ISP Finance — Page 73

Advancing juniors dominate – Friday

May 20, 2016 by IC Insider.com

Caribbean Flavours’ produce inputs. the stock gained $1.50 on Friday high.

The junior market closed slightly higher at the close of trading on Friday, with 2,388,762 shares valued at $18,020,899 changing hands, of which 2 million units were accounted for by Caribbean Flavours. The market index rose 12.04 points to end at 2,136.32 with a total of 12 securities traded of which 6 advanced and 2 declined. The market ended with bids for 7 stocks closing higher than their last selling prices and 3 ending with lower offers.
At the end of trading, AMG Packaging closed at $10.51 with 3,000 units changing hands, CAC 2000 gained 9 cents and closed at $6.50 with 1,539 units changing hands, Caribbean Cream rose 5 cents with 12,715 shares changing hands at $4.46, Caribbean Flavours traded 2,000,100 shares and rose $1.50 to end at $8, Consolidated Bakeries gained 10 cents to end at JM Trdng Sht-20-5-16

$1.60 with 10,500 shares changing hands. General Accident traded at $2.10 with 50,000 shares trading, Honey Bun closed at $22, with 2,025 shares trading, ISP Finance traded 79,943 units and ended with a 6 cents gain to close at a 52 weeks’ high of $2.85, Jamaican Teas traded 5,300 units to close at $3.90. Knutsford Express closed with a loss of 50 cents at $17.50 with 4,600 shares trading, Lasco Distributors fell 4 cents and closed with 159,489 units trading with the price closing at $7.36. Lasco Financial closed at $3.35 with 17,866 shares changing hands after rising 20 cents and Lasco Manufacturing closed at $4.44 with 41,865 shares trading.

Filed Under: JSE Junior Market, Stock Market Tagged With: AMG Packaging, C2W Music, CAC 2000, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, General Accident, Honey Bun, ISP Finance, Jamaican Stock, Jamaican Teas, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Trading Activity

LasD big day on Wednesday

May 4, 2016 by IC Insider.com

The Lasco Distributors traded 16.5m shares on Wednesday.

While Eppley stole the show on the junior market on Tuesday with gains of $69.24 and $104 million in traded value, today Lasco Distributor took the spotlight with 16,472,533 units valued at $125,043,477 while it lost 15 cents to close at $7.45. A total of 17,488,687 shares valued at $129,088,773 traded at the close.
There were two 52 weeks’ highs with 15 active securities trading, as 6 advanced and 4 declined and the junior market index rose 10.83 points, to end at 2,169.39. A total of 3 stocks closed with bids higher than their last selling prices and 5 ended with lower offers.
At the end of trading in the market, Caribbean Cream traded 3,000 units and rose 15 cents to end at $4.60, Caribbean Flavours traded 17,000 units at $8.50, Consolidated Bakery gained 3 cents with 76,757 shares changing hands at $1.38, Dolphin Cove gained 1 cent 23,856 to end at $12.51. General Accident ended trading 9,000 shares to close at $2.70, Honey Bun jumped $1.30 to end at a 52 weeks’ high of $18.30 with 7,042 shares trading, JM Trdng Sht-04-5-16

ISP Finance gained 6 cents to close at a 52 weeks’ high of $2.80 with 63,000 shares. Jamaican Teas traded 8,000 shares to end at $3.91, Jetcon Corporation ended at $2.90 while 294,854 units traded, Knutsford Express had 2,100 shares trading and gained $2.10 to close at $18.90, Lasco Financial lost 1 cent to close at $3.49 with 218,990 shares changing hands. Lasco Manufacturing lost 1 cent to close at $4.58 with 195,355 shares trading, Medical Disposables traded 62,200 shares to close 27 cents lower at $3.15 and Paramount Trading ended with 35,000 shares changing hands at $10.85.

Filed Under: JSE Junior Market, Stock Market Tagged With: Caribbean Flavours, Consolidated Bakeries, Daily Trading, Dolphin Cove, Eppley, General Accident, Honey Bun, ISP Finance, Jamaican Stock, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Medical Disposables, Trading Activity, tTech

10 juniors down 4 up on Thursday

April 14, 2016 by IC Insider.com

JM Sign build The junior market closed slightly higher on Thursday with a gain of 5.01 points to 1,825.50 but more stocks declined than gained. Trading ended with 18 active securities, 4 of which advanced and 10 declined while only 540,140 units valued at $2,757,260, changed hands.
There were only 3 stocks closing with bids that were higher than their last selling prices and 4 ended with lower offers.
At the end of trading, AMG Packaging traded only 395 units at $13.12, the stock closed with an offer to sell 10,000 units at $13. Blue Power declined by 75 cents with a mere 581 units changing hands at $11.20, Caribbean Cream traded 48,275 shares and fell 8 cents, to end at $4.02, Caribbean Flavours traded 12,500 units to end at $7.50 with a loss of 50 cents, Caribbean Producers traded 53,870 units and lost 7 cents to end at $4.03. Derrimon Trading closed at $5 with 10,000 units changing hands, but the offer was at $4.99 to sell 56,000 shares when trading ended, General Accident Insurance traded 63,000 units at $2.90 to gain 31 cents but at the close, 5,600 units were offered at $2.65. Iron Rock Insurance had 8,000 units changing hands with a loss of 25 cents, to end at $3.65, Honey Bun rose 5 cents to close at $12.55 while 18,000 shares changed hands, ISP Finance closed at $2.50 after trading 10,172 units, JM Trdng Sht 14-4-16 Jamaican Teas fell 40 cents to close at $3.41 after 16,159 shares changed hands. Jetcon Corporation ended trading with 7,000 shares with the loss of a cent at $2.69, KLE Group traded 16,018 shares and fell 22 cents, to end at $1.43, Knutsford Express closed with 23,952 units changing hands at $19. Lasco Distributors gained 2 cents to end at $5.06 with 178,600 units trading, Lasco Financial lost 28 cents to close at $2.62, with 32,817 shares changing hands. At the close there were 2,363,963 units on the bid at $2.62. Lasco Manufacturing gained 30 cents with 30,530 shares changing hands to close at $3.80 and tTech ended with 10,271 shares trading to end at $4.08 as the price fell by 14 cents.

Filed Under: JSE Junior Market, Stock Market Tagged With: AMG Packaging, Blue Power, Caribbean Flavours, Caribbean Producers, Daily Trading, Derrimon Trading, General Accident, Honey Bun, Iron Rock Insurance, ISP Finance, Jamaica Stock Exchange, Jamaican Stock, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Trading Activity, tTech

More gains for juniors on Monday

April 11, 2016 by IC Insider.com

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ISP Finance at new high on Monday.

The junior market close slightly higher on Monday with an increase of 9.79 points to close at 1,824.16. Trading ended with 17 active securities, 4 of which advanced and 3 declined as 1,018,853 units valued at $4,061,844, changed hands.
There were 5 stocks closing with bids that were higher than their last selling prices and none ended with a lower offer.
At the end of trading, Access Financial had 6,220 shares trading to close at $16.60, Caribbean Cream lost 50 cents in trading 17,450 shares at $4, Caribbean Flavours rose 55 cents with 5,698 shares trading at $8, Caribbean Producers traded 57,130 units, to end at $4.05, C2W Music had 1,000 units changing hands at 33 cents. General Accident ended trading 59,420 units and closed at $2.59, Honey Bun had just 30,500 shares trading but ended unchanged at $11, JM Trdng Sht 11-4-16 ISP Finance rose 20 cents to close at a 52 weeks’ high of $2.55 after trading 6,031 units. Jetcon Corporation lost 24 cents to close at $2.60 after 8,680 shares changed hands, Key Insurance closed at $3 with 8,050 units changing hands. KLE Group traded just 1,485 shares to gain 3 cents to end at $1.69, Knutsford Express jumped $4.50 with just 100 units changing hands at $22, Lasco Distributors ended with 319,314 units trading at $5. Lasco Financial closed at $3 with 127,872 shares changing hands, Lasco Manufacturing ended with 160,969 shares changing hands to close at $3.65, Eppley 10% preference share traded 10,000 units at $6.10 and Derrimon Trading preference share fell 15 cents to end at $2.25 with 198,934 units changing hands.

Filed Under: JSE Junior Market, Stock Market Tagged With: C2W Music, Caribbean Flavours, Caribbean Producers, Daily Trading, Derrimon Trading, Eppley, General Accident, Honey Bun, ISP Finance, Jamaican Stock, Jetcon Corporation, Key Insurance, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Trading Activity

Key Insurance list on junior market

March 31, 2016 by IC Insider.com

Natalia Gobin-Gunter Chairman and Deputy Managing director inserting name strip to indicate listing of Key Insurance on the junior market on Thursday

Key Insurance Company was listed today but did not traded by the close but had 87,500 units on the bid above the Initial Public offering price of $2.27 with bids at $2.53. ISP Finance that was listed on Wednesday and closed trading at $2.50 on the opening day did not trade today, but Jetcon Coporation that was listed on the day before Easter, traded to close at $2.90, in a market that had only modest trades, taking place.
At the close, the junior market index gained 30.46 points being added to close at 1,925.22. The market ended with 16 active securities, 6 of which advanced and 5 declined as a mere 617,159 units changed hands, valued at $2,081,398. There were 4 stocks closing with bids that were higher than their last selling prices and 5 ended with lower offers.
In trading, AMG Packaging closed at $11 with 2,500 units changing hands, CAC 2000 traded 2,620 shares at $7, Caribbean Cream traded 46,275 shares as the price rose 11 cents to end at $4.40, Caribbean Flavours fell 2 cents with 3,100 shares changing hands to end at $7.55. Caribbean Producers traded 124,000 shares to end with a rise of 60 cents at $4.80, Consolidated Bakeries had 5,000 units trading with a rise of 10 cents to end at $1.15, C2W Music gained 4 cents with 50,000 units changing hands at 40 cents, Iron Rock had 2,500 shares trading at $4, JM sum 31-03-16rv Jamaican Teas lost 5 cents in closing at $3.80 after trading 14,805 units. Jetcon Corporation traded at a new closing high of $2.90, after trading 230,128 shares, KLE Group traded at $2.10 with a loss of 10 cents with 1,000 shares changing hands, Knutsford Express closed with 2,096 units changing hands to end at $22, Lasco Distributors ended with 19,100 units trading, to end at $5.80. Lasco Financial ended at $3 with 91,755 shares changing hands after regaining 35 cents, Lasco Manufacturing ended with 20,780 shares changing hands to close at $3.70, with a fall of 10 cents and Paramount Trading closed with a loss of 31 cents and closed with 1,500 shares trading at $11.

Filed Under: JSE Junior Market, Stock Market Tagged With: AMG Packaging, C2W Music, CAC 2000, Cargo Handlers, Caribbean Flavours, Caribbean Producers, Daily Trading, Dolphin Cove, General Accident, Honey Bun, Iron Rock Insurance, ISP Finance, Jamaican Teas, Jetcon Corporation, Key Insurance, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Trading Activity

ISP list on junior market – Wednesday

March 30, 2016 by IC Insider.com

I$P ISP Finance was listed on Wednesday and closed trading at $2.50 after listing at $2. The new listing brought the junior market listings to 31 while the listing of Key Insurance on Thursday will bring the total to 32. Jetcon Coporation that was listed on the day before Easter traded to close at $2.80, the stock was offered to the public at $2.25.
At the end of trading on Wednesday, the junior market index dropped 38.69 points to close at 1,894.76. The market ended with 19 active securities, 6 of which advanced and 8 declined as 2,476,908 units changed hands, valued at $8,795,980.
At the close, three stocks closed at new highs while there were 3 stocks closing with bids that were higher than their last selling prices and 6 ended with lower offers.
In trading, AMG Packaging closed at $11 with 4,101 units changing hands, Blue Power had 7,267 shares trading but lost $1.05 to close at $13. CAC 2000 lost 40 cents in trading 6,800 shares at $7, Caribbean Flavours fell 43 cents with 5,000 shares changing hands to end at $7.57. Caribbean Producers traded 32,200 shares to end at $4.20 Consolidated Bakeries had 100,000 units trading with a loss of 7 cents to end at $1.05, Dolphin Cove had 1,850 units changing hands at 79 cents lower at $14.50. Honey Bun traded just 3,185 shares and gained 2 cents in closing at $11.03, Iron Rock had 163,004 shares trading at $4, ISP Finance traded 10,250 shares at a record high of $2.50 after adding 50 cents from the initial offered price of $2, Jamaican Teas lost 15 cents in closing at $3.85 after trading 121,235 units. JM sum 30-03-16 Jetcon Corporation traded at a new high to close at $2.80, after trading at $2.90 and ended with a gain of 24 cents while 163,973 shares were traded, Knutsford Express closed with 1,429 units changing hands to end at $22, Lasco Distributors lost 5 cents with 21,300 units trading, to end at $5.80. Lasco Financial ended at $2.65 with 52,600 shares changing hands after shedding 35 cents, Lasco Manufacturing ended with 1,688,914 shares changing hands to close at $3.80, with a rise of 30 cents, Medical Disposables rose 27 cents and closed with 800 shares trading at $3.42. Sweet River traded 92,000 shares and gained 3 cents to end at a new high of $4.05 and tTech gained 18 cents, in trading 1,000 shares at $4.48.

Filed Under: JSE Junior Market, Stock Market Tagged With: AMG Packaging, CAC 2000, Caribbean Flavours, Caribbean Producers, General Accident, Honey Bun, ISP Finance, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Medical Disposables, tTech

ISP Finance – next junior listing

March 15, 2016 by IC Insider.com

I$P ISP Finance is an unsecure loan company that is seeking to list on the junior market of the Jamaica stock Exchange with the raising just over $97 million from directors staff and the general public.
The company is now offering 48,982,500 ordinary shares to the public of which 45,900,000 are reserved for directors and employees, at $2 per share. Only a small amount, 3 million units will be available for the general public unless the reserved shares are not fully taken up. Opening Date of the offer is March 21, 2016.
ISP started operating in 2007 and has a number of years of profitability but is yet to wipe out accumulated losses. Currently there are 56 million shares issued to the Chief executive Dennis Smith and his wife. In 2015 the company reported audited profit of $30.7 million before tax but benefited from a refund of captive insurance premium of $12.3 million, excluding this, the company made profit of just $6 million. Additionally, salaries cost fell to $62.5 million from $77.6 million. While 2014 showed a loss of $4.5 million before tax after booking insurance premium of $41.7 million, excluding this amount would result in profit of just over $36 million or earnings per share of 65 cents. The earnings based on 2015 results, adjusted for the one off income, would be 10.7 cents and 65 cents for 2014. The PE based on pretax profit would be 18.7 times 2015 earnings and just 3 times 2014 numbers.
In the first four years of operation the Company’s customers were primarily employees from the security services sector. The Company has since expanded its customer base to other private and public sector workers as well as to micro and small entrepreneurs in the manufacturing, services and distribution sectors.
ISP Finance intends to strategically expand its reach geographically to other areas where there is a concentration of employed individuals and business development, including Montego Bay, Ocho Rios, Mandeville, Spanish Town, Portmore and May Pen.
The Company utilizes cash generated by the business and loans from a variety of sources to fund loans to customers. Indebtedness to banks, financial institutions and other lenders amounts to $218 million as of February 11, 2016.
Since commencing business in February 2007, the Company’s Loan portfolio has grown from approximately $2.5 million to $304 million in 2015 before provision for loan losses. Loan loss provision stood at $62 million at the end of 2015 compared with $44.5 million at the end of 2014. Loan loss expense for 2015 amounted to $18.6 or 7.75 percent of net loans and is favorable compared with Access Financial at 8.9 percent. Interest rates on loans ranges from 50 to 65 percent.
Clifton Cameron is an Independent, Non-executive Director and Chairman of the Board. He was a major owner of Manufacturers Merchant Bank that was acquired by Sagicor Bank.
The results for 2015 looks disappointing with just a small profit but results for 2014 when adjusted for the high level of insurance cost looks very promising. The company is involved in high risk business with loan provisioning amounting to 20 percent of overall loan portfolio an increase from 15.7 percent at the end of 2014. Expansion if not managed well can be costly but they will face strong competition in the market with much bigger companies than themselves.
At the end of 2015 equity capital was negative $7 million with accumulated deficit of $12 million, down from a deficit of $39 million at the end of 2014.
ISP is not the last company slated fro the junior market as IC Insider gathers that Key Insurance Company is also set to offer shares to the public to try and make the junior listing before the end of March.