TTSE closes month on a high

Trading ended on Friday with the market rising after 33 percent fewer shares at 58 percent less value changed hands than on Thursday, resulting from an equal number of stocks rising and falling on the Trinidad and Tobago Stock Exchange.

Trinidad & Tobago Stock Exchange Head Quarters

Trading ended with 17 active securities, up from 12 on Thursday, four gained, four declining and nine closing unchanged. The Composite Index gained 9.80 points to 1,335.71, up one percent for the year to date. The All T&T Index fell marginally, after two months of trading, gaining 3.39 points on Friday to close to 1,762.61 and the Cross Listed Index rose 4 percent year to date, with a rise of 2.22 points to 122.96 on Friday.
The market exchanged 135,847 shares valued at $2,664,969 verusu 203,091 units at $6,274,039 on Thursday.
An average of 7,991 units traded at $156,763 compared to 16,924 at $522,920 on Thursday. The month to date averages 15,920 units at $307,754  versus 16,358 units at $316,088. The average trade for January amounts to 13,836 units at $275,635.
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 of trading, Agostini’s gained 70 cents in ending at $23.70, exchanging 309 shares, Angostura Holdings ended at $14.60 with one unit changing hands, Ansa Mcal dipped 50 cents to $53 in trading 5,072 shares. Clico Investment Fund gained 15 cents to close at $25.75 with an exchange of 17,741 units. First Citizens Bank closed at $43.49 with the swapping of 908 shares, FirstCaribbean International Bank declined 5 cents to $7, with 9,692 units changing hands, Guardian Holdings ended at $22 with 4,560 units clearing the market. JMMB Group ended at $1.85 after 1,200 shares changed hands, Massy Holdings gained 23 cents to $61.30, with 11,106 stock units crossing the market, National Enterprises stayed at $3.12 after exchanging 11,547 shares. NCB Financial Group closed at $8.85 trading 103 stocks, Prestige Holdings gained 20 cents in ending at $7.70 with 25 units changing hands, Republic Financial Holdings fell 5 cents to $134.55 after 255 shares crossed the market. Scotiabank ended at $55.95, trading 1,754 units, Trinidad & Tobago NGL remained at $15 with 44,085 shares changing hands. Trinidad Cement closed at $3.50 in trading 24,442 stocks and West Indian Tobacco dropped 85 cents to $34 exchanging 3,047 stock units.

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

Ciboney drops 15% on Thursday

Ciboney Group price retreated after trading more than 2.5 million shares with the price falling 15 percent from Wednesday’s level on the Jamaica Stock Exchange Main Market on Thursday with the total volume of stocks trading fell 46 percent from Wednesday’s quantity as the value dropped 60 percent.
The All Jamaican Composite Index inched 3.97 points up to 430,240.96 the Main Index rose 15.10 points to 392,402.29, and the JSE Financial Index rose 0.14 points to settle at 99.94.
Trading ended with 47 securities changing hands, the same as on Wednesday and closed with prices of 14 stocks rising, 24 declining and nine ending unchanged.
The PE Ratio averages 16.6 based on ICInsider.com’s forecast of 2020-21 earnings.
Investorss exchanged 15,923,380 shares for $63,507,779 compared to 29,447,608 units at $158,590,501 on Wednesday. Transjamaican Highway led trading with 18.3 percent of total volume, after an exchange of 2.91 million shares followed by QWI Investments controlled 16.9 percent with 2.69 million units, Ciboney Group chipped in 16.1 percent with 2.56 million units. Pulse Investments controlled 11.9 percent of market share for 1.89 million units, Wigton Windfarm with 11.1 percent for 1.77 million units and Key Insurance with 9.4 percent for 1.50 million units.
Trading for the day averaged 338,795 units at $1,351,229, compared to an average of 626,545 shares at $3,374,266 on Wednesday. Trading month to date averages 399,667 units at $2,516,231, versus 403,340 units at $2,586,520 on Wednesday. Trading in January averaged 311,275 units at $1,432,133.
Investor’s Choice bid-offer indicator reading has 10 stocks ending with bids higher than their last selling prices and three with lower offers.
At the close oftrading, Barita Investments fell 36 cents to $81.14, with an exchange of 3,965 shares, Ciboney Group fell 32 cents to $1.80, with 2,562,764 shares crossing the market, Eppley shed 90 cents to end at $27.10, with 345 stocks changing hands, Eppley Caribbean Property Fund closed $1 lower at $40 in exchanging 3,408 units. First Rock Capital advanced 29 cents to $15.29 trading 8,954 shares, Grace Kennedy rose $1 to $81, with the swapping of 29,366 stocks, Jamaica Stock Exchange fell 80 cents to $18 in switching ownership of 52,808 units. Key Insurance declined 20 cents in closing at $4.80, after an exchange of 1,500,426 shares, NCB Financial dipped 40 cents to close at $141 and clearing the market with 66,981 units, Palace Amusement climbed $50 to $850 after exchanging 354 stock units, PanJam Investment fell $1 to $64, with 11,540 stock units changing hands. Portland JSX declined $1.20 to $7.10 in trading 8,000 stocks, Proven Investments closed $1.20 lower at $36 after exchanging 4,285 units, Sagicor Group gained 29 cents to close at $51.60, with the swapping of 4,089 shares. Salada Foods dropped $1 to $40.50 with a transfer of 2,182 shares, Scotia Group gained 50 cents to end at $43, with 15,411 stock units crossing the exchange. Sterling Investments shed 36 cents to $2.64 in exchanging 62,320 stocks, Supreme Ventures dropped 60 cents to close at $15.30, after a transfer of 527,323 units and Sygnus Credit Investments lost 54 cents to close at $14.95 in trading 14,288 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Falling stock prices hit TTSE

Falling stocks turn the tables on rising ones in trading on the Trinidad and Tobago Stock Exchange on Thursday, with investors trading marginally fewer shares than on Wednesday, but with value climbing 143 percent.
Trading ended with 12 active securities, down from 19 on Wednesday, with three rising, eight declining and one remaining unchanged. The Composite Index shed 1.54 points to 1,325.91, the All T&T Index declined 3.75 points to 1,759.22, and the Cross Listed Index gained 0.10 points to settle at 120.74.
Investors traded 203,091 shares, for $6,275,039 compared to 206,512 units at $2,576,525 on Wednesday.
An average of 16,924 units traded at $522,920 compared to an average of 10,869 at $135,607 on Wednesday. Trading month to date averaged 16,358 units traded at $316,088 for versus 16,335 units at $328,216. January closed with an average of 13,836 units at $275,635.

The Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and six with lower offers.
At the close of trading, Agostini’s rose 50 cents to $23, with an exchange of  21 units, Angostura Holdings fell 42 cents to $14.60 in exchanging 1,704 shares, Clico Investment Fund declined 15 cents to settle at $25.60 trading 55,406 stock units. First Citizens Bank shed 51 cents to end at $43.49, with the swapping of 1,922 stocks, Grace Kennedy lost 1 cent to $3.99, with 27,997 stock units changing hands, Massy Holdings declined $1.93 to $61.07, in trading 169 units. NCB Financial Group gained 35 cents to $8.85, with 40,014 shares crossing the market. One Caribbean Media lost 4 cents in closing at $4.81 after trading 200 stock units, Prestige Holdings ended at $7.50 in with 50 units changing hands. Republic Financial Holdings advanced 5 cents to $134.60, in exchanging 16,829 stocks, Scotiabank finished 5 cents lower at $55.95, in switching ownership of 27,554 units and Trinidad & Tobago NGL shed 25 cents to end at $15 with an exchange of 31,225 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Ciboney stunning rise clocks gains of 783%

Ciboney continues to create waves in the Jamaican financial market. The price closed at a fresh new multi-year high not seen since 1993. In Wednesday’s trading on the Jamaica Stock Exchange Main Market, the stock last traded at $2.13 with year to date gain of 783 percent.

New record high for the JSE Junior Market.

Trading on Wednesday with the market rising modestly, with 47 securities changing hands, down from 46 on Tuesday and closed with 18 rising, 16 declining and 13 remaining unchanged.
The All Jamaican Composite Index advanced 173.69 points to 430,236.99, the Main Index rose 148.82 points to 392,387.19 and the JSE Financial Index shed 0.33 points to close at 99.80.
The PE Ratio averages 16.9 based on ICInsider.com forecast of 2020-21 earnings.
Some 45 percent more shares traded with a 17 percent dip in value than on Tuesday as 29,447,608 shares traded for $158,590,501 compared to 20,247,118 units at $191,400,586 on Tuesday. Pulse Investments led trading with 47.5 percent of total volume, after 13.98 million shares changed hands, followed by Sagicor Select Manufacturing & Distribution Fund 17.9 percent with 5.27 million, Transjamaican Highway accounted for 13.8 percent with 4.06 million units, Ciboney Group chipped in 5.1 percent for 1.52 million units and Sagicor Select Financial Fund 4.2 percent with 1.25 million units.
Trading for the day averaged 626,545 units at $3,374,266, compared to 440,155 shares at $4,160,882 on Tuesday. Trading month to date averaged 403,340 units at $2,586,520 for each security, in contrast to 389,008 units at $2,535,940 on the prior trading day. Trading in January closed with an average of 311,275 units at $1,432,133.
Investor’s Choice bid-offer indicator reading has eleven stocks ending with bids higher than their last selling prices and two with lower offers.
At the close of trading, Caribbean Cement lost 50 cents to finish at $62.50 in transferring 51,901 shares, Carreras rose 39 cents to $7.70, with the swapping of 211,134 stock units, Ciboney Group closed 41 cents higher at a 36 years record of $2.12, with 1,515,402 units crossing the market. Eppley climbed $3 to $28, with an exchange of 9,867 stock units, Eppley Caribbean Property Fund fell 52 cents to $41, with 8,710 stock units crossing the market, Grace Kennedy advanced $3.50 to $80, with 530,278 units changing hands. JMMB Group gained 44 cents to end at $33, in trading 50,399 shares, Key Insurance ended 39 cents lower at $5, after exchanging 74,836 stock units, Kingston Wharves dipped 30 cents to $46.20, with a transfer of 11,753 stocks. Mayberry Investments lost 21 cents to end at $5.29, after an exchange of 42,700 stock units, Mayberry Jamaican Equities slipped 23 cents to $7, in an exchange of 7,762 shares, 138 Student Living fell $1.40 to $5.10 in exchanging two shares. Palace Amusement fell $199.90 to a 52 weeks’ low of $800, with 380 stocks crossing the market, Sagicor Group gained 31 cents to end at $51.31, in an exchange of 12,316 stocks, Salada Foods rose $1.51 to $41.50, with the swapping of 4,036 shares. Scotia Group closed 75 cents higher at $42.50, with 267,313 stock units crossing the exchange, Seprod advanced $1.54 to $69.54 trading 26,590 shares, Stanley Motta lost 35 cents to close at $5 in exchanging 31,207 units. Sygnus Credit Investments advanced 99 cents to $15.49 after transferring 70,560 stock units and Wisynco Group rose 90 cents to $16.45, with investors switching ownership of 73,639 shares.

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

Widespread gains for Trinidadian stocks

The volume of stocks trading rose moderately on Wednesday over Tuesday’s level, but at 61 percent sharply lower value as the market closed with 19 securities changing hands compared to 18 on Tuesday, with eleven rising, two declining and six traded firm, on the Trinidad and Tobago Exchange.  
The market indices all rose, with the Composite Index climbing 6.15 points to 1,327.45, the All T&T Index advanced 6.60 points to 1,762.97 and the Cross Listed Index gained 0.98 points to settle at 120.64.
Investors traded 206,512 shares at $2,576,525 versus 198,318 units at $6,657,970 on Monday.
An average of 10,869 units traded at $135,607 down from 11,018 shares at $369,887 on Tuesday. An average of 16,335 units traded at $328,216 for the month to date versus 16,710 units at $341,427. January closed with an average of 13,836 units at $275,635.
The Investor’s Choice bid-offer indicator shows two stocks with bids higher than their last selling prices and four with lower offers.
In trading, Agostini’s rose 49 cents to $22.50, with 170 shares changing hands, Angostura Holdings gained 6 cents to close at $15.02 trading 105 stock units, Ansa McAL finished 50 cents higher at $53.50 in transferring 90 shares. Calypso Macro Index Fund lost 24 cents to settle at $14.51, with an exchange of 400 stocks, Clico Investment Fund remained at $25.75 trading 23,064 shares, First Caribbean International Bank picked up 5 cents to finish at $7.05 after 36,519 stock units crossed the exchange. First Citizens Bank gained 4 cents to close at $44 trading 19,515 units, Grace Kennedy advanced 24 cents to $4, with the swapping of 69,658 stock units, Guardian Holdings rose 50 cents to end at $22 in the transfer of 4,700 units. JMMB Group remained at $1.85, after exchanging 50 stocks, National Enterprises rose 2 cents to $3.12, with the switching 9,201 shares, National Flour Mills exchanged 3,400 units at $2.35. NCB Financial Group ended at $8.50, with 31,228 stock units crossing the market, One Caribbean Media picked up 4 cents to close at $4.85 after transferring 4,411 stocks, Prestige Holdings closed at $7.50, after an exchange of 897 units. Republic Financial Holdings shed 45 cents to end at $134.55, with 621 shares changing hands, Scotiabank closed at $56 trading 478 stock units, Trinidad & Tobago NGL rose 25 cents to $15.25, in swapping 1,005 units and Unilever Caribbean gained 8 cents to finish at $16.33, in exchanging 1,000 shares.

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

Ciboney stunning 613% two months’ gain

Ciboney Group continued its extraordinary run by climbing 31 cents to finish at a new multi-year high of $1.71 on Tuesday with trading 1,438,112 units being bought by stock market investors as they pushed the gains for the year to date to 613 percent, with the stock being the leading winner of on the market so far in 2021.
Trading ended with stocks playing hopscotch, one day up one day down, on the Jamaica Stock Exchange Main Market, with the market declining after almost the same number of stocks rose as fell. The value of trading climbed 202 percent, with only 23 percent more shares exchanged than on Monday.
The All Jamaican Composite Index lost 513.21 points to end at 430,063.30, the Main Index shed 464.43 points to 392,238.37 and the JSE Financial Index lost 0.33 points to settle at 100.13.
Trading ended with 46 securities changing hands, down from 47 on Monday and closed with 19 stocks rising, 20 declining and seven remaining unchanged. The PE Ratio averages 17 based on ICInsider.com’s forecast of 2020-21 earnings.
Traders swapped 20,247,118 shares for $191,400,586 up from 16,438,991 units at $63,472,730 on Monday. Transjamaican Highway led trading with 24.1 percent of total volume, after an exchange of 4.88 million shares followed by Sagicor Select Financial Fund 16.9 percent with 3.41 million units, Wigton Windfarm 11.3 percent for 2.29 million units. QWI Investments ended with 9.8 percent of the day’s trade for 1.99 million units, Ciboney Group 7.1 percent for 1.44 million units, Sagicor Manufacturing & Distribution Fund with 6 percent for 1.22 million units and Grace Kennedy with 5.2 percent market share for 1.05 million units.
Trading for the day averaged 440,155 units at $4,160,882, versus 349,766 shares at $1,350,484 on Monday. Trading month to date averaged 389,008 units at $2,535,940, in contrast to 385,578 units at $2,426,979 on the prior trading day. Trading in January closed with an average of 311,275 units at $1,432,133.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and four with lower offers.
At the close of the market, Eppley finished 90 cents higher at $25 in trading 30,782 shares. Grace Kennedy shed 50 cents to $76.50, after clearing the market with 1,052,007 stocks. Jamaica Producers gained 20 cents in closing at $20.20, with 2,209 stocks changing hands. Jamaica Stock Exchange advanced $1.15 to $18.86, with 17,936 units crossing the exchange, JMMB Group ended 44 cents lower at $32.56 after transferring 44,530 shares, Kingston Wharves climbed $1.50 to $46.50 after an exchange of 2,500 stocks. 138 Student Living rose 45 cents to $6.50 after exchanging 8,916 units, PanJam Investment shed 50 cents to end at $65, in switching ownership of 43,014 shares, Proven Investments lost 33 cents to $37.20 trading 11,441 stock units, Sagicor Group fell 70 cents to $51 with 20,215 stocks clearing the market. Salada Foods advanced $2.99 to $39.99, with the swapping of 40,380 units, Scotia Group declined by $1.25 to $41.75, after exchanging 132,995 shares, Seprod shed $1 in closing at $68 with 3,164 stock units changing hands. Sygnus Credit Investments fell $1.10 to $14.50, in exchanging 51,037 units and Wisynco Group shed 95 cents to close at $15.55, with 94,561 shares changing hands.
In the preference segment, Eppley 8.75% preference share shed 55 cents in closing at $6.85, with 634 units crossing the market.

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

Slippage in Trinidad stocks

Market activity resulted in more securities trading on Tuesday, accounting for slightly fewer shares changing hands with a 34 percent slump in value compared to Monday, at the close of the Trinidad and Tobago Stock Exchange.

Trinidad & Tobago Stock Exchange Head Quarters

Trading took place in 18 securities compared to 16 on Monday, with two rising, six declining and ten remaining unchanged. The Composite Index declined by 4.99 points to 1,321.30, the All T&T Index dropped 9.11 points to 1,756.37 and the Cross Listed Index lost 0.11 points to settle at 119.86.
The market closed with 198,318 shares trading at $6,657,970 versus 200,068 units at $10,154,587 on Monday.
An average of 11,018 units traded at $369,887 down from 12,504 shares at $634,652 on Monday. An average of 16,710 units traded at $341,427 for the month to date versus 17,105 units at $339,450.  January closed with an average of  13,836 units at $275,635.
The Investor’s Choice bid-offer indicator shows four stocks with bids higher than their last selling prices and four with lower offers.
In trading, Agostini’s gained 1 cent to $22.01 trading 15 shares, Angostura Holdings remained at $14.96 after exchanging 170 units, Clico Investment Fund gained 20 cents to close at $25.75, with 3,784 shares crossing the exchange. First Citizens Bank lost 4 cents to end at $43.96, in transferring 1,250 units, Guardian Holdings ended at $21.50 in trading 20 stocks, Guardian Media ended at $3.25, with 5,500 shares changing hands. JMMB Group slipped 2 cents to $1.85, with an exchange of 10,000 stock units, Massy Holdings ended at $63 trading 73,723 units, National Enterprises lost 2 cents to close at $3.10 in swapping 400 stock units. National Flour Mills traded 50,000 shares at $2.35, NCB Financial Group ended at $8.50 in trading 2,000 stock units, One Caribbean Media ended at $4.81, with 600 units changing hands. Point Lisas closed at $3.01 after transferring 500 stocks, Republic Financial Holdings remained at $135 after 2,971 shares crossed the exchange, Scotiabank finished at $56 with 21,473 shares switching owners. Trinidad Cement shed 25 cents to $3.50, with the swapping of 23,846 stock units, Trinidad & Tobago NGL lost 10 cents to close at $15, after trading 2,000 units and Unilever Caribbean lost 8 cents, ending at a 52 weeks’ low of $16.25 in transferring 66 units.

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

JSE majors enjoy market index rise

Stocks ended a mixed day of trading with the market indices climbing at the close of trading on the Jamaica Stock Exchange Main Market ended trading on Monday even after more stocks declined than rose, with 46 percent more shares trading than on Friday.
At the close, the All Jamaican Composite Index gained 1,612.03 points to 430,576.51, the Main Index climbed 1,458.81 points to 392,702.80 and the JSE Financial Index gained 0.87 points to settle at 100.46.
Trading ended with 47 active securities, up from 46 on Friday, with 13 rising, 20 declining and 14 remaining unchanged. The PE Ratio closed with an average of 17.1 based on IC Insider.com’s forecast of 2020-21 earnings.
Traders exchanged 16,438,991 shares for $63,472,730 compared to 11,266,697 units at $57,405,399 on Friday. Transjamaican Highway led trading with 26.1 percent of total volume, after 4.29 million shares changed hands followed by Wigton Windfarm with 16.1 percent for 2.64 million units. Sagicor Select Financial Fund accounted for 13.5 percent market share with 2.23 million units, Ciboney Group 11.2 percent with 1.84 million units, Sagicor Select Manufacturing & Distribution Fund 8.2 percent for 1.34 million units and QWI Investments with 6.3 percent of the day’s trade for 1.04 million units.
Trading for the day averaged 349,766 units at $1,350,484, compared to 244,928 shares at $1,247,943 on Friday. Trading month to date averaged 385,578 units at $2,426,979, versus 388,213 units at $2,506,158 on Friday. Trading in January averaged 311,275 units at $1,432,133.
Investor’s Choice bid-offer indicator shows nine stocks ending with bids higher than their last selling prices and four with lower offers.
At close of trading, Berger Paints rose 57 cents to $13.88, with 180 shares changing hands, Ciboney Group increased 7 cents to a new multi-year high of $1.40 with an exchange of 1,842,996 stock units, First Rock Capital dropped $1 to $15, trading 1,594 stock units, Jamaica Producers lost 32 cents at $20, with the swapping of 36,429 stocks. Jamaica Stock Exchange shed $1.29 to close at $17.71 after trading 26,436 units, JMMB Group rose 50 cents to $33, with a transfer of 36,696 shares, Key Insurance closed 30 cents lower at $5.20, with an exchange of 48,232 units. Kingston Wharves lost 55 cents to end at $45, with 5,651 shares crossing the market, Palace Amusement climbed $92.99 to $999.99 after exchanging 52 stock units. 138 Student Living fell $1.95 to $6.05 in exchanging 82,943 shares, PanJam Investment dipped 52 cents to $65.50, in an exchange of 25,618 units, Proven Investments shed 46 cents to $37.53 with 2,000 shares changing hands. Sagicor Group rose $1.60 to $51.70, with 13,166 stocks crossing the exchange, Salada Foods declined by $3 to $37, with the swapping of 23,788 shares, Scotia Group advanced by $2 to $43 after exchanging 54,147 units. Seprod climbed $2.15 to $69, with 16,385 stock units changing hands, Stanley Motta lost 25 cents in closing at $5.20 trading 418 shares and Sygnus Credit Investments rose $1.17 to $15.60, in transferring 69,924 stocks.
In the preference segment, JMMB Group 7.25% rose 35 cents to $1.60 trading 7,856 shares.

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

FESCO worth a buy-in

Investors need to separate investments that can make them money from a great investment to hold long term. It is against this background that the latest IPO should be viewed.
Future Energy Source Company Limited (Fesco) initial public offer is set to open on February 25, with 500 million shares for sale at 80 cents each, with 200 million units being sold by existing shareholders.
Of the total, 325 million units are reserved for priority applicants and 175 million for the wider public to list on the Junior Market. The shares are not a great investment on the surface, but an opportunity exists to profit from an investment in the short to medium term. If all the shares offered for sale are subscribed to, the number of issued shares will rise to 2.5 billion units and the company will collect $240 million before expenses for the portion offered by them.
Proceeds from the company’s subscription of shares will support the growth of the existing businesses and allow the company to pursue strategic investment opportunities and pay the expenses of the issue.
The company was incorporated in February 2013 and made the first fuel sale in November of that year. In 2014, the first FESCO branded service station was unveiled in Mandeville and have grown to fourteen branded Service Stations. Two additional service stations, are to be opened this year, one at Ferry on Mandela Highway by April and the second at Beechwood Avenue, St. Andrew in June.
”Our current market share for transportation fuel is approximately 4.65 percent (April 2020- September 2020) and is expected to increase to 5.3 percent by March 2021 and 7 percent by December 2021. We estimate that FESCO’s market share reflects three (3) main facts: a) we are a relatively new company (operating for just over six (6) years) whose initial strategy has been to grow organically rather than through acquisitions; b) as at September 2020, we have very little presence in the Kingston and St. Andrew (KSA) fuel market. Our KSA offerings are limited to FESCO Stony Hill and FESCO Rock Hall, both of which are in the more rural parts of St. Andrew; and c) the dominance of the multinational brands in the industrial and commercial space where they provide fuels to private clients”, the prospectus states.
”FESCO’s current market share of transportation fuels at September 2020 is 4.65 percent up from 3.8 percent in 2019 and 3.5 percent in 2018 and it estimates that its market share will increase to 5.3 percent by March 2021 and 7 percent by December 2021”, the prospectus further stated.
FESCO’s sales significantly outstripped the 2019 performance in litres sold. In fact, FESCO’s April through September 2020 sales in litres of transportation fuels sold is 6.6 percent ahead of its performance for the same period in 2019 despite the impact of COVID-19 and the overall market declining 13.9 percent.
FESCO is yet to enter the commercial or retail LPG market estimated at 13,957,716 or between J$1.5 billion to $1.9 billion monthly.
Revenues increased from $3.754 billion in 2016 to $5.94 billion in 2020 representing a compounded average growth (CAGR) of 12.1 percent.  Over the period, gross profits increased from $28.2 million to $178.3 million, with a CAGR of 58.6 percent. FESCO increased its gross profit margin to its dealers as its brands became more recognized and demanded by customers from 0.75 percent in 2016 to 3 percent in 2020.
From the 2015 financial year through to the 2020 financial year, average monthly volumes increased from 2,502 million litres to 3,743 million litres, a CAGR of 8.4 percent. Pre-tax profits increased by J$87 million or 172 percent to $137 million in 2020 up from $50 million in 2019.
Revenues over the period April 2020 to September 2020 was $2.811 billion down 5.84 percent from the comparative period of September 2019, a decline of $175 million from 2019 turnover of $2.99 billion. Profit before taxes for the period to September 2020 was $65 million, similar to that earned in 2019. The projection for revenues to March this year is $6 billion, with profit of $151 million for earnings per share before tax of 7 cents and a price earnings ratio of 11.4 that compares well to Tropical Battery that listed in January and now has a PE of 14.6. ICInsider.com forecasts 13 cents per share to March 2022 with the PE at 6 and the price rising to $2.50 by then.  The prospectus was withdrawn due to projections to 2025 that appears to overstate the forecasted administrative costs by approximately $100 million per annum.
The company’s financial status strong with Shareholders’ equity at the end of September at $255 million, borrowings amount to just $63 million and cash on hand of $99 million.
First, the negatives. If the company succeeds with the IPO, it will have the largest board of directors of any Junior Market company, with 11 members. That is a great sign of management weakness. Grace Kennedy and NCB Financial have nine directors, while Scotia Group has 11. Those are vastly bigger and more complex entities that FESCO. The company relies solely on distributors for revenues in a sector that has been subject to industrial disputes from time to time and government regulations. Gross profit margin is primarily subject to worldwide price fluctuation in global petroleum prices.
On a positive note, the downturn in demand for petrol seems to be easing and should help boost revenues in the immediate period ahead. This year’s opening of two new service stations will help grow revenues by ten to twenty percent in a full year. One of the new stations will be owned and operated by the company. The company is relatively small, commanding less than 10 percent of the market, leaving much room for above-average growth with good scope for gain in market share. Additional, with the local economy poised to grow that, should aid growth as well.

Up 454% for 2021

Ciboney Group added 30 cents to close at a multi-year high of $1.33 after trading 1,395,212 stocks following 3.8 million units that traded on Thursday, as the stocks post a stunning gain of 454 percent for the year to date to be the best performing Jamaica Stock Exchange-listed stock.  
ICInsider.com gleans that the rationale for the rise of the stock for a company with no earnings and very little assets could be the prospect of its use in a reverse takeover vehicle into which profitable assets can be placed to benefit from a company that is already listed on the exchange.
The market closed Friday with the All Jamaican Composite Index dipping 929.42 points to 428,964.48, the Main Index falling 912.47 points to 391,243.99 and the JSE Financial Index losing 0.56 points to settle at 99.59.
Trading ended with 46 securities changing hands, down from 49 on Thursday and closed with prices of 18 stocks rising, 18 declining and 10 remaining unchanged. The average PE Ratio closed at 17 based on ICInsider.com forecast of 2020-21 earnings.
Traders exchanged 11,266,697 shares for $57,405,399 compared to 11,779,247 units at $46,765,256 on Thursday. Transjamaican Highway led trading with 37.3 percent of total volume, after 4.20 million shares changed hands, followed by Wigton Windfarm with 14.7 percent for 1.65 million units and Ciboney Group with 12.4 percent market share for 1.40 million units.
Trading averaged 244,928 units at $1,247,943, compared to 240,393 shares at $954,393 on Thursday. The month to date averaged 388,213 units at $2,506,158 in contrast to 399,327 units at $2,608,760 on Thursday. Trading in January averaged 311,275 units at $1,432,133.
Investor’s Choice bid-offer indicator reading has ten stocks ending with bids higher than their last selling prices and three with lower offers.
At the close of the market, Berger Paints gained 30 cents ending at $13.31, with the swapping of 14,049 units, Caribbean Cement rose $1.50 to $63, in trading 5,650 stock units. Eppley shed 60 cents to settle at $24.10 after transferring 23,295 shares, First Rock Capital gained 50 cents to close at $16 after 4,822 units crossed the exchange. Jamaica Producers picked up 31 cents to end at $20.32, with 7,800 stocks changing hands, JMMB Group slid 70 cents to close at $32.50, with 42,418 shares clearing the market, Kingston Wharves fell $2.45 to $45.55 in swapping 11,272 stocks. MPC Caribbean Clean Energy shed $1 to $155 trading just two stock units, NCB Financial rose $1.40 to $141.40, with 113,331 shares crossing the market, 138 Student Living climbed $2.95 to $8 with 42,000 shares changing hands, PanJam Investment finished 82 cents higher at $66.02 trading 31,451 stock units. Scotia Group dropped $1 to $41 after exchanging 88,740 units, Seprod declined $2.15 to $66.85, with the swapping of 20,321 shares, Sygnus Credit Investments lost 47 cents to end at $14.43, with 26,619 stock units crossing the exchange. Victoria Mutual Investments closed 50 cents lower at $5.30, with 325,640 stocks changing hands.
In the preference segment, Eppley 8.75% preference share rose 40 cents to end at $7.40, in switching ownership of 1,000 units.

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