the exchange, Lumber Depot climbed 13 cents to $3.50 with 133,403 stocks changing hands, Mailpac Group shed 21 cents to end at $3.08 after exchanging 359,901 shares. Spur Tree Spices lost 13 cents in ending at $3.35 after exchanging 244,406 units, Stationery and Office Supplies rose 45 cents to close at $7.49 after trading 16,100 stock units, Tropical Battery popped 17 cents ending at $2.35 in switching ownership of 644,617 shares and tTech increased 16 cents in closing at $4.06 with the swapping of 906 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.