Trading gains for Trinidad Stock Exchange

Trading volume surged 251 percent with a 198 percent jump in the value over Friday’s levels as NCB Financial accounted for $11 million of the total value of stocks traded and Guardian Holdings $4.6 million, on a day when 20 securities traded, up from 18 on Friday, with five rising, two declining.

NCB Financial Group traded the most shares on the TTSE on Tuesday.

At the close, the Composite Index rose 1.63 points to 1,379.90, the All T&T Index added 1.67 points to end at 1,875.69 and the Cross-listed index added 0.37 points to end at 119.03.
A total of 1,948,761 shares traded for $21,671,147, up from 555,090 units at $7,262,767 on Friday.
Trading averaged 97,438 units at $1,083,55, up from 30,838 shares at $403,487 on Friday.  April averaged 25,935 units at $406,593.
The Investor’s Choice bid-offer indicator shows one stock ending with a higher bid than the last selling price and three with lower offers.
At the close, Agostini’s traded 2,000 shares at $24.40, Angostura Holdings settled at $15 in switching ownership of 1,222 shares, Ansa Mcal remained at $56.75 while exchanging 7,417 units, Clico Investment Fund ended at $25.50 in exchanging 101,147 units, First Citizens Bank closed at $50 in exchanging 9,404 units. FirstCaribbean International Bank added 4 cents to close at  $6.10 with 2933,587 units crossing the market, Grace Kennedy added 1 cent to end at $5.24, after 48,260 shares changed hands, Guardian Holdings gained 51 cents to close at a 52 weeks’ high of $33.51 with 137,551 shares crossing the exchange. JMMB Group rose 7 cents to $1.81 after exchanging 8 stock units, L.J Williams B share traded 47,061 stock units at $1.35, Massy Holdings stayed at $69.76 after exchanging 1,189 shares. NCB Financial Group close at $8.50 in an exchange of 1,303,500 units, National Enterprises traded 20,281 stock units at $3 after rising 4 cents, National Flour exchanged 218,348 units at $2.30, Republic Financial Holdings closed at $135 after trading 48 stock units, Scotiabank closed at $57, with 16,069 stock units clearing the market, Trinidad & Tobago NGL lost $1 to close at $17.50 after trading 26,322 stock units. Trinidad Cement ended at $3.30, with an exchange of 39 stock units, Unilever Caribbean closed at $16.33 after exchanging 8,297 stocks and West Indian Tobacco lost 1 cent to end at $32.50 after trading 305 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Big gains for Trinidad Stock Exchange

Big gains in the price so First Citizens Bank and Trinidad & Tobago NGL push the All T&T Index up 21.86 points to 1,875.02 at the close of market activity on Friday, with the market rising after 161 percent more shares carrying 39 percent greater value than traded on Thursday on the Trinidad and Tobago Stock Exchange.

First Citizens Bank gained $3.20 to close at $49.69 on Friday.

a total of 18 stocks traded on Friday, up from 13 on Thursday, with seven rising, five declining and six closing unchanged.
The Composite Index gained 7.82 points to end at 1,378.27 and the Cross-Listed Index fell 1.01 points to close at 118.66.
In total 555,090 shares traded at a value of $7,262,767 compared to 212,551 units at $5,235,386 on Thursday.
An average of 30,838 units traded at $403,487 compared to 16,350 at$402,722 on Thursday. The average trade month to date is 25,935 units at $406,593 versus 25,631 units at $406,786. The average trade for April amounts to 11,472 units at $184,959.
The Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and four with lower offers.
At the close, Angostura Holdings settled at $15 after trading of 10,000 shares, Ansa Mcal ended at $56.75 while exchanging 872 units, Clico Investment Fund exchanged 50,814 units at $25.50,  First Citizens Bank increased $3.20 to close at $50 in exchanging 8,447 units. FirstCaribbean International Bank dropped 4 cents to close at a 52 weeks’ low of $6.06 with 3,587 units crossing the market, Grace Kennedy slipped 1 cent to $5.24, after 1,980 shares changed hands, Guardian Holdings gained 50 cents to close at $33 with 59,092 shares crossing the exchange. JMMB Group fell 7 cents to $1.74 after trading 273,813 stock units, L.J Williams B share shed 5 cents in closing at $1.35 trading 10,000 stock units, Massy Holdings stayed at $69.76 after exchanging 777 shares. NCB Financial Group lost 25 cents to close at $8.50 in an exchange of 78,000 units, One Caribbean Media rose 30 cents to $4.80 in exchanging 500 stock units, Point Lisas climbed 10 cents to $3.10 while trading 1,051 units. Republic Financial Holdings stayed at $135 in trading 2,925 stock units, Scotiabank closed at $57, with 22,521 stock units clearing the market, Trinidad & Tobago NGL climbed 77 cents to $18.50  trading 300 stock units. Trinidad Cement rose 5 cents to $3.30, with an exchange of 10 stock units and Unilever Caribbean inched up 1 cent in closing at $16.33 and exchanging 30,401 stocks.Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Slippage on TTSE market on Thursday

Market activity ended on Thursday, with the market declining after investors traded 55 percent fewer shares, carrying a value that was 37 percent lower than on Wednesday, resulting in slightly more stocks rising than falling at the close of trading on the Trinidad and Tobago Stock Exchange.
At the close, 13 traded compared to 14 on Wednesday, with four stocks rising, three declining and six remaining unchanged. The Composite Index fell 3.94 points to 1,370.45, the All T&T Index shed 7.63 points to close at 1,853.16 and the Cross-Listed Index remained unchanged at 119.67.
A total of 212,551 shares changed hands for $5,235,386, down from 470,149 units traded at $8,330,555 on Wednesday. An average of 16,350 units traded for  $402,722 compared to 33,582 at $595,040 on Wednesday. The average trade for the month to date ended at 25,631 units at $406,786 versus 26,066 units at $406,977. The average trade for April amounts to 11,472 units at $184,959.
The Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Agostini’s traded 50 shares to close at $24.40, Angostura Holdings remained at $15 with 109 stocks changing hands, Clico Investment Fund closed at $25.50 in an exchange of 31,110 shares, First Citizens Bank dropped $3.20 to $46.80 after exchanging 104 units. Guardian Holdings advanced 18 cents to $32.50 after 24,047 shares crossed the exchange, JMMB Group settled at $1.81 in trading 2,080 stock units, Massy Holdings advanced $1.25 to end at $69.76, exchanging 27 stocks. National Flour Mills traded 1,020 shares at $2.30, NCB Financial Group increased 25 cents to $8.75, with 49,992 units clearing the market, Prestige Holding remained at $6.55, with an exchange of 1,332 shares. Trinidad & Tobago NGL declined 11 cents to $17.73 in trading 3,005 units, Unilever Caribbean lost 1 cent in closing at $16.32 with an exchange of 4,605 units and West Indian Tobacco increased 3 cents to $32.51 after exchanging 95,070 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Profit jumps 19.5% at Wigton

Wigton Windfarm delivered a 19.5 percent increase in net profit of $793 million for the year to March 2021, up from $663 million generated in 2020 from Sale revenues that rose 7.2 percent to $2.59 billion in the year to March 2021 from $2.4 billion in 2020.

Wigton closed at anew high of $1

Wigton traded 65 cents of shares on Wednesday.

This is the second year in a row that the profit is rising, following a 30 percent increase in the 2020 fiscal year over that of 2019.
Other income contributed $218 million to profit up from $221 million in 2020 and incurred direct costs of $789 million for the year against $764 million in 2020. General administrative expenses amounted to $491 million for the year against $479 million in 2020, while finance charges amount to $503 million compared to $527 million in 2020. Taxation ate up 4234 million, up from $206 million in 2020.
The company generated a positive cash flow of $1.6 billion repaid loans to the tune of $710 million and paid out a mere $28 million in dividend.
Wigton ended the year with cash of $3.2 billion and is a part of the total current assets of $3.7 billion but there was only $117 million in current liabilities but the company borrows $5.6 billion and has shareholders’ equity of $4.2 billion.
The company earned seven cents per share, with 2020 coming in at six cents. With the stock selling at 65 cents on the Main Market of the Jamaica Stock Exchange, it appears cheap, but investors have to consider that the company had indicated that the rate collected on one of the turbines will fall sharply from what would have been received for the 2021 fiscal year, as such the reduction is going to have a major negative impact on revenues and profit going forward.
Here is what the audited accounts stated “Wigton Phase II which was commissioned in December 2010 and supplies 18MW power to the grid. The plant was awarded the avoided rate for the energy it supplies and as per the terms and conditions of the Power Purchase Agreement (PPA), the final rate adjustment for this plant was applied at the end of March 2021. The rate adjustment will translate to approximately fifty percent reduction in the revenue from Wigton Phase II in United States Dollars. This is projected to equate to an overall fourteen percent decrease in revenue in Jamaican Dollars.
The effect of the rate adjustment will reduce revenues by approximately $380 million before tax and will result in net profit coming in around $470 million of 4.3 cents per share for the 2021/22 fiscal year and that would put the value of the stock around at the latest price of 65 cents at a PE of 15.”

T&TSE market rises

Market activity ended on Wednesday after 16 percent shares fewer shares with a 17 percent lower value traded than on Tuesday, resulting in an equal number of stocks rising and falling at the close of trading on the Trinidad and Tobago Stock Exchange.
At the close, 14 traded compared to 16 on Tuesday, with four stocks rising, four declining and six remaining unchanged. The Composite Index rose 6.80 points to 1,374.39, the All T&T Index advanced 13.16 points to 1,860.79 and the Cross-Listed Index remained unchanged at 119.67.
A total of, 470,149 shares traded, for $8,330,555 compared to 560,040 units at $9,978,704 on Tuesday.
An average of 33,582 units traded at $595,040 for the day, compared to 35,003 at $623,669 on Tuesday. The average trade for the month to date amounts to 26,066 units at $406,977 versus 25,666 units at $396,966. The average trade for April ended at 11,472 units at $184,959.
The Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s remained at $24.40 with an exchange of 30 shares, Angostura Holdings ended at $15 after exchanging 1,200 units, Ansa Mcal rose 2 cents to $56.75 after exchanging 3,053 shares. Clico Investment Fund ended at $25.50, exchanging 121,283 shares, First Citizens Bank rose $1.50 in closing at $50 after trading 8,617 units, Guardian Holdings lost 18 cents in closing at $32.32 in switching ownership of 25,226 stocks, Massy Holdings dropped $6.24 to close at $68.51 with an exchange of 55 units. National Flour Mills settled at $2.30 while exchanging 130,465 stocks, NCB Financial Group closed at $8.50 with the swapping of 60,249 shares, Prestige Holdings fell 44 cents to end at $6.55 in an exchange of 909 shares. Scotiabank gained $1 to end at $57 after clearing the market with 22,486 units, Trinidad & Tobago NGL gained 89 cents to close at $17.84 after exchanging 91,271 stock units, Unilever Caribbean closed at $16.33, with 2,058 stocks crossing the market and West Indian Tobacco fell 1 cent to end at $32.48 with the swapping of 3,247 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Mayberry Investments may be worth a spec

Mayberry Investments had one of its better performances in the  March 2021 quarter, with a profit of $365 million that was up from a loss of $1.3 billion for the March 2020 quarter, but one would be hard pressed to glean that from the reaction of investors to the stock that hardly moved before or after the results.
Profit attributable to shareholders was $278 million in the quarter, up from a loss of $971 million in the 2020 quarter. Earnings per share amount to 23 cents for the quarter.
Contributing to the robust outturn was a 33 percent rise in Interest income to $197 million and a fall of two percent in Interest expenses to $135 that resulted in Net Interest income of $62 million, increasing by $51 million over the 2020 first quarter. Fees and Commission Income fell from $130 million to $118 million, primarily due to the following that Mayberry states, “Equity commission decreased by $7.8 million; IPO selling fees income was lower by $27 million and Corporate Advisory fees experienced a $26 million shortfall. In addition, loan processing fees declined by $6.3 million.”
Dividend income grew sharply by $110 million to $119 million that Mayberry attributes to payouts from Supreme Ventures and General Accident Insurance. Revenues also benefited from unrealized gain on investment of $272 million, up from a big loss of $1.13 billion in 2020 following the sharp fall in asset values in the 2020 March quarter, with the outbreak of Covid-19. Other income generated $34 million up from just $2 million in 2020, resulting from the recovery of bad debts during the period. Net Foreign exchange gains of $62 million decreased by $7 million.

Mayberry Ithe lead broker.

The group suffered a total comprehensive loss of $150.5 million, compared to a loss of $7.5 billion for the corresponding quarter of 2020, with shareholders of the parent company picking up $94 million in the 2021 quarter and $5.5 billion in 2020.
Operating expenses fell by $46 million, from $367 million to $321 million, with salaries and staff related costs falling from $171 million to $145 million and other operating costs dropping from $172 million to $151.
Total Assets at the end of March 2021 amount to $31.5 billion, up from $30.4 billion at March 2020, with investments of $18.6 billion, Reverse Repurchase agreements and Promissory notes account for $6.8 billion, loans and other receivables accounts for $3.4 billion.  At the end of the period, Shareholders’ Equity stood at $12 billion and is up from $9.6 billion for the 2020 period.
The stock is undervalued with a net asset value of $10 per share and a PE Ratio based on estimated 2021 earnings that are around 5 times earnings, that excludes other comprehensive income. There are a number of problems that have weighed down the value of the company, one major one is the inconsistency in earnings over the years. In addition, the company has turned off many of its former loyal customers and other stakeholders over the years.
The stock that is listed on the Main Market of the Jamaican Stock Exchange now trades at $5.65, still below its all-time high of more than $8 reached shortly after it was listed in 2005.

Profit jumps 77% at Honey Bun

Net profits surged 77 percent to $77 million at Honey Bun in the quarter to March, this year from $43 million earned in the 2020 March quarter from a 16 percent rise in revenues to $527 million from $453 million in 2020.
For the six months to March, profit after tax grew 20.7 percent to $112 million from $92 million in 2020, with revenues coming in 13 percent ahead of the 2020 income of $876 million to close out the March 2020 half year at $989 million.
“The improvement was attributable to a number of factors, including the introduction of new products such as the Hot Dog roll and Cinnamon loaf’, chairman Herbert Chong and Michelle Chong, Chief Executive Officer, stated in their jointly signed commentary on the results.
Gross profit for the quarter grew 19 percent to $254 million over the $214 million realized in the prior year, whilst gross profit margin rose to 48 percent from 47.3 percent in the prior year.
“Easter bun sales performed well, in particular, Easter bun exports grew 48 percent over prior year,” the directors reported.
For the half year, gross profit came in at $472 million, 11 percent more than the prior year’s $426 million. Gross profit margin slipped to 47.7 percent compared to 48.6 percent in the prior year. “The decline was due to increased cost of raw materials and other manufacturing inputs that occurred mainly in the first quarter,” the directors stated.
Administrative cost rose 15 percent to $109 million in the quarter from $95 million in 2020 and climbed 18 percent to $216 million for the half year from $184 million. Selling and distribution costs slipped to $59 million from $63 million in the 2021 quarter versus that of 2020 and, for the half year, ended at $128 million for 2021 from 129 million in 2020.

Honey Bun historical earnings with projections for 2021.

“The company invested $69 million in capital expenditure in the period, mainly to upgrade vehicle fleet to service new routes, and to acquire additional manufacturing equipment,” the directors reported.
Fixed assets net of depreciation of $36 million for the half year amounts to $588 million. The company also has investments of $64 million.
Current assets climbed from $474 million at the end of March 2020 to $506 million, including cash and equivalent of $347 million and receivables of $81 million, compared to $119 million at the end of March 2020. Inventories declined from $94 million to $75 million at the end of the half year. Current liabilities stood at $181 million compared to $203 million at the 2020 half year and include trade and other payables of $161 million, down from $180 million at the end of March 2020. The movement in the working capital resulted in net current assets ending at $326 million, 20 percent higher than March 2020.
Shareholders’ equity ended at $939 million that compares with borrowed funds of just $25 million.
The company generated net cash of $168 million for the six months and paid out $42 million for dividends and, after spending to acquire fixed assets and investments, ended up with additional funds of $50 million.
Earnings per share for the quarter was 16 cents and is up from 9 cents in 2020, with the half year ending at 24 cents compared to 20 cents in 2020. ICInsider.com projects earnings of 50 cents per share for the current year giving it a PE of 13.5, slightly above the market average currently of 12.5, but less than others that are priced around 17. The stock traded at $6.75 on Friday on the Junior Market of the Jamaica Stock Exchange.

Rising T&T stocks clobber others

Massy Holdings jumped $7.75 to a 52 weeks’ high of $74.75, as market activity ended on Tuesday after 71 percent fewer shares valued 56 percent less than on Monday traded, resulting in rising stocks dominating declining ones at the close of trading on the Trinidad and Tobago Stock Exchange.
At the close, 16 traded compared to 15 on Monday, with nine stocks rising, one declining and six closing unchanged. The Composite Index climbed 9.11 points to 1,367.59, the All T&T Index rose 8.76 points to end at 1,847.63 and the Cross-Listed Index gained 1.33 points to settle at 119.67.
A total of, 560,040 shares were exchanged for $9,978,704, down sharply from 1,938,335 units at $22,585,268 on Monday.
An average of 35,003 units were traded at $623,669 down from 129,222 at $1,505,685 on Monday. The average trade month to date amounts to 25,666 units at $396,966 versus 25,061 units at $382,281. The average trade for April amounted to 11,472 units at $184,959.
The Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than the last selling price and three with lower offers.
At the close, Angostura Holdings traded 1,450 shares at $15, Ansa McAL remained at $56.73 in exchanging 906 units, Clico Investment Fund gained 20 cents to close at $25.50 after transferring 98,554 stocks. First Citizens Bank advanced $1.70 to $48.50 with 35,283 shares crossing the market. Grace Kennedy rose 40 cents to end at a 52 weeks’ high of $5.25 in trading 94,028 units, Guardian Holdings picked up 15 cents to close at $32.50 trading 27,000 stocks, JMMB Group remained at $1.81 in switching ownership of 60 shares. Massy Holdings jumped $7.75 to end at a 52 weeks’ high of $74.75 after 2,250 units crossed the exchange, National Flour Mills closed at $2.30 in trading 84,166 shares, NCB Financial Group traded 100,000 stocks at $8.50. Point Lisas gained 5 cents to settle at $3 in exchanging 1,248 stocks, Prestige Holdings lost 1 cent to end at $6.99 trading 222 units, Republic Financial Holdings closed at $135 in transferring 416 shares. Scotiabank advanced $1.10 to $56 after exchanging 31,802 units, Trinidad & Tobago NGL rose 46 cents to $16.95 in trading 81,953 shares and Unilever Caribbean added 1 cent in closing at $16.33 with the swapping of 702 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Sharp jump in trading on TTSE

The volume and value of stocks traded rose sharply on Monday, after exchanging 480 percent more shares valued 240 percent greater than on Friday and resulting in slightly more stocks falling than rising at the close of the Trinidad and Tobago Stock Exchange.
A  total of 1,938,335 shares traded for $22,585,268 versus 334,379 units at $6,637,409 on Friday.
An average of 129,222 units traded at $1,505,685 compared to 20,899 at $414,838 on Friday. The average for the month to date amounts to 25,061 units at $382,261 versus 18,327 units at $309,647. The average trade for April amounted to 11,472 units at $184,959.
Fifteen securities traded against 16 on Friday, with two rising, five declining and eight closng unchanged. The Composite Index rose 2.50 points to 1,358.48, the All T&T Index lost 2.59 points to close at 1,838.87 and The Cross-Listed Index increased 1.11 points to settle at 118.34.
The 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, Agostini’s closed at $24.40 in exchanging 17,200 shares, Ansa Mcal ended at $56.73, with 16,544 shares changing hands, Clico Investment Fund shed 20 cents in ending at $25.30 with the swapping of 821 stock units. First Citizens Bank added 1 cent in closing at $46.80 trading 31,948 stock units. Guardian Holdings dropped 15 cents to close at $32.35 in exchanging 33,176 units, JMMB Group ended at $1.81 trading 284 units, Massy Holdings closed at $67, with 4,871 stocks crossing the market. National Enterprises dipped 4 cents to $2.96, with 2,043 units switching owners, NCB Financial Group climbed 20 cents to $8.50, with 1,754,266 shares crossing the market, One Caribbean Media shed 39 cents to close at $4.50 while exchanging 399 shares. Republic Financial Holdings settled at $135 in an exchange of 1,062 shares, Scotiabank closed at $54.90 trading 51,984 stock units, Trinidad & Tobago NGL  ended at $16.49 after 20,607 shares changed hands. Unilever Caribbean slipped 1 cent to $16.32 trading 83 stock units and West Indian Tobacco settled at $32.49 with an exchange of 3,047 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trading dips on TTSE

Trading dips on TTSEMarket activity declined on Friday, relative to Friday’s trading, with investors exchanging 38.45 percent fewer shares with a lower value than on Thursday, resulting in more stocks rising than declining at the close of trading on the Trinidad and Tobago Stock Exchange.
A total of 16 securities traded compared to 20 on Thursday, with prices of five stocks rising, three declining and eight remaining unchanged. The Composite Index fell 4.34 points to 1,355.98, The All T&T Index rose 6.90 points to 1,841.46 and the Cross-Listed Index lost 2.29 points to sit at 117.23.
At the close, 334,379 shares traded, for $6,637,409, down from 543,273 units at $7,979,074 on Thursday.
An average of 20,899 units traded at $414,838 compared to 27,164 at $398,954 on Thursday. Trading month to date averages 18,327 units traded at $309,647 versus 18,136 units at $301,855. The average trade for April amounts to 11,472 units at $184,959.
The Investor’s Choice bid-offer indicator shows no stock ending with bids higher than their last selling prices and two with lower offers.
At the close, Ansa Mcal ended trading of 7,417 shares at $56.73, First Citizens Bank traded 46,240 units at $46.79, FirstCaribbean International Bank fell 39 cents to a 52 weeks’ low of $6.10after 17,423 stocks crossed the exchange, Clico Investment Fund gained 1 cent in trading 20,135 stocks at $25.50. Grace Kennedy shed 15 cents to end at $4.85, with 48,436 units changing hands, Guardian Holdings advanced 50 cents to close at $32.50 with an exchange of 45,790 stock units, Massy Holdings declined $1.73 to $67 in switching ownership of 11,084 stock units. National Flour Mills remained at $2.30 after an exchange of  95,998 stocks, NCB Financial Group closed at $8.30 with an exchange of 3,700 units, One Caribbean Media gained 1 cent to close at $4.89 after switching ownership of 6,000 units. Point Lisas remained at $2.95, with 1,000 stock units clearing the market, Republic Financial Holdings remained at $135 after trading 530 shares, Scotiabank ended after exchanging 2,002 stock units to end at $54.90. Trinidad & Tobago NGL climbed $1.49 to close at $16.49 in an exchange of 23,421 stocks, Unilever Caribbean remained at $16.33 after exchanging 2,000 units and West Indian Tobacco advanced 4 cents to end at $32.49, trading 3,203 shares.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.