The Jamaica Stock Exchange corrected Friday’s error in the movement of the market indices to reflect the correct changes based on the close on Thursday and Friday.
The error in the market indices showed the sharp difference reported for the rise in the indices on Friday. The report shows the indices above the closing levels on Thursday but the official market report shows that main market and composite indices fell by more than 1,200 points and the junior market rising only 7.21 points when the closing index on Thursday and Friday show a rise of 29.39 points.
The market closed on Monday with 25 securities changing hands with 2 trading in the US dollar market. In the main market, 9 stocks advanced and 10 declined.
Trading levels in main market ended at 2,602,058 units valued at $79,186,131 compared to 7,683,386 units valued at $59,552,400 at the close on Friday. Trading in the US dollar market accounted for 3,316 units valued at US$962.
The All Jamaica Composite Index advanced 828.57 points to close at 245,253.44 the JSE Market Index gained 754.92 points to finish at 223,453.67 and the JSE US dollar market index remained at 210.21.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 282,723 units on Friday, compared to an average of 184,556 units on the previous trading day. The average volume for the month to date, ended at 248,740 units versus 214,756 units on the prior trading day. The average volume and value for February, ended at 223,938 units and $1,379,459.
In market activity, Berger Paints closed at $13, losing $2 with 3,799 shares changing hands, Cable and Wireless lost 4 cents to close at $1.30 with trades of 645,652 shares, and Caribbean Cement closed 20 cents higher to $32.20 with an exchange of 19,345 units. Carreras traded at $69, for a loss of 50 cents with 6,800 shares exchanged, Grace Kennedy closed 50 cents higher to $43 with 6,757 units changing owners, Jamaica Broilers traded 61,027 shares at $16, Jamaica Producers gained 50 cents to close at $16 with 5,209 shares exchanged, and Jamaica Stock Exchange closed 23 cents higher to $7.53 with trades of 23,712 units. JMMB Group lost 50 cents, closing at $17 with 23,836 units traded, 
Kingston Properties closed at $16.35 trading 200 shares, Kingston Wharves gained 55 cents to close at $31.75, with 6,034 units changing hands, Mayberry Investments closed 60 cents lower to $4.70 with an exchange of 124,821 shares, NCB Financial Group lost 49 cents to close at $61.50, after exchanging 11,943 shares, 138 Student Living closed at $4.50 with 13,015 units exchanged, Pan Jamaican closed at $35.01, with gains of 76 cents trading 145,770 shares. Pulse Investments was down 5 cents, closing at $8.45 with an exchange of 1,809 units, Sagicor Group closed at $33.50 trading 86,987 shares, Sagicor Real Estate fund added 1 cent to close at $10.56 with 39,600 shares traded, Salada closed at $9, losing 24 cents exchanging 320 shares, Scotia Group added 65 cents to close at $39, with 1,960 units exchanged, Scotia Investments traded $2.05 higher to close at $38.05 with 105,759 units changing hands, Seprod closed at $38, for a loss of 55 cents with trades of 600 shares, and Supreme Ventures closed at $6, losing 29 cents trading 3,175 shares. Proven closed at 29 US cents with an exchange of 3,316 ordinary shares, JMMB 7.5% preference share traded 497,190 units at $2 and JMMB Group 7.5% preference share closed 1 cent lower to $1.09 with trades of 766,738 units.
JSE climbs on Monday
Big Berger gain lets in Scotia
Scotia enters IC Insider.com’s TOP 10
A big 36 percent jump in the price of Berger Paints kicked it out of the main market TOP listing, allowing Scotia Group into the top list for the very first time. Berger returned to its 52 weeks high of $15 at the end of the week but had 103,511 units on offer at $15 with buying of 1,735 units at $13.01.
The top main market stocks now sell at a 50 percent discount to the average main market stocks and is lower than the discount of stocks in the junior market.
Pulse Investments gained 21 percent during the past week, to end at $8.50 and was the second largest mover in the top listing for main market stocks. Pulse has offers for 118,391 units at $8.50 and buying at $8 for 1,500 shares. Carreras earnings have been up graded with the increase in the price of cigarettes this month, following increased taxes on the product. Interest in the stock is not great currently, with 21,125 on offer at $69.50 and buying of 2,000 shares at $69.20.
Radio Jamaica closed the week with 990,792 units on offer at $1.90 and buying for 5,300 units at $1.80. Barita Investments has limited buying interest at the current price with just 447 units on the bid at $6.85 and 171,830 units on the offer at $6.90. With the increased level of construction activity currently taking place in Jamaica and plans for increase construction to meet growing demand for commercial and residential units in the sector, Caribbean Cement’s weak demand continues in the mid-thirty dollar range, with the stock closing with only 2,000 units on the bid to buy at $31.50 while offers are at $32.45 to sell 24,440 units. JMMB Group weakened in the week and now sits at $17.50 but buying is on the weak side, with 5,000 units on the bid at $16.60 and only 378 units offered at $17.50.
Top 10 junior market stocks are trading at a 40 percent discount to the average of the junior market, at the close of the week, this is after Lasco Distributors fell out of the top listing and is replaced
by Lasco Financial Services that suffered a reduction in price during the week to $3.70.
During the past week ISP Finance hit a new high of $12.25 up from $11.75 at the close of the previous week, the stock still sits high on the list at number 3. Access Financial and Jetcon had a bit of price movement during the week, with both closing lower than the week before.
Price movements remained volatile during the past week, as buy and sell orders remained thin for several stocks. With little new news to come until a flood of first quarter results start to flow volatility is likely to continue for a few weeks and this could provide patient investors with some good entry points, if bids and offers are strategically placed. The sharp one week move in Berger signals that supply may not last too long before demand kicks in.
JSE climbs again on Friday
The Jamaica Stock Exchange continues to have challenges with their new trading system that was implemented in February. Making matters worse is that personnel at the exchange have refused to vet reports they put out in the public’s domain.
The end result is that indices changes are sometimes wrong or can’t be relied and some stocks are left off the trading reports.
The market closed on Friday with 24 securities changing hands with 2 trading in the US dollar market. In the main market, 12 stocks advanced and 8 declined.
The All Jamaica Composite Index advanced 911.85 points to close at 244,424.85 the JSE Market Index gained 830.80 points to finish at 222,698.74 and the JSE US dollar market index lost 7.95 points to 210.21.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 282,723 units on Friday, compared to an average of 184,556 units on the previous trading day. The average volume for the month to date, ended at 248,740 units versus 214,756 units on the prior trading day. The average volume and value for February, ended at 223,938 units and $1,379,459.
In market activity, Barita Investments traded 28,170 shares at $6.90, Berger Paints advanced $2 to close at $15, trading 25,128 shares, Cable and Wireless closed at $1.34, adding 4 cents with trades of 1,975,825 shares, Caribbean Cement closed 20 cents higher to $32 with an exchange of 14,902 units. Carreras traded at $69.50 with 7,400 shares changing hands, Grace Kennedy closed $1.40 higher to $42.50 with trades of 4,978 units, Jamaica Broilers exchanged 538,378 shares at $16, Jamaica Producers traded 50 cents lower to $15.50 with 12,638 shares changing owners, Jamaica Stock Exchange closed at $7.30, for a loss of 66 cents with an exchange of 3,058,750 units. JMMB Group slid 48 cents, closing at $17.50 with trades of 532,746 units,
Kingston Properties closed at $16.35, rising 15 cents in trading 20,976 shares, Kingston Wharves gained 20 cents to close at $31.20, with 6,693 units changing owners, Mayberry Investments added 10 cents, closing at $5.30 with an exchange of 5,000 shares, NCB Financial Group closed with gains of 99 cents to $61.99, after exchanging 31,659 shares, 138 student Living closed 10 cents lower to $4.50, with 199,483 units being exchanged, Pan Jamaican rose 19 cents higher to $34.25, trading 192,491 shares. Sagicor Group closed at $33.50 trading 60,520 shares, Sagicor Real Estate Fund lost 20 cents to close at $10.55 with an exchange of 6,600 shares, Scotia Group added 15 cents to close at $38.35, with 23,403 units traded, Scotia Investments climbed $1.50 in trading 13,000 shares at $36, Seprod closed at $38.55, for a loss of 45 cents with 10,500 shares, Supreme Ventures closed at $6.29, with 37,777 shares changing hands. Margaritaville Turks traded 7 US cents lower to close at 23 US cents with 1,875 units exchanged, Proven Investments gained 2 US cents to close at 29 US cents trading 5,499 ordinary shares and JMMB Group 7.5% preference share closed at $1.10 with trades of 866,369 units.
JSE climbs on Friday
Jamaica Stock Exchange faulty indices movement.
The latest error shows the indices falling sharply, much different from what the actual performance was on Friday. The report shows the indices above the closing levels on Thursday but the official market report shows that main market and composite indices fell by more than 1,200 points and the junior market rising only 7.21 points when the closing index on Thursday and Friday show a rise of 29.39 points.
The market closed on Friday with 24 securities changing hands with 2 trading in the US dollar market. In the main market, 12 stocks advanced and 8 declined.
Trading levels in main market ended at 7,683,386 units valued at $59,552,400 compared to 5,370,742 units valued at $94,687,874 at the close on Thursday. Trading in the US dollar market accounted for 6,499 units valued at US$1,825.
The All Jamaica Composite Index advanced 911.85 points to close at 244,424.85 the JSE Market Index gained 830.80 points to finish at 222,698.74 and the JSE US dollar market index lost 7.95 points to 210.21.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 4 with lower offers.The main market ended trading with an average of 282,723 units on Friday, compared to an average of 184,556 units on the previous trading day. The average volume for the month to date, ended at 248,740 units versus 214,756 units on the prior trading day. The average volume and value for February, ended at 223,938 units and $1,379,459.
In market activity, Barita Investments traded 28,170 shares at $6.90, Berger Paints advanced $2 to close at $15, trading 25,128 shares, Cable and Wireless closed at $1.34, adding 4 cents with trades of 1,975,825 shares, Caribbean Cement closed 20 cents higher to $32 with an exchange of 14,902 units. Carreras traded at $69.50 with 7,400 shares changing hands, Grace Kennedy closed $1.40 higher to $42.50 with trades of 4,978 units, Jamaica Broilers exchanged 538,378 shares at $16, Jamaica Producers traded 50 cents lower to $15.50 with 12,638 shares changing owners, Jamaica Stock Exchange closed at $7.30, for a loss of 66 cents with an exchange of 3,058,750 units. JMMB Group slid 48 cents, closing at $17.50 with trades of 532,746 units, Kingston Properties closed at $16.35, rising 15 cents in trading 20,976 shares, Kingston Wharves gained 20 cents to close at $31.20, with 6,693 units changing owners, Mayberry Investments added 10 cents, closing at $5.30 with an exchange of 5,000 shares, NCB Financial Group closed with gains of 99 cents to $61.99, after exchanging 31,659 shares,
138 student Living closed 10 cents lower to $4.50, with 199,483 units being exchanged, Pan Jamaican rose 19 cents higher to $34.25, trading 192,491 shares. Sagicor Group closed at $33.50 trading 60,520 shares, Sagicor Real Estate fund lost 20 cents to close at $10.55 with an exchange of 6,600 shares, Scotia Group added 15 cents to close at $38.35, with 23,403 units traded, Scotia Investments climbed $1.50 in trading 13,000 shares at $36, Seprod closed at $38.55, for a loss of 45 cents with trades of 10,500 shares, Supreme Ventures closed at $6.29, with 37,777 shares changing hands. Margaritaville Turks traded 7 US cents lower to close at 23 US cents with 1,875 units exchanged, Proven Investments gained 2 US cents to close at 29 US cents trading 5,499 ordinary shares and JMMB Group 7.5% preference share closed at $1.10 with trades of 866,369 units.
Stocks mostly rise in moderate trading
Trading in the main market of the Jamaica Stock Exchange closed Thursday with 23 securities changing hands and 1 trading in the US dollar market. In the main market, 12 stocks advanced and 7 declined in the main market.
Trading levels in main market ended at 5,370,742 units valued at $94,687,874 compared to 4,735,330 units valued at $232,334,549 at the close on Wednesday. Trading in the US dollar market accounted for 22,600 units valued at US$6,642.
The All Jamaica Composite Index advanced 207.42 points to close at 243,513.01 the JSE Market Index gained 188.98 points to finish at 221,867.93 and the JSE US dollar market index lost 4.47 points to end at 218.16.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 10 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 184,556 units on Thursday, compared to an average of 189,413 units on the previous trading day. The average volume and value for February, ended at 223,938 units and $1,379,459.
In market activity, Berger Paints closed at $13, with gains of 90 cents while trading 90,275 shares, Cable and Wireless closed at $1.30, adding 1 cent with trades of 211,079 units, Caribbean Cement closed 60 cents higher to $31.80 with an exchange of 9,127 units. Carreras dropped 51 cents to close at $69.50 trading 16,967 shares, Grace Kennedy closed $1.90 lower to $41.10 with 9,968 units, Jamaica Broilers gained 50 cents to close at $16, with an exchange of 31,624 shares, Jamaica Producers traded 76,500 shares at $16, Jamaica Stock Exchange closed at $7.96, with 39,382 units changing hands. JMMB Group gained 48 cents, closing at $17.98 with trades of 59,426 units, Kingston Wharves advanced $1 to $31, with 144,600 units changing owners, Mayberry Investments lost 5 cents and closed at $5.20 with an exchange of 1,867 shares, NCB Financial Group slipped $1 to $61, after exchanging 76,297 shares,
1834 Investments gained 10 cents, closing at $1.60 with 500 shares changing hands, Palace Amusement jumped $5 in closing at an all-time high of $200, with just 100 units being exchanged, Pan Jamaican dropped $2.94 to close at $34.06 trading 1,665,400 shares, Portland JSX closed 99 cents higher to $10.99 in exchanging 850 units, Pulse Investments traded 27,271 units at $8.50. Sagicor Group closed at $33.50 with gains of 2 cents trading 298,726 shares, Scotia Group added 10 cents to close at $38.20, with 42,312 units traded, Seprod closed at $39 with trades of 3,160 shares, Supreme Ventures closed 29 cents higher to $6.29, with 1,516,503 shares changing hands. Proven Investments lost 4 US cents to close at 27 US cents trading 22,600 ordinary shares, JMMB Group 7.25% preference share exchanged 1,000 units at $1.50, and JMMB Group 7.5% preference share closed at $1.10 with trades of 1,047,808 units.
Stocks continue wild swings Friday
Caribbean Cement stock price dived sharply on Friday.
Trading in the main market of the Jamaica Stock Exchange closed on Friday with stocks prices continuing to swing wildly as 22 securities changed hands the main market and 2 trading in the US dollar market. At the close, 7 stocks advanced and 11 declined in both markets.
Trading levels in main market ended at 13,300,572 units valued at $443,256,966 compared to 4,648,288 units valued at $125,237,837 at the close on Thursday. Trading in the US dollar market accounted for 8,744 units valued at US$2,692.
The All Jamaica Composite Index fell 1,975.38 points to close at 246,003.16 the JSE Market Index declined 1,766.34 points to finish at 224,136.77 and the JSE US dollar market index lost 0.83 points to close at 227.28.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 12 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 604,571 units on Friday, compared to an average of 248,178 units on the previous trading day. The average volume for the month to date ended at 416,933 units versus 229,294 units on the prior trading day. The average volume and value for February, ended at 223,938 units and $1,379,459.In market activity, Berger Paints closed lower at $11, losing $3.50 with trades of 91,830 shares, Cable and Wireless lost 4 cents to close at $1.35 with 273,290 shares changing hands, Caribbean Cement tumbled $4.79 to $31.20 trading 3,375 shares, Carreras traded 9,350 units at $68.60, Grace Kennedy advanced $1 to $43.50, with 18,936 units changing hands. Jamaica Broilers lost 30 cents to close at $14.20 with trades of 61,983 shares, Jamaica Producers closed $2.17 lower to $15.01, with an exchange 5,957,112 shares, Jamaica Stock Exchange closed at $8, with 179,123 units changing hands, JMMB Group gained 2 cents to close at $17.03 trading 110,362 units. Kingston Properties traded 500 shares at $16.35, Kingston Wharves closed $1 lower at $31 with 1,504 units changing owners,
NCB Financial Group closed at $63.02, but lost $1.88, after exchanging 4,114,559 shares, Pan Jamaican lost 10 cents to close at $35.90 trading 1,511,194 shares, Pulse Investments closed with a loss of $1.74 to $7.01 with 118,331 units exchanged, Radio Jamaica added 19 cents to close at $1.90, with 8,399 units traded. Sagicor Group closed with gains of 10 cents to $33.15 trading 283,210 shares, Sagicor Real Estate fund closed at $10.50 with trades of 9,981 units, Scotia Group fell to $38.61, losing 39 cents with 233,173 shares changing hands. Scotia Investments lost $1 to close at $35 trading 13,260 units, Sterling Investments closed at $16.75, with gains of 20 cents trading 1,000 shares, Supreme Ventures closed 47 cents higher to $6.37, with trades of 300,000 shares. Margaritaville Turks closed at 30 US cents with an exchange of 304 shares, Proven Investments traded 8,440 ordinary shares at 31 US cents and JMMB Group 7.5% preference share gained 11 cents to close at $1.20 trading 100 units.
Jamaica Broiler’s profit rises strongly
Jamaica Broiler’s profit from continuing operation climbed 25 percent to $721 million up from $579 million for the January quarter and rose just 4 percent to $1.55 billion compared to $1.49 billion for the nine months to January.
Sales of table eggs in Haiti, penetrated the market sharply for the group, with market share nearly doubling to 21 percent of the market up from 13 percent in 2015, the company reported in their latest fiscal quarterly, to January this year.
The strong growth in market share, helped profit in the Caribbean division to climb 161 percent from $115 million to $299 million from continuing operations, but profit in the Jamaican operations fell 20 percent to $1.9 billion while the US division recorded flat profits. Importantly, the Jamaican operations recorded an increase of 24 percent in segment results reversing the negative growth experience in the previous quarters. Gross profit margin for the year to date, fell slightly to 25.8 percent from 25.9 percent in 2016 but grew nicely in the January 2017 quarter, to 26.3 percent from 25.6 percent in the prior year. The improved margin enjoyed in the January quarter over the previous two quarters, translates to increased profit before tax of $200 million per year.
Earnings per share ended at 60 cents for the quarter and $1.29 for the nine months and should end up around $1.70 for the full year, from net profit of $2 billion. The 2018 fiscal profit is preliminarily forecasted by IC Insider at $2.
Revenue for the group climbed 12 percent, to $11.7 billion in the latest quarter, from $9.9 billion and $32 billion compared to $28 billion for the nine months to January.
Divisionally, revenues to third parties in the Caribbean division climbed 23 percent from $1.15 billion, the Jamaican operations rose 13 percent to $23.4 billion while the US division recorded an increase of 20 percent to $7.5 billion. Broilers produced positive cash flows of $2.4 billion in the nine months, but ended up with just $303 million more at the end of the period after a net inflows of loan proceeds, paying dividends and capital spend, as the group continues to expand.
The stock traded at $15 on Tuesday on the Jamaica Stock Exchange for a PE of 7.5 based on 2018 estimated earnings and is well below the market average of 12.6.
JSE stocks in partial recovery – Monday
Berger price closed at a 52 weeks’ high of $15.
Trading levels in main market ended at 2,432,176 units valued at $44,491,086 compared to 3,117,227 units valued at $95,348,879 at the close on Friday. Trading in the US dollar market accounted for 12,035 units valued at US$3,662 contributing to total trades between the two markets of $46,015,960.
The All Jamaica Composite Index advanced 2,331.84 points to close at 250,967.19 the JSE Market Index gained 2,085.08 points to finish at 228,783.81 and the JSE US dollar market index fell 6.38 points to close at 224.79.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the
Investor’s Choice bid-offer indicator reading shows 9 stocks with bids higher than their last selling prices and 6 with lower offers.In market activity, Barita Investments closed at $7 with trades of 900 units, Berger Paints gained $1 to close at 52 weeks high of $15 with an exchange of 11,900 shares, Cable and Wireless traded 549,079 shares at $1.40, Caribbean Cement closed higher at $36.75, after gaining 75 cents in trading 4,580 shares. Carreras traded at $72, with 3,556 units changing hands, Grace Kennedy closed lower at $41, losing 67 cents with trades of 165,139 units, Jamaica Broilers gained $2.32 to close at $16.50 with 243,848 units changing hands, Jamaica Producers declined $1.15, closing at $15.85 while trading 52,904 shares, Jamaica Stock Exchange closed at $7.70, losing 10 cents with an exchange of 198,265. JMMB Group closed $1.95 lower at $18 with 66,844 units changing hands, Kingston Properties traded 45 cents higher, closing at a 52 weeks’ high of $16 with trades of 879 shares, Kingston Wharves advanced $2.50 to $32.50 trading 4,150 units, Pan Jamaican declined $3 to close at $34, after exchanging 45,867 shares, Portland JSX traded 116 shares at $10.99,
Pulse Investments closed at a 52 weeks’ high of $10, with gains of $1.45 and 5,000 units changing hands, Radio Jamaica closed at $1.80, with 290,709 units traded. Sagicor Group closed at $35, with an exchange of 629,820 shares, Sagicor Real Estate fund gained 50 cents to close at $11 trading 63,566 units, Scotia Group closed $1.45 lower at $38.55 with 6,811 shares changing hands, Seprod closed at $40, with an exchange of 42,193 shares. Sterling Investments traded 5,172 shares at $18.20, Supreme Ventures closed at a 52 weeks’ high of $6.18, gaining 10 cents in trading 39,778 shares, Proven Investments lost 1 US cent to close at 31 US cents with trades of 12,035 ordinary shares and Jamaica Money Market Brokers 7.5% preference share closed at $2.05 with 1,100 units changing hands.
3 all-time highs for IC TOP 10 stocks
Berger closed at a new all-time high on Friday
The prices of several stocks listed on the Jamaica Stock Exchange underwent some sharp adjustments in the past week, and especially so on Friday, the day after government disclosed revenues measures for the 2018 fiscal year.
Nothing was disclosed to send negative signals to investors, apart from some slight increase in inflation to be caused by increased taxes on a number of items, which could be partially offset by the rise in the tax threshold for individual taxpayers. If any thing the budget sends a strong message that the next twelve months should be highly positive for investments in stocks and real estate with increased fiscal surplus that have to be generated to meet the 7 percent primary surplus, that will have some deflationary impact and lead to lower interest rates near term. While the tax on cigarettes may initially be considered negative for Carreras the increase will allow the company to garner increased revenues to cover the tax and help boost profits.
The TOP 10 junior and main market stocks saw only a few movements in and out during the past week. A number of the stocks in the list hit new highs during the week. The price of ISP Finance hit a new high of $11.50 as some supply came to the market. With limited supply and the potential for strong growth in profits the stock looks like a candidate for as split before too long. Berger Paints and Pulse Investments climbed sharply to new highs, with the former trading as high as $15 during the week but settled back at $14, up from $11.51 at the close of the previous week. Pulse Investments closed the week at $8.55 and could go higher based on the limited supply on offer at $10.
The markets continue to consolidate while awaiting early signals from 2017 first quarter results. With the TOP stocks valued well below the average of the markets’ PE ratio and at a large discount to the valuation based on 2016 earnings, around 20 times, the Top 10 stocks should continue to record gains once the bull market remains intact.
In the junior market, Dolphin Cove and Jetcon Corporation returns to the top list after exiting, at the close of the previous week and with the latter falling sharply in price to close at $11.03. The two replaced Lasco Manufacturing and AMG Packaging, two that entered in the past week. These stocks are still within striking distance for the top tier listing but market activity in the coming week could change all of that.
In the main market of the Jamaica Broilersreported strong gains in its third quarter profits and should encourage investors to bid the stock up, during the week and Berger Paints seems set to move out of the list by the close of the week and Caribbean Cream and Dolphin Cove could move out of the top list during the week.
Broiler’s Haitian profit jumps 161%
Jamaica Broilers
The growth helped profit in the Caribbean division to climb 161 percent from $115 million to $299 million. Net Profit from continuing operation climbed 25 percent to $721 million up from $579 million for the January quarter and rose by just 4 percent to $1.55 billion compared to $1.49 billion for the nine months to January. Earnings per share ended at 60 cents for the quarter and $1.29 for the nine months and should end up around $1.70 for the full year, from net profit of $2 billion with 2018 fiscal profit preliminarily forecasted by IC Insider to be $2.
Revenue for the group climbed 12 percent to $11.7 billion in the latest quarter from $9.9 billion and $32 billion compared to $28 billion for the nine months to January.
