Emerging markets — Page 488

New 52 weeks’ high for Witco

December 4, 2019 by IC Insider.com

West Indian Tobacco gained $1 to close at a 52 weeks’ high of $41 with investors exchanging more than 9,000 shares as some selling came out.
At the close of the market, bids to buy the stock was for 430 units at $40.01 and closed with 854 stocks offered for sale at $41.
At the close of the market, the Composite Index was unchanged on Wednesday at 1,444.91 points. The All T&T Index gained 8.12 points to 1,819.68, while the Cross Listed Index shed 1.12 points to close at 145.00 as prices of 5 stocks rose, 1 declined while 9 remained unchanged.
In the overall market, investors traded 304,217 shares amounting to $3,580,067 from an exchange of 15 securities, against 17 on Tuesday, resulting in trading in 153,598 shares amounting to $1,718,205.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at 3 stocks with bids lower than their last selling prices and one with a lower offer.
Gains| Clico Investment Fund rose 5 cents and settled at $24.45, with 45,160 units, First Citizens Bank closed with a gain of 95 cents and completed trading at record high of $43, with 686 stock units crossing the market, Scotiabank gained 5 cents and completed trading at $59.80, with 800 units. Trinidad & Tobago NGL gained 2 cents and ended trading of 16,319 shares at $21.12 and West Indian Tobacco rose $1 to close at a 52 weeks’ high of $41, with 9,160 changing hands.
Losses| NCB Financial dropped 20 cents and settled at $11, with 48,409 units crossing the exchange.
Firm Trades| Agostini’s traded 29,330 shares at $24, First Caribbean International Bank ended at $8.22, swapping of 12,000 shares, Guardian Media completed trading at $7.80, after exchanging 243 shares. JMMB Group ended at $2.40, after exchanging 17,500 shares, Massy Holdings ended at $59.75, with 615 units crossing the exchange, National Enterprises concluded at $5.55, with 4,642 units. National Flour ended at $1.40, with 100,353 stock units changing hands, One Caribbean Media concluded at $9.75, with 7,800 units crossing the exchange and Trinidad Cement ended at $1.95, with 11,200 units crossing the exchange.

Prices of securities trading are those at which the last trade took place.

Filed Under: Stock Market, TTSE Market Tagged With: Agostini's, Clico Investments, Daily Trading, Emerging markets, Emerging Stock, First Caribbean International Bank, First Citizens, Guardian Holdings, JMMB Group, Massy Holdings, National Enterprises, National Flour, NCB Financial Group, One Caribbean Media, Sagicor Financial, Scotiabank, Trading Activity, Trinidad & Tobago NGL, TTSE, West Indian Tobacco

Profit stays strong at Sagicor Group

December 4, 2019 by IC Insider.com

Sagicor Group last traded at $66 on the JSE.

Profit at the Jamaican based Sagicor Group climbed 26 percent in the September quarter to $4.5 billion from $3.54 billion in the 2018 quarter with profit for the nine months to September, rising 28 percent to $11.3 billion from $8.8 billion in the 2018 period.
Profit before tax rose by just 8 percent in the quarter to $5.23 billion from $4.85 billion and 27 percent for the year to September to $14.5 billion from $11.47 billion in 2018.
“The main contributing factors were the depreciation of the Jamaican dollar, which positively impacted realized and unrealized gains attributable to US dollar positions and the 36 percent appreciation of the Jamaica Stock Exchange Main Market indices, benefitting the Group by way of trading gains and capital appreciation,” a statement from the chairman and CEO stated.
Net profit attributable to shareholders continues an upward trend from the start of the financial year, with Q1 posting profit of $2.7 billion and moving to $3.7 billion in Q2 and $4.4 billion in the current quarter. Earnings per stock rose to $1.15 for the September quarter compared to 91 cents in the 2018 quarter, and $2.79 for the nine months to September, versus $2.27 year to September 2018.
Total income rose 28 percent for the quarter to $25 billion from $19.5 billion and 31 percent for the year to date to $67.5 billion from $51.48 billion in 2018. “Contributing to the overall revenue outturn in the September quarter was a 23 percent increase in net premium income, investment revenue of 28 percent and an increase of 10 percent in fees and other income,” the management stated in their report accompanying the quarterly.
The results for the nine months to September reflected gains of 18 percent in net premium revenue, to $33.8 billion and 23 percent for the September quarter to reach $12.7 billion while investment income climbed 42 percent in the nine months to $19.3 billion and 28 percent for the quarter to $7.4 billion. Fees and other income rose 16 percent to $10.5 billion and 10 percent in the quarter to $3.7 billion.
Insurance benefits, administrative and other expenses climbed 37 percent to $19.46 billion from $14.24 billion, compared to a 35 percent increase to $53.66 billion from $39.87 billion in 2018 for the year to date.

Net insurance benefits rose 28 percent in the quarter to $8 billion from $6.3 billion in 2018 and from $19 billion to $21.2 billion for the nine months.
Administrative expenses climbed 17 percent in the quarter to $5.2 billion from a similar period in 2018 and 16 percent in the nine months to $15.3 billion.
For the nine months to September, the group’s segment results show Individual Insurance revenues rising a healthy 24 percent to $25.8 billion from $20.9 billion in 2018 but resulting in segment profit falling from $4.1 billion to $3.8 billion. Investment Banking accounted for $4.5 billion of revenues in 2019, up 67 percent from $2.7 billion in 2018, with profit nearly doubling to $2 billion from $1.1 billion. Employee Benefits revenues climbed from $17.6 billion in 2018 to $20.4 billion, and profit rising from $2.9 billion to $3.2 billion and Commercial Banking revenues rose 19 percent from $8.3 billion in 2018 to $9.9 billion with profit hitting $1.95 billion from $1.4 billion in 2018. All other segments added revenues of $6.4 billion in 2019 from $2.9 billion, with profit rising from $270 million in 2018 to $415 million.
The stock last traded on the JSE Main Market at $66 for a PE ratio of 16.5 compared to a market average of 19, an indication that the price is undervalued.
At the end of September, shareholders’ equity stood at $88.4 billion up from $73 billion at the end of September 2018. Assets ended the period at $458 billion inclusive of financial investments of $196 billion, cash and bank balances of $25 billion and liabilities at $338 billion.
Earnings per share came out at $1.15 for the quarter and $2.79 for the nine months. IC Insider.com is forecasting $4 per share for PE of 16.5 times earnings at the last traded price of $66.
Sagicor Group results for the nine months to September include the consolidation of the new subsidiaries, Sagicor Real Estate Fund and Travel Cash Jamaica. The Group’s latest acquisition, Advantage General Insurance, in which the Group acquired a 60 percent interest on September 30, did not affect earnings for the nine months.

Filed Under: Company News, Company Results Tagged With: Emerging markets, Jamaica Stock Exchange, Jamaican Stock, Sagicor Group

Trading picks up for JSE Main Market

December 3, 2019 by IC Insider.com

Trading on Jamaica Stock Exchange Main Market rose on Tuesday 35 securities accounting for 35,982,542 units valued at $119,732,182, in contrast to 13,987,345 units valued at $42,027,052 on Monday from 36 securities.
The market closed with 38 securities changing hands in the main and US dollar markets with the prices of 16 stocks advancing, 9 declining and 13 ending unchanged.
At the close, JSE All Jamaican Composite Index declined 473.92 points to close at 553,280.38, the JSE Market Index lost 372.64 points to 503,789.16 and the JSE Financial Index dipped 0.21 points to close at 136.92.
Wigton Windfarm dominated trading with 27.7 million shares for 77 percent of the day’s trade, Sagicor Select Fund followed with 5 million units and 14 percent of volume and Supreme Ventures chipped in with 1 million shares and 2.8 percent of the day trades.
The market closed with an average of 1,028,356 units valued at an average of $3,420,919 for each security traded, in contrast to 388,537 units valued $1,167,418 on Monday. The average volume and value for the month to date amounts to 703,941 units valued at $2,278,299. The market closed out November with an average of 653,621 units valued at $8,699,916 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 23 stocks ending with bids higher than their last selling prices and 2 with lower offers. The PE ratio of the market ended at 19.2, with the Main Market ending at 18.9 times 2019 current year’s earnings.
In the premier market of the Jamaica Stock Exchange, Barita Investments gained 50 cents to close at $71 in trading 1,666 shares. Grace Kennedy closed 98 cents higher to $65.98, with 6,322 shares changing hands, Jamaica Broilers climbed $2 to $38, in transferring 426,784 shares, JMMB Group exchanged 394,116 shares ended at $47, after gaining 70 cents. Mayberry Investments rose 50 cents to settle at $8.70, with 1,021 units traded, NCB Financial Group dived $4.97 to $200.03, after swapping 44,995 shares, Scotia Group climbed $1 to settle $55, in exchanging 3,944 shares, Seprod closed at $49, after losing $1.55 and trading 22,835 stock units. Sygnus Credit Investments closed 73 cents higher at $23.73 in trading 14,192 units, Victoria Mutual Investments lost 38 cents to close at $8.52, after exchanging 146,429 shares and Wisynco Group lost 66 cents in trading 93,349 stock units at $23.30.
Trading in the US dollar market closed with 65,901 units valued at US$4,888, with the market index gaining 0.68 points to close at 214.09. Proven Investments closed at 32 US cents, trading 9,101 shares, Sterling Investments closed at 2 US cents with 49,800 units changing hands and Sygnus Credit Investments exchanged 7,000 shares at 14 US cents.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Barita Investments, Caribbean Cement, Carreras, Daily Trading, Emerging markets, Eppley Caribbean Property Fund, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Kingston Wharves, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Junior Market index drops

December 3, 2019 by IC Insider.com

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Junior Market activity ended on Tuesday with 25 securities changing hands, resulting in an exchange of 1,065,830 units valued at $4,608,133 compared to 783,241 units at $4,794,911 from 26 securities trading on Monday.
At the close, the Junior Market Index declined 33.54 points to close at 3,378.05, resulting from gains in 9 securities and declines in 10 while the prices of 7 remained unchanged and moving the market’s average PE to 12.6.
Trading ended with an average of 42,633 units for an average of $184,325 in contrast to 30,125 units for an average of $184,420 on Monday. The average volume and value for the month to date amounts to 36,256 shares at $184,373 for each security traded. In contrast, November closed with an average of 120,579 shares at $506,880 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator with 5 stocks ending with bids higher than their last selling prices and 3 with lower offers.
At the close of the market, AMG Packaging traded 5,443 units to finish with a loss of 1 cent at $2.06, Blue Power rose 5 cents to end at $6.95 with 17,769 units crossing the market. Dolphin Cove closed with a rise of just 1 cent at $11.11, in swapping of 589 shares. Elite Diagnostic added 5 cents and exchanged 1,090 shares at $5.45, Everything Fresh traded 6,000 units and rose 12 cents to close at $$1.22, Express Catering gained 15 cents after exchanging 10,629 shares at $6.15. Fontana closed trading of 205,925 units and rose 32 cents to end at $7.82, FosRich lost 5 cents and ended with 10,340 shares trading, to end at $4.85. Honey Bun closed 20 cents higher at a 52 weeks’ high of $7.70, with 116,987 stock units crossing the exchange, Indies Pharma traded 13,170 shares and fell 25 cents and close at $3.10. Jetcon Corporation transferred just 15 shares after rising 15 cents to end at $1.95, Lasco Distributors closed trading of 17,427 units and shed 40 cents to end at $3.50. Lasco Manufacturing exchanged 97,354 shares, after declining 22 cents to end at $5, Limners and Bards lost 6 cents and traded 88,879 shares at $2.89. Main Event exchanged 758 shares after rising 20 cents to close at $6.20, Paramount Trading rose 16 cents in transferring 3,000 stock units at $2.14 and Stationery and Office Supplies climbed 55 cents in trading of 8,250 units at $11.55.

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: Access Financial, AMG Packaging, Best performing stock market, Blue Power, Caribbean Producers, Daily Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, Fontana, FosRich, General Accident, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity, tTech

Witco $5 surge creates big index gains

December 3, 2019 by IC Insider.com

West Indian Tobacco jumped $5.02 to a 52 weeks’ high of $40, with investors exchanging 700 shares, to record the first trade since the price adjusted for the three for one split last week. The move helped along with increases in eight other stocks to push the All T&T Index up by 1.56 percent for the day.
At the close of the market, bids to buy the stock rose to 23,980 units at $40 up from 20,465 units on Monday. The market closed with no shares offered for sale.
At the close of the market, the All T&T Index surged 27.88 points to 1,811.56, while the Cross Listed Index rose 1.18 points to close at 146.12 as prices of 9 stocks rose, 3 declined while 5 remained unchanged, leading the Composite Index to climb 18.33 points to 1,444.91.
In the overall market on Monday, investors traded 153,598 shares, amounting to $1,718,205 from an exchange of 17 securities, against 12 on Monday, resulting in trading in 65,975 shares amounting to $950,201.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at six stocks with bids lower than their last selling prices and one with a lower offer.
Gains| Calypso Micro Index Fund rose 5 cents in trading 400 shares and closing at $15.80, Clico Investment Fund concluded trading 5 cents and concluded at $24.40, after exchanging 568 shares, Guardian Holdings added 50 cents to close at $19, with investors transferring 12,500 shares. National Enterprises closed with a gain of 5 cents at $5.55, with investors exchanging 205 shares, National Flour gained 4 cents and completed trading at $1.40, with 10,560 stock units changing hands, NCB Financial closed with an increase of 20 cents and concluded trading of 27,200 stock units at a record high of $11.20. Trinidad Cement rose 15 cents and completed trading with 51,619 units at $1.95 and LJ Williams rose 15 cents and ended at $1.35, with 5,000 stock units trading.
Losses| First Caribbean International Bank share fell 1 cent to $8.22, after exchanging 200 shares, First Citizens Bank lost 15 cents to end at $42.05, with 4,227 units crossing the exchange and Trinidad & Tobago NGL declined by 15 cents and ended trading of 35,659 shares at $21.10.
Firm Trades| Agostini’s traded just 40 shares at $24, Angostura Holdings ended at $16.20, in swapping 2,615 units, Guardian Media settled at $7.80, with investors exchanging 1,567 shares, Massy Holdings completed trading of 120 units at $59.75 and Unilever Caribbean settled at $23.50, with 418 stock units changing hands.

Prices of securities trading are those at which the last trade took place.

Filed Under: Company News Tagged With: Agostini's, Angostura Holdings, Clico Investments, Daily Trading, Emerging markets, Emerging Stock, First Caribbean International Bank, First Citizens, Grace Kennedy, Guardian Holdings, JMMB Group, LJ Williams, Massy Holdings, National Enterprises, National Flour, NCB Financial Group, Trading Activity, Trinidad & Tobago NGL, TTSE, Unilever Caribbean, West Indian Tobacco

JSE main market index jumps

December 2, 2019 by IC Insider.com

JSE Main Market indices made gains on Monday on lower volumes and value compared to Friday but with stocks rising outnumbered by those falling.
At the close, JSE All Jamaican Composite Index climbed 3,136.96 points to close at 553,758.80, the JSE Market Index gained 2,789.32 points to 504161.80 and the JSE Financial Index added 0.94 points to close at 137.13.
The market closed with 38 securities changing hands in the main and US dollar markets with the prices of 12 gaining, 15 declining and 11 trading unchanged. Main market activity ended with 36 securities accounting for 13,987,345 units at $42,027,052, in contrast to 37,782,232 units valued at $133,425,390 on Friday from 40 securities.
Sagicor Select Funds dominated trading with 9.55 million shares for 68.5 percent of the day’s trade and Wigton Windfarm with 2.6 million shares and 19 percent of the overall volume and QWI Investments with 885,900 shares and 6 percent of the trades.
The market closed with an average of 388,537 units valued $1,167,418 for each security traded, in contrast to 944,556 units for an average of 3,335,635 on Friday. The average volume and value for the month to date amounts to 388,537 units valued at $1,167,418 and previously, an average of 653,621 units valued at $8,699,916 for each security changing hands. The market closed out November with an average of 653,621 units valued at $8,699,916 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 19 stocks ending with bids higher than their last selling prices and 1 with lower offers. The PE ratio of the market ended at 18.7, with the Main Market ending at 18.9 times 2019 current year’s earnings.
In the premier market, Carreras gained 25 cents to close at $8.35 trading 10,816 stock units, Jamaica Broilers dropped $2 to end at $36, in swapping 3,050 shares, Jamaica Producers settled at $24.50, after losing $1 trading 11,419 shares, JMMB Group lost 60 cents to end at $46.30, with 177,321 shares changing hands. Kingston Wharves gained $1.72 to close at $60.50 in exchanging 14,053 units. NCB Financial Group dipped $3 to $205, with 16,016 units traded. Portland JSX fell 48 cents to end at $8.02, with 6,350 shares crossing the exchange, Sagicor Real Estate Fund lost 95 cents to close at $10.80, in transferring just 1,000 units, Scotia Group gained 98 cents to end at $54 while exchanging 51,012 shares. Seprod settled at $50.55, in losing 34 cents while trading 28,813 stock units, Stanley Motta lost $1 to close at $5.30, with 24,566 units changing hands, Supreme Ventures shed 99 cents to close at $25.01, in swapping 14,500 shares and Sygnus Credit Investments closed 64 cents lower at $23 in trading 3,135 units.
Trading in the US dollar market closed with 42,800 units valued at US$12,106, with the market index advancing 6.23 points to close at 213.44. Proven Investments closed at 32 US cents, after gaining 1.98 US cents trading 37,500 shares and Sterling Investments closed at 2 US cents with 3,500 units changing hands.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Barita Investments, Caribbean Cement, Carreras, Daily Trading, Emerging markets, Eppley Caribbean Property Fund, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Kingston Properties, Kingston Wharves, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Portland JSX, Productive Business Solution, Proven Investments, QWI Investments, Radio Jamaica, Sagicor Group, Sagicor Real Estate Fund, Sagicor Select Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Victoria Mutual Investments, Wigton Windfarm, Wisynco Group

Sharp rise in Junior Market index

December 2, 2019 by IC Insider.com

Junior Market activities ended on Monday with 26 securities changing hands, from 29 on Friday, resulting in an exchange of 883,148 units valued at $4,794,911 compared to 2,703,365 units valued at $18,646,706 on Friday.
At the close, the market index gained 37.52 points to close at 3,411.59, resulting from gains in 9 securities and declines in 11 while the prices of 7 remained unchanged and moving the market’s average PE to 12.6.
Trading ended with an average of 33,967 units for an average of $184,420 in contrast to 93,219 units for an average of $642,990 on Friday. In contrast, November closed with an average of 120,579 shares at $506,880 for each security exchanged
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator with 2 stocks ending with bids higher than their last selling prices and 3 with lower offers.
At the close of the market, Access Financial dropped $6.68 trading 10,522 units to finish at $30, Caribbean Flavours lost $2.26 to end at $15.64 with a mere 50 units crossing the market. Derrimon Trading gained just 3 cents to end at $2.62 with 149,264 stock units changing hands, Dolphin Cove closed with a rise of only 1 cent at $11.11, in swapping of 589 shares. Elite Diagnostic added 8 cents and exchanged 86,142 shares at $5.40, Express Catering dropped 38 cents after exchanging 43,365 shares at $6. Fontana closed trading of 16,028, units, but fell 30 cents to end at $7.50, GWest Corporation ended with 5,000 shares trading, after rising 6 cents to end at $1.06. Honey Bun closed 50 cents higher at $7.50, with 63,788 stock units crossing the exchange, Indies Pharma traded 5,536 shares and rose 25 cents and close at $3.35. ISP Finance traded 302 shares after falling 31 cents to end at $31.99, KLE Group gained 13 cents in trading of 200 units at $1.53, Lasco Distributors closed trading of 9,000 units and gained 40 cents to end at $3.90. Lasco Financial closed trading of 17,100 units and shed 9 cents to end at $4.41, Lasco Manufacturing exchanged 171,733 shares, after rising 17 cents to end at $5.22, Limners and Bards lost 5 cents and traded 7,500 shares at $2.95. Paramount Trading rose 2 cents in transferring 38,656 stock units at $1.98, Stationery and Office Supplies fell 5 cents in trading of 16,904 units at $11 and tTech exchanged 8,000 shares at $6 with the fall of 1 cent.

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: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, Fontana, GWest, Honey Bun, iCreate, Indies Pharma, ISP Finance, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Medical Disposables, Paramount Trading, SSL Venture Capital, Stationery and Office, Trading Activity, tTech

Witco setting for a price explosion

December 2, 2019 by IC Insider.com

Demand for West Indian Tobacco shares continues to build since the price adjusted for the three for one split last week. Bids to buy the stock have been rising and are now at 20,465 units at $40, above the adjusted last sale price of $34.98 but there are no stocks offered for sale.
In the overall market on Monday, investors traded 65,975 shares amounting to $950,201 from an exchange of 12 securities, against 15 on Friday, when 395,492 shares at $3,053,292.
At the close of the market, the prices of 2 stocks rose, 1 declined while 9 remained unchanged, leading the Composite Index to inch 0.12 points higher to 1,426.58. The All T&T Index rose 1.82 points to 1,783.68, while the Cross Listed Index lost 0.22 points to close at 144.94.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended at 7 stocks with bids lower than their last selling prices and none with a lower offer.
Gains| First Citizens Bank gained 10 cents and settled at $42.20, with 2,293 units crossing the exchange and Trinidad & Tobago NGL rose 20 cents and ended trading of 3,225 shares at $21.25.
Losses| Clico Investment Fund closed with a loss of 1 cent at $24.35, with investors exchanging 13,400 shares.
Firm Trades| Grace Kennedy ended at $3.44, trading 18,689 units, JMMB Group ended at $2.40, with 10,200 units crossing the exchange, LJ Williams closed at $1.20, after exchanging 120 shares, National Flour completed trading 10,000 units at $1.36. NCB Financial traded of 1,000 shares at $11.00, One Caribbean Media ended at $9.75, with 2,400 units crossing the exchange. Republic Financial exchanged 1,402 stock units at $130, Scotiabank settled at $59.75, with 1,718 crossing the exchange and Unilever Caribbean settled at $23.50, with 1,528 stock units changing hands.

Prices of securities trading are those at which the last trade took place.

Filed Under: Stock Market, TTSE Market Tagged With: Clico Investments, Daily Trading, Emerging markets, Emerging Stock, First Citizens, Grace Kennedy, Guardian Holdings, JMMB Group, LJ Williams, National Flour, NCB Financial Group, One Caribbean Media, Republic Financial Holdings, Scotiabank, Trading Activity, Trinidad & Tobago NGL, TTSE, Unilever Caribbean, West Indian Tobacco

Big jump in Honey Bun profit

December 1, 2019 by IC Insider.com

Another major milestone in Honey Bun’s brief history of listing on the JSE Junior Market was reached at the end of the 2019 fiscal year, ending in September, with record revenues and profit.
The full-year results show pretax profit rising 73 percent to $183 million versus $106 million in 2018 and profit after tax rising 67 percent to hit $157 million from a 17 percent rise in revenues to $1.54 billion. Revenues grew even faster in the final quarter by 20.4 percent improvement over the 18.9 that revenues grew in the third quarter over 2018.
The results benefited from improved efficiency with cost sales rising well below the growth in revenues, with input cost increasing 12 percent for the year, driving gross profit margin to 48 percent, an improvement from the 46 percent in 2018. Selling and Distribution expenses rose 16 percent to $250 million from $214, Administrative Cost excluding depreciation rose 18 percent $284 million from $249 million.
Earnings per share rose to 33 cents in the just concluded year from just 18 cents in 2018. Importantly, the company is on the way to earn 70 cents per share for 2020 for a profit of $335 million and should go on to earn $1 per share or $490 million in 2021 and $1.30 or $600 million in the following year when the tax concession for half the regular rate ends.

One Honey Bun’s Products.

The company is benefitting from a capital expenditure of $330 million spent over the last two years to expand the factory and bring manufacturing under one location as well as an expansion of product range. The operations generated gross cash flow of $230 million up from $145 million in 2018.
Shareholders’ equity climbed to $741 million from $618 million. Current assets increased from $209 million to $353 million with net current assets ending at $185 million from $89 million in 2018. Cash and cash equivalents stood at $193 million, up from $100 million, but the company has Investments of $92 million comprising quoted shares and money market instruments treated as non-current assets.
The company manufacture and distributes baked products for the local and export markets.
The stock receives the IC BUY RATED seal of approval. The stock traded at $7 on the Jamaica Stock Exchange Junior Market for a PE of 10.

Filed Under: Company News, Company Results Tagged With: Emerging markets, Honey Bun, IC Insider BUY RATED, Jamaica Stock Exchange, Jamaican Stock, junior market

Continued stability for IC TOP 10

December 1, 2019 by IC Insider.com

With the closing of the two initial public offers of MailPac Group and Lumber Depot last week, things started to return to more normally in the market this past week with the two main markets recording net gains for the week.
At the close of a week when the JSE Main Market put on125 points and the Junior Market rose 46 points there was minimal change to the IC TOP 10 list this week with just one change as Fontana returns to the top flight after a brief absence, replacing Caribbean Flavours with the price jumping to $17.90 on Friday. One important development at the end of the week was the release of full-year results, for Honey Bun, with profit rising 67 percent to hit $157 million from a 17 percent rise in revenues to $1.54 billion. Importantly, the company is on the way to earn 70 cents per share for 2020.
The average gains for the IC TOP 10 stocks are 136 percent for Junior Market stocks and 96 percent for JSE Main market Top 10 stocks.
The top three Junior Market stocks, is now led by Main Event with projected gains of 183 percent, followed by MailPac Group with 180 percent and Medical Disposables with potential gains of 167 percent.
Radio Jamaica remains the lead stock with projected gains of 186 percent, followed by Pulse Investments in the number two spot with projected growth of 138 and Berger Paints with likely gains of 120 percent and percent is next.
The JSE Main Market closed the week with the overall PE of 19 up from 18.8 and the Junior Market at 14.2, an improvement over the previous week’s 13.8, based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 18.7 from 7.8 last week with the Main Market PE at 10.6 up from 10.4.
The TOP 10 stocks now trade at a discount of 39 percent to the average for Junior Market stocks and main market stocks trade at a discount of 44 percent to the overall market.
IC TOP 10 stocks are likely to deliver the best returns to March next year. Projected earnings, along with the PE ratio for each company’s current fiscal year, are used in determining potential gains with the likely gains ranked in descending order with highest-ranked being the most attractive. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.