At the end of trading on Wednesday the Junior Market index had its third consecutive day of rising prices, to end at a new record of 868.99, at 8.03 points ahead of Tuesday’s record close. With 10 securities trading, the market ended with 707,451 units changing hands valued at $2,938,261. The JSE Junior Market close with the price of 5 stocks advancing and 1 declining including 1 closing at a 52 weeks’ high.
At the close, there were 3 stocks with bids higher than their last selling prices and only 1 with a lower offer, this is an early sign that investors may be cooling their aggressive stance in picking up stocks. The junior market ended with 3 securities closing with no bids to buy and 7 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Cargo Handlers having 10,000 shares trading to close at $22.08, Caribbean Cream closed with 1,495,613 shares trading at $1.05, Caribbean Producers with 147,200 shares trading at $2.88, General Accident Insurance concluded trading with 86,000 shares changing hands to close 10 cents higher at a new 
52 weeks’ high of $2.15. Honey Bun ended with 10,800 shares changing hands to close higher by 20 cents at $2.90, Jamaican Teas ended trading with 5,000 shares after adding 15 cents to end at $2.90, Lasco Distributors finished trading with 11,219 shares to closed at $1.70, Lasco Financial Services finished trading with 89,336 units, the price rose 8 cents to $1.45. There was dealing in 212,781 Lasco Manufacturing’s shares, the stock traded lower by 5 cents to $1.35 and Medical Disposables contributed 31,415 shares with the price remaining unchanged at $1.80.
New record for junior market
Bottle heating machine at Lasco Manufacturing. The company’s closed at a 52 weeks high.
Trading picked up on the Junior Market in the early hours of trading but slowed done considerable thereafter in the end it closed with 11 securities trading, and ended with 707,451 units changing hands valued at $2,017,008. The JSE Junior Market closed with the price of 5 stocks advancing and 3 declining including 4 that closed at 52 weeks’ highs.
At the close of the market, there were 2 stocks with bids higher than their last selling prices and only 1 with a lower offer. The junior market ended with 3 securities closing with no bids to buy and 7 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Access Financial trading 39,172 units at $15.10, AMG Packaging ending with 7,830 shares changing hands to close at $3.30, Cargo Handlers finished with 500 units to close at a new high of $22.08, after adding 8 cents. Caribbean Cream with just 100 shares trading, gained 9 cents to close at a new
52 weeks high of $1.05, Caribbean Producers with 248,000 closed at $2.88 but traded the bulk of them at $3, General Accident Insurance concluded trading with 26,000 shares changing hands, to close 23 cents higher, at a new 52 weeks’ high of $2.05. Honey Bun closed trading with 1,200 shares to gain 60 cents and end at $2.70, Knutsford Express closed with 1,000 shares trading at $6. Lasco Distributors ended with 227,498 shares trading, 1 cent higher, at $1.50, Lasco Financial Services finished trading with 55,531 units, the price slipped 7 cents to $1.37 and Lasco Manufacturing closed with 100,620 units at $1.40 to gain 3 cents and closed at a new 52 weeks’ high.
Honey Bun sweetens profits
Honey Bun continues to recover from poor results for 2014 with a 20 percent sales growth in the second quarter of the current financial year and an increase in gross profits of 24 percent compared with the corresponding period last year.
Honey Bun ended at a 52 week’s closing high on Thursday.
Profits also benefited from improvement in gross profit margins, which increased to 43.6 percent in the quarter from 42.3 percent in 2014 and came in at 44.4 percent for the six months, up from 44.07 percent. Earnings per share ended at 50 cents for the six months and the company should go on to increase this in the remaining quarters.
The improved revenue picture translated into profit before taxes, rising 145 percent over the prior year for the quarter of $30.5 million. The increase was partially due to the normalizing of distribution costs compared to 2014, when there were disruptions to this aspect of the business. For the year to date, sales revenues increased 16 percent, and profits climbed 41.6 percent to $47 million. Sales and profit would have benefited from the Easter falling to the end of the quarter. The company usually have a poor September quarter with lower revenues than the others.
Administrative costs rose marginally in the quarter to $44.79 million. In 2014, Honey Bun incurred $43.98 million in this category and for the six months, $89.85 million versus $85.24 million. Selling & distribution costs rose to $32 in the quarter from $30 min 2014 and for the six months, $62.3 million compared with $52.9 million. “Exports increased by 43 percent for the quarter and by 66 percent year to date over the corresponding periods’, management indicated.
The company’s equity stood at $356 million while cash and investments grew to $61 million, receivables of $72 million were slightly up on 2014 levels while inventories kept steady at $45 million and payables declined to $56 million from $64 million in 2014.
The company’s stock last traded on the junior market at $1.90 but now has a bid at $2.35 to buy 12,000 units.
Juniors gain with 5 stocks rising
Cargo Handlers closed at an all time high of $21
An indicator of the state of the market at the close, can be seen by the number of stocks with bids versus offers, as well as the numbers that close with bids being higher or lower than the last sale price. AT the close there were 4 stocks with bids higher than their last selling prices and only 1 with a lower. The junior market ended with 5 securities closing with no bids to buy and 9 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Blue Power trading 6,000 units and gained $1.30 to end at $8.81.
Caribbean Cream had 11,000 units changing hands and ending 16 cents higher at 81 cents, Caribbean Producers had 80,935 shares trading at $2.99 with a loss of 11 cents. Cargo Handlers closing at an all-time high of $21, while trading 10,000 units, to gain 89 cents. Honey Bun gained 2 cents, in trading 1,500 shares to end at $1.90, up 8 cents, Jamaican Teas had 12,422 units changing hands at $2.55, Knutsford Express closed with 7,016 units changing hands at $6, Lasco Distributors had 523,076 shares trading to close at $1.45 with no stock on offer at the close. Lasco Financial Services had 3,500 units changing hands traded at the close at $1.30, Lasco Manufacturing traded 821,444 shares and closed at $1.35 and Medical Disposables ended with 300,000 trading at $1.70.
Junior standoff holds back trading
Knutsford Express closed at a new all time high of $6 on Thursday.
At the close, there were 4 stocks with bids higher than their last selling prices and 1 with offer that was lower. The junior market ended with 4 securities closing with no bids to buy and 10 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, are Caribbean Producers with 117,000 units,
at $2.70 for a 38 cents gain Honey Bun ending with just 1,937 shares trading unchanged at $1.82. Knutsford Express traded at a new high of $6 by adding 20 cents with only 2,580 shares changing hands, Lasco Distributors traded 4,000 shares between $1.38 down 5 cents but closed with a bid at $1.40, to buy 50,000 shares, with offers at $1.43 for 110,736 unitsand Lasco Financial gained 7 cents to $1.15 while trading 17,046 shares.
CPJ trades 1.74m shares
Activity on the Junior Market ended with 9 securities traded, comprising 2,201,563 units changing hands, valued at $4,588,656, Caribbean Producers dominated trading with more than 1.74 million units to close at $2.31 in only two trades as the stock gained 1 cent. The JSE Junior Market Index declined 7.17 points to close at 740.74, with the price of 6 stocks advancing and 2 declining and 1 remained unchanged.
At the close of the market, there were 3 stocks with bids higher than their last selling prices and 1 with the offer that was lower. The junior market ended with 5 securities closing with no bids to buy and 10 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Caribbean Cream trading 25,055 shares at 65 cents as the price rose by 5 cents. Caribbean Flavours had 10,968 units changing hands, 5 cents higher at $1.85, Derrimon Trading put through 15,000 shares at $2.04, Honey Bun traded 10,000 shares but lost 11 cents in closing at $1.80. Lasco Financial Services had 15,000 units trading 5 cents higher, at $1.15, Lasco Manufacturing traded 352,851 units for 7 cents more at $1.13, Medical Disposables put through 27,000 shares in trading and ended up 4 cents better off at $1.80 and Paramount Trading had 4,905 units changing hands at $3.55 for a 55 cents fall.
Access up $1.72 to $13.22
Access traded at up $1.72 on Tuesday with limited volume.
At the close of the market, there were 4 stocks with bids higher than their last selling prices and just 1 with a lower offer. The junior market ended with 6 securities closing with no bids to buy and 10 that had no stocks being offered for sale.
Stocks trading in the junior market are, Access Financial trading only 100 shares at $13.22, as the price rose $1.72, Paramount Trading gained 20 cents in closing at $3.80 with 1,100 shares changing hands. Honey Bun traded 1,550 units at $1.91, Lasco Distributors ended trading with 92,800 units at $1.37 while ended with 34,354 units changing hands at $2.30, Caribbean Flavours & Fragrances lost 11 cents in trading 35,000 shares at $1.80 and General Accident Insurance lost 9 cents while trading 32,000 units to end at $1.71.
Is this Honey worth buying?
Honey is a sweet product savoured by many, but is this Honey likely to attract many to buy into it? Junior Market listed Honey Bun is reporting first quarter results to December, which is not so sweet, but the results to come could get sweeter as the year unfolds based on many factors.
The company enjoyed increased sales of 11.6 percent, hitting $206 million and resulting in gross profit growing by 11.3 percent compared with the corresponding period last year. As gross profit margin fell slightly to 45.4 percent compared with 45.54 in 2013 and administrative and distribution costs rose by 17.4 percent, profit also declined, falling 17 percent for the quarter to $16.5 million or 17 cents per share. “This reduction was mainly due to increased distribution cost resulting from the takeover of a large contract distributor to maintain our customer service and the lease of vehicles due to accidents of two of our main distribution vehicles. Improvements in this area will be seen in the next quarter. Further, one time cost was incurred during this period as the building on the property acquired was demolished,” management reported, in a statement accompanying the financials.
In the last fiscal year to September, profit fell from $35 million in 2013 to only $23 million partly. The decline was due to added costs associated with the distribution of the products that rose by 20 percent when revenues grew by only 5.7 percent, gross profit margin slipped marginally in the last fiscal year, from 42 percent to 41 percent. But Honey Bun is set to benefit from a fall in the price of fuel used in the transport area and reduced energy cost based on a reduction in rates charged by Jamaica Public Service Company.
The bulk of profit is made in the first six months of the year, with the Easter period significant for sales. The September period is usually a period of losses. The company should be looking at earnings in the 50-55 cents region for the current year with reduced cost in some areas and continuation of growth in sales.
“Exports continue to rise and increased year over year corresponding period by over 150 percent. This was mainly due to the export of its Buccaneer Jamaica brand of fruitcakes to the UK market, where Honey Bun displayed their cakes in ASDA for the first time. We have also seen increased demand in the local market.” the company’s management reported.
At the end of the period, equity stood at $325 million in contrast to borrowed funds of only $64 million and cash funds of $33 million. The current asset ratio was 1.64 to 1.
The company’s stock last traded on the junior market of the Jamaica Stock Exchange at $1.91 and should enjoy some gains if the company hits the projected profit or comes close to it. The stock closed on Thursday with a bid to buy 20,994 units at $1.91, followed by a bid for 99,900 units at $1.80 but offers start at $2.90 to sell 11,000 units.
8 junior bids more than last sale
Activity on the Junior Market closed with 7 securities traded, ending with 123,044 units changing hands valued at a mere $321,011. The JSE Junior Market Index gained 2 points to close at 707.57, with the price of 2 stocks advancing and 2 declining.
At the close of the market, there were 8 stocks with bids higher than their last selling prices and 2 stocks with offers that were lower, a strong indicator of rising prices ahead. The junior market ended with 6 securities closing with no bids to buy and 8 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Access Financial finishing trading with 10,310 units as the price gained 29 cents to $10, 
Lasco Financial with 49,804 shares changing hands, 2 cents higher to $1.07, Consolidated Bakeries concluding trading with 2,000 shares changing hands at 82 cents, Eppley 9.5% preference shares trading 11,694 units at $6. General Accident finishing trading with 22,470 shares at $1.67, AMG Packaging closing with 12,260 units trading lower by 24 cents at $2.25, and Honey Bun dealing in 14,506 units with a loss of 4 cents to $1.91.
Derrimon Trading 11.75% preference share, was listed on Friday but there were no trades, nor interest to buy or sell during the day.
3 junior stocks rise 3 fall on Friday
Activity on the Junior Market closed with 8 securities traded and ending with 369,749 units changing hands valued at $569,856. The JSE Junior Market Index declined 3.23 points to close at 704.94, with the price of 3 stocks advancing and 3 declining.
At the close of the market, there were 6 stocks with bids higher than their last selling prices and 2 with offers that were lower. The junior market ended with 3 securities closing with no bids to buy and there were 7 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Honey Bun contributing 11,567 shares with a gain of 4 cents to $1.95, Paramount Trading in concluding trading with 27,661 shares gained 10 cents to $3.60, Sweet River Abattoir finishing trading with 2,000 shares, the price gained 1 cent to $3.87.
General Accident had dealing in 104,400 shares at $1.65, Lasco Manufacturing contributing 156,182 shares at $1.15, Consolidated Bakeries finishing with 20,000 units to close lower by 8 cents to 82 cents, Lasco Distributors closing with 39,939 units as the price slipped 3 cents to $1.45, Medical Disposables finishing trading with 8,000 units to close lower by 5 cents to $1.70.