Express Catering generated US$7.3 million in cash flow and paid interest of $2.5 million on borrowings used to fund loans to the parent company. The loan to the parent jumped US$7.7 million during the year to US$24.6 million or J$4 billion.
Ian Dear, Managing Director of Express Catering
The just-released audited accounts do not indicate the company’s ability to recover the debt, which has been rising for years and exceeds shareholders’ equity of US$13 million.
At the same time, minority shareholders bear the cost of the US$15 million loan borrowed to help fund the parent company, without a cent being passed on to the parent. This is very poor governance practice. The practice opens the company to tax charges for the loss of interest income, as the loan is not an arm’s-length transaction. Worse, it opens the company to legal action from minority shareholders for suppressing minority.
Shareholders get hit in a number of ways. The cost of lending the parent company reduces profits, resulting in a lower stock price and lower dividends, with the possibility that some or all of the debt may have to be written off.
During the year, the company suffered a reduction in revenues and profit, mostly caused by a drop in visitor arrivals through Sangster International Airport since November last year.
Revenues fell from US$25.9 million to US$18.9 million, while profit declined to US$2.68 million from US$3.76 million after interest costs of US$2.5 million, roughly the same as in 2025.
Starbucks is one of Express Catering brands.
Express Catering needs to regularise lending to the parent company, with a set date for repayment and compensation for interest at market rates, back to the inception of listing. It also needs to show, in future financials, the ability to recover the debt, with a charge being placed on the assets of the parent company.
Going forward, airport departures have been recovering and are now down around 20 percent from 2025 levels, with expectations that the numbers will continue improving into 2027 as most of the hotels that were closed reopen.
The market closed with 5,092,750 shares trading valued $71,147,987 after dropping from 9,228,296 stock units at $154,835,594 on Friday.
The Main Market ended trading with an average PE Ratio of 15.2. ICInsider.com compiles the JSE Main Market PE ratios that are derived by dividing the last traded stock price by earnings per share for companies with the fiscal year ending around August 2027.
In the preference segment, Jamaica Public Service 7% slipped $4.98 to end at $30.02 after an exchange of 22 stock units, Jamaica Public Service 9.5% fell $4 to finish at $2,156 with investors dealing in 50 stock units. 138 Student Living preference share dropped $28.99 to $201.01 with a transfer of 35 shares, Sygnus Credit Investments 10% rallied $8.99 to $113.99 after trading of 302 stock units and Sygnus Credit Investments C10.5% shed $5 to finish at $95 with 15,757 stocks crossing the exchange.
A total of 34,074,813 shares worth $36,835,128 changed hands in a surge from 6,915,830 stock units at $9,645,165 on Friday.
Cargo Handlers rallied by $1.57 and ended at $15.83 with a transfer of 377 stocks, Caribbean Cream gained 24 cents to finish at $2.64 with 2,406 shares crossing the market, Caribbean Flavours rose 10 cents to close at $1.37 with investors trading 65,523 units. Consolidated Bakeries advanced 5 cents to $1.40 with an exchange of 57 shares, Derrimon Trading rose 8 cents to close at 89 cents with an exchange of 258,929 stock units, Dolla Financial climbed 20 cents and ended at 52 weeks high of $3.90 in switching ownership of 565,705 shares. Dolphin Cove rose 75 cents to $9.85 after an exchange of 71,055 stocks and the price hitting a 52 weeks intraday low of $8, Elite Diagnostic climbed 20 cents to end at $1.72 with a transfer of 1,247 units, Everything Fresh rose 23 cents to close at $1.91 after an exchange of 4,079 stock units. Express Catering gained 11 cents to $1.96 in trading 201,350 shares, GWest Corporation popped 10 cents to finish at 57 cents with 5,884 units crossing the exchange, Indies Pharma shed 5 cents and ended at $2.59 with investors dealing in 12,254 stocks. 
Iron Rock Insurance lost 22 cents to close at $3 in an exchange of 499,112 stock units, Knutsford Express advanced 60 cents to end at $8.65 after trading of 8,042 shares, Limners and Bards skidded 17 cents in closing at 93 cents with 25,999,843 stock units changing hands. Lumber Depot rallied 14 cents to $2.54 after a transfer of 7,889 stocks, ONE on ONE Educational dropped 7 cents and ended at 65 cents as investors exchanged 33,979 units and RA Williams popped 7 cents to finish at a 52 weeks high of 70 cents with 2,303,292 shares clearing the market.
The market closed with trading of 57,409 shares valued $881,704 in tumbling from 99,935 stock units at $2,190,631 on Friday.
CIBC Caribbean Bank fell by 15 cents to $8.15 after trading 401 stock units, CinemaOne ended at $2.87 with investors swapping 24 shares, Endeavour Holdings rose 75 cents to close at $13.50 after a transfer of a mere stock. First Citizens Group remained at $40 with 3,138 units changing hands, GraceKennedy remained at $4.40 in an exchange of 40 stock units, Guardian Holdings dipped 20 cents to $16, with investors trading 697 shares. JMMB Group rallied 4 cents to end at 88 cents with 501 stock units crossing the exchange, Massy Holdings shed 1 cent to finish at $3.45 with a transfer of 11,074 units, Medcorp ended at $43.75 with a mere one stock unit changing hands. National Enterprises declined 7 cents to $4.50 with investors swapping 6,252 shares, National Flour Mills advanced 14 cents in closing at $1.66 with 2,162 stock units crossing the market, Prestige Holdings increased 50 cents to finish at $12 with investors trading 6 stocks. Republic Financial ended at $112.03 with 3,704 units passing through the market, 
Scotiabank ended at $48 after an exchange of 109 stock units, Trinidad & Tobago NGL climbed 24 cents to close at $10.25 in trading 2,975 shares. Trinidad Cement skidded 9 cents to close at $1.91 as investors exchanged 29 units, Unilever Caribbean gained 19 cents to finish at $15.19 in switching ownership of 8,045 stock units, West Indian Tobacco remained at $4.15 with investors dealing in 10,950 shares and West Indian Traders ended at $2.13 with an exchange of 5 stock units.
The past week’s top performing Junior Market stocks include five on this ICInsider.com TOP10 list. Those on the list are RA Williams Distributors, Access Financial, Caribbean Assurance, Main Event and Omni Industries.
Rounding out the top five winners for the week are Main Event Entertainment, up 14.33 percent and Spur Tree Spices rallied by 13.28 percent. Indies Pharma popped 12 percent, Limners and Bards climbed by 7.84 percent, Omni Industries rose by 6.82 percent, Consolidated Bakeries ended with a gain of 6.3 percent and JFP 5 percent.
Overall, the winning stocks are dominated by the standout mover, R.A. Williams Distributors. The rest of the gains were modest and broadly spread across insurance, financial services, entertainment, food, and pharmaceuticals. On the losering side, declines were fairly evenly clustered between 8.5 percent and 15.2 percent, with no single stock experiencing an outsized drop, spanning sectors such as retail, finance, healthcare and trading.
The market closed with an average of just 4,759 shares being traded at $104,316, up from a mere 3,327 stocks worth $42,471 on Thursday. Trading month to date ended with an average of 69,166 shares at $404,923, down from 73,862 units at $426,841 on the previous day and well ahead of an average of 16,054 shares worth $137,863 for 
CIBC Caribbean Bank climbed 30 cents to $8.30 in the swapping 1,167 stock units, Endeavour Holdings remained at $12.75, with 2 shares clearing the market, Eric Solis Marketing ended with 3,158 shares being traded and gained 63 cents in closing at a 52 weeks high of $4.80. First Citizens Group sat at $40 with trading 39,493 units, GraceKennedy gained 25 cents to $4.40 after an exchange of 3 stock units, Guardian Holdings ended at $16.20 with a transfer of 6,332 shares. JMMB Group remained at 84 cents as investors exchanged 2,106 stocks, Massy Holdings shed 2 cents to close at $3.46, after 21,262 units changed hands, Medcorp fell $1.54 to $42.20 in an exchange of 130 stock units. National Enterprises rose 21 cents to $4.57 with investors swapping 59 shares, National Flour Mills ended at $1.52 with an exchange of 2,292 stocks, Prestige Holdings slipped 50 cents and ended at $11.50, with 106 shares changing hands. 
Republic Financial remained at $112.03 in trading 1,162 stock units, Scotiabank ended at $48, with 529 shares crossing the exchange, Trinidad & Tobago NGL declined 24 cents to end at $10.01 after a transfer of 461 units. Unilever Caribbean skidded 19 cents to $15 after closing with 7,739 stocks, West Indian Tobacco remained at $4.15 in an exchange of 12,187 stock units and West Indian Traders gained 1 cent and ended at $2.13 after trading of 17 shares.
The market closed with only 6,123,360 shares trading for $88,487,284 after sliding from 10,593,921 stock units at $101,610,805 on Wednesday.
Trading closed with an average PE ratio of 15.7. ICInsider.com compiles the 
MPC Caribbean Clean Energy lost $2.61 to $18.60 with 2 stocks crossing the market, Sagicor Group climbed $1.89 to close at $43.40 in switching ownership of 61,945 stock units, Sagicor Real Estate Fund increased $1.43 to finish at $9.43 with 109 shares clearing the market and Seprod slipped $1.04 and ended at $73.96 9,595 shares.
The market closed with trading of just 79,844 shares for $1,019,294, after falling from 471,595 stocks at $2,920,326 on Wednesday.
AS Bryden ended at $1.50 after an exchange 230 stocks, CIBC Caribbean Bank shed 30 cents to settle at $8 with a transfer of 1,002 shares, Endeavour Holdings fell by 75 cents to finish at $12.75 with investors dealing in 2,000 units. First Citizens Group closed at $40 with 1,278 stocks crossing the exchange, GraceKennedy skidded 19 cents in closing at $4.15 following trading in 22,000 stock units, Guardian Holdings popped 30 cents to end at $16.20 in an exchange of 5,043 shares. JMMB Group remained at 84 cents after trading of 5,001 units, Massy Holdings rallied 8 cents to finish at $3.48 in an exchange of 2,910 stocks, Medcorp fell 1 cent to close at $43.74 with a transfer of 3 stock units. National Enterprises dropped 20 cents to $4.36 in trading 11,752 shares, National Flour Mills dipped 4 cents to $1.52 after an exchange of 5,553 stock units, NCB Financial rose 21 cents in closing at $3.23 with 200 units changing hands. One Caribbean Media slipped 18 cents and ended at $1.50 after trading of 1,111 shares, Point Lisas remained at $7.25 with 26 shares clearing the market, Prestige Holdings ended at $12 in switching ownership of 1 stock unit. 
Republic Financial gained 3 cents to close at $112.03 with investors trading 295 stocks, Scotiabank remained at $48 with an exchange of 8,054 units, Trinidad & Tobago NGL ended at $10.25 with 4,494 stocks crossing the market. Trinidad Cement advanced 30 cents to $2 after a transfer of 3,349 units, West Indian Tobacco climbed 8 cents to finish at $4.15 with investors trading just one share and West Indian Traders ended at $2.12 in an exchange of 390 stock units.
The market closed with trading of 7,703,163 shares for $10,200,830, after decreasing 8,413,693 units at $10,662,413 on Tuesday.
At the close of trading, Cargo Handlers fell $1.29 to close at $14.26 in an exchange of 9,005 stocks, Caribbean Assurance Brokers popped by 10 cents to end at $1.70 with an exchange of 276,099 stocks, Caribbean Flavours gained 10 cents and ended at $1.20 with trading in 22,000 units. Derrimon Trading dipped by 12 cents to end at 82 cents in trading 413,512 stocks, Dolla Financial lost 9 cents to close at $3.50, with 72,634 units crossing the market, Dolphin Cove rose 35 cents to finish at $9.40 with investors dealing in 10,601 stocks. Elite Diagnostic skidded 18 cents and ended at $1.59 with 2,400 shares changing hands, Everything Fresh slipped 30 cents to $1.67 in an exchange of 17,320 stock units, Express Catering declined 16 cents to end at $1.80 with investors trading 351,690 shares. Fontana shed 10 cents in closing at $6.05 with an exchange of 25,759 stocks, Image Plus dropped 5 cents to finish at $1.25 with 3,302 units crossing the market, Jamaican Teas fell 12 cents to $2.07 following a transfer of 162,653 stock units. 
Jetcon Corporation skidded 8 cents to $4.39 with a transfer of 106,297 shares, JFP advanced by 11 cents to 46 cents as investors exchanged 12,592 stock units, Knutsford Express lost $1.15 to end at $7.49 with 6,051 units passing through the market. Mailpac Group shed 7 cents in closing at $2.30 after an exchange of 13,048 stocks, Omni Industries declined 5 cents to close at 90 cents with trading of 581,425 shares, Paramount Trading fell 6 cents to finish at 94 cents with 28,000 units crossing the exchange. RA Williams increased 15 cents to a 52 weeks high of 67 cents after a transfer of 790,055 stocks and Stationery and Office Supplies dipped 18 cents to end at $1.40 in switching ownership of 2,709,459 stock units.
The market closed with trading of 471,595 shares worth $2,920,326, up from 227,091 stock units at $2,581,029 on Tuesday.
CIBC Caribbean Bank remained at $8.30 following trading of 100 stocks, Endeavour Holdings ended at $13.50 in exchanging 10 shares, First Citizens Group skidded 1 cent to close at $40, in an exchange of 1,748 stocks. GraceKennedy rose 14 cents to $4.34 after trading 23,797 units, Guardian Holdings popped 90 cents to close at $15.90, with a transfer of 290 shares, JMMB Group lost 1 cent to end at 84 cents, with 7,677 shares clearing the market. Massy Holdings gained 10 cents to close at $3.40, with investors trading 378,172 units, Medcorp dipped $3.25 to $43.75 in an exchange of 101 stocks, National Enterprises remained at $4.56 with investors dealing in 991 stock units. National Flour Mills rose 3 cents to $1.56, with trading of 36,850 shares, Prestige Holdings ended at $12 with investors trading 2 stocks, Republic Financial remained at $112 with an exchange of 6,545 units. 
Scotiabank ended at $48 with a transfer of 1,663 stock units, Trinidad & Tobago NGL ended at $10.25 following trading of 1,005 shares, Unilever Caribbean climbed 19 cents to close at $15.19 with 8 stocks passing through the market and West Indian Traders slipped 1 cent to $2.12, with investors swapping 10 units.