Transjamaican heads JSE trading – Thursday


Winning stocks beat losers at the close of trading on the Jamaica Stock Exchange on Thursday, with prices of 42 shares climbing, 36 declining and 33 remaining firm, resulting in the Main Market and the Junior Market indices rising and the JSE USD Market falling. Trading ended with a huge rise in the volume of stocks exchanged, at more than twice the value passing through the market on Wednesday, as nearly 77 million US dollar shares of Transjamaican Highway crossed the market.

At the end of trading, the JSE Combined Market Index rallied 2,156.24 points to 331,718.90, the All Jamaican Composite Index rose by 1,881.59 points to close at 369,284.68, the JSE Main Index rallied 2,174.51 points to settle at 320,959.73, as the Junior Market Index increased by 10.94 points to 3,464.37 and the JSE USD Market Index dropped 5.29 points to finish at 208.42.
At the close of trading, 94,410,862 shares were exchanged in all three markets, up from just 9,136,240 units on Wednesday, with the value of stocks traded on the Junior and Main markets amounted to $107.96 million, up from $42.64 million on the previous day and the JSE USD market closed with an exchange of 76,914,195 shares for US$1,740,363 compared to 371,175 units at US$159,855 on Wednesday.
In Main Market activity, Wigton Energy led with 4.67 million shares, followed by Jamaica Producers with 2.91 million stock units and Transjamaican Highway with 1.92 million units.
In Junior Market trading, Jamaican Teas led with 818,154 shares, followed by RA Williams with 510,000 stocks and MFS Capital Partners with 455,069 units.
In the preference segment, 138 Student Living preference share rose $20.37 to $224 and Sygnus Credit Investments 10% gained $2.10 to close at $103.
The market’s PE ratio, a popular measure used to value stocks, ended at 13.8 based on 2024-25 earnings and 16.2 based on 2024 earnings. The ICInsider.com PE ratio chart and the other, more detailed daily charts provide investors with regularly updated information to help decision-making. The PE ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange, which are grouped by industry for easy comparisons within a sector and the overall market. The earnings per share (EPS) and PE ratios are based on 2024 and 2025 actual or projected earnings, excluding any major one time income or expense.
Pertinent information is required to navigate numerous investment options successfully in the stock market. The chart should be used in making rational decisions when investing in stocks close to the sector average, not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock. The net asset value of each company is incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.

JSE Main Market retreats on Wednesday

Investors pulled back from trading on the Jamaica Stock Exchange Main Market on Wednesday, resulting in the volume and value of stocks traded falling 17 percent and 27 percent, respectively. Transjamaican Highway ended with trading of 44 percent of the total volume, following trading activities in 59 securities compared with 62 on Tuesday, with prices of 21 securities rising, 26 declining, and 12 ending unchanged.

The market closed with 5,441,255 shares trading, worth $36,679,194, slipping from 6,582,118 stock units at $50,375,973 on Tuesday.
Trading averaged 92,225 shares at $621,681, declining from 106,163 stocks at $812,516 on Tuesday and month to date, an average of 121,254 stock units at $770,279 compared with 135,066 shares at $840,982 on the previous day and May with an average of 245,284 stock units at $2,050,773.
Transjamaican Highway led trading with 2.40 million shares for 44.1 percent of total volume. followed by Sagicor Select Financial Fund with 987,752 units for 18.2 percent of the day’s trade and Wigton Energy with 499,603 stocks for 9.2 percent of the volume traded.
The All Jamaican Composite Index fell 2,981.22 points to close at 367,403.09, the JSE Main Index dropped 1,594.90 points to 318,785.22 and the JSE Financial Index fell 0.13 points to 66.38. At the close, the Investor’s Choice bid-offer indicator shows 19 stocks ending with bids higher than their last selling prices and two with lower offers.
The Main Market ended trading with an average PE Ratio of 13.6. The JSE Main and the USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with financial year ending around August 2025.
At the close of the trading, AS Bryden increased 94 cents and ended at $25 in an exchange of 40 shares, Barita Investments lost 92 cents to finish at $70 with investors trading 1,609 stock units, Caribbean Cement fell $2 to end at $81 as traders exchanged 5,771 shares. Jamaica Broilers sank 70 cents in closing at $26.30, with 20,901 units being traded, Margaritaville dipped $2.98 to close at $10.52 with an exchange of 59 stocks, Mayberry Jamaican Equities climbed 95 cents to finish at $11.05 with 5,000 units clearing the market. NCB Financial sank $1.80 to $41.19 with traders dealing in 295,909 shares, Pan Jamaica popped 40 cents to end at $51 with 9,929 stock units crossing the exchange, Proven Investments skidded 98 cents in closing at $17.21 after a transfer of 516 stocks. Seprod dropped $1.50 to close at $83.50, after trading of 9,446 units and Supreme Ventures advanced 49 cents to finish at $19.50 after an exchange of 2,525 stocks.

In the preference segment, 138 Student Living preference share shed $35.98 and ended at $204, with a transfer of 5 shares and Sygnus Credit Investments 10% declined $2.10 to $100.90, with investors swapping 100 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

More skids for the JSE Junior Market


The Junior Market stocks closed mostly in negative territory on the Jamaica Stock Exchange on Wednesday, following activity in 38 securities down from 41 on Tuesday and ending with prices of just 10 rising, 20 declining and eight closing unchanged, with the volume of stocks traded dropping 86 percent with 63 percent lower value than Tuesday, with the market slipping for a third day since the close of May.

The market closed with trading of 3,323,810 shares with a value of a mere $5,956,247, dropping steeply from 23,396,014 stock units at $16,266,034 on Tuesday.
Trading averaged 87,469 shares at $156,743 compared with 570,634 stocks with a value of $396,733 on Tuesday. Trading for the month to date, averaged 252,119 units at $272,424, from 326,604 stock units at $324,755 on the previous day, down from May with an average of 419,466 shares at $701,563.
Lasco Financial led trading with 1.11 million shares accounting for 33.5 percent of the total volume, followed by Spur Tree Spices, with 419,289 units for 12.6 percent of the day’s trade and Kintyre Holdings with 373,159 stocks for 11.2 percent of the volume traded.
At the close of trading, the Junior Market Index lost 21.41 points to end at 3,453.43. The Investor’s Choice bid-offer indicator shows seven stocks ending with bids higher than their last selling prices and five with lower offers.
The Junior Market ended trading with an average PE Ratio of 14.1, based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years ending around August 2025.
At the close of the market, Access Financial popped 26 cents to end at $15.29 as investors exchanged 3,321 shares, Caribbean Flavours lost 25 cents in closing at $1.39 with a transfer of 81 units, Consolidated Bakeries declined by 5 cents to end at $1.45 after an exchange of 2,209 stocks. Dolphin Cove shedded 34 cents to end at $14.51 after closing with an exchange of 13,344 shares, Express Catering advanced by 6 cents to finish trading at $2.72 after a transfer of 8,425 stock units, Fontana sank 5 cents to close at $9 with 8,915 shares clearing the market. Honey Bun skidded 13 cents to $7.96 in an exchange of 9,772 units, Image Plus fell 6 cents to finish at $1 with traders dealing in 7,511 stocks, ISP Finance dropped $3.55 to $11.40 in an exchange of 9,323 stock units. Jetcon Corporation rose 9 cents to end at $1.09 with a mere 173 shares passing through the market, Knutsford Express gained 50 cents in closing at $13.50 with an exchange of 160 stocks, Main Event sank 27 cents to close at $9.70 with 1,050 units crossing the market. MFS Capital Partners climbed 5 cents to 55 cents after trading 771 stock units, ONE on ONE Educational dropped 10 cents to finish at 87 cents as 11,000 shares crossed the exchange, RA Williams increased 7 cents and ended at 54 cents with investors dealing in 12,000 stocks. Regency Petroleum dipped 37 cents in closing at $3.56 after an exchange of 10,267 units and Stationery and Office Supplies rallied 5 cents to close at $1.48 with investors trading 304,949 stock units.

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

JSE Markets pull back


Trading closed Wednesday on the Jamaica Stock Exchange with a fall in the volume and value of stocks exchanged, compared to Tuesday, resulting in the Main and Junior Market indices declining as the JSE USD Market climbed. At the end of trading, prices of 36 shares rose, 47 declined and 22 remained firm.

At the close of the market, the JSE Combined Market Index sank 1,678.91 points to conclude trading at 329,562.66, the All Jamaican Composite Index slipped 2,981.22 points to settle at 367,403.09, the JSE Main Index dropped 1,594.90 points to 318,785.22, the Junior Market Index skidded 21.41 points to end at 3,453.43 and the JSE USD Market Index popped 4.12 points to finish at 213.71.
At the close of trading, 9,136,240 shares were exchanged in all three markets, down from 30,530,666 units on Tuesday, with the value of stocks traded on the Junior and Main markets falling to $42.64 million, from $66.64 million on the previous day and the JSE USD market closed with an exchange of 371,175 shares for US$159,855 compared to 552,534 units at US$66,374 on Tuesday.
In Main Market activity, Transjamaican Highway led trading with 2.40 million shares, followed by Sagicor Select Financial Fund with 987,752 stocks and Wigton Energy with 499,603 units.
In Junior Market trading, Lasco Financial led with 1.11 million shares, with the price hitting a 52 week low, followed by Spur Tree Spices with 419,289 stocks and Kintyre Holdings with 373,159 units.
In the preference segment, 138 Student Living preference share fell $35.98 to finish at $204 and Sygnus Credit Investments 10% fell $2.10 to $101.
The market’s PE ratio, the most popular measure used to value stocks, ended at 13.7 based on 2024-25 earnings and 16.1 based on 2024 earnings.
The ICInsider.com PE ratio chart and the other, more detailed daily charts that provide investors with regularly updated information to help decision-making. The PE ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons within a sector and the overall market. The earnings per share (EPS) and PE ratios are based on 2024 and 2025 actual or projected earnings, excluding any major one time income or expense.
Pertinent information is required to navigate numerous investment options successfully in the stock market. The chart should be used in making rational decisions when investing in stocks close to the sector average, not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals, while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock. The net asset value of each company is incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.

JSE USD index closes higher


The Jamaica Stock Exchange US dollar market climbed just under two percent on Wednesday, with Transjamaican Highway leading the market in volume traded following a 33 percent drop in quantity of shares being traded, valued 141 percent more than on Tuesday resulting from an exchange of eight securities, down from 10 on Tuesday with prices of five rising, one declining and two ending unchanged.

The market closed with an exchange of 371,175 shares for US$159,855, dropping from 552,534 stocks at US$66,374 on Tuesday.
Trading ended with an average of 46,397 shares at US$19,982, falling from 55,253 stocks at US$6,637 on Tuesday, with a month to date average of 80,901 units at US$9,490 compared with 95,429 stocks at US$5,073 on the previous day and May that ended with an average of 71,616 units for US$3,425.
The US Denominated Equities Index popped 4.13 points to settle at 214.37. The Investor’s Choice bid-offer indicator shows no stock ended with a bid higher than the last selling price and one with a lower offer.
The PE Ratio, one of the most frequently used measures to determine appropriate stock values, averages 10.3. The PE ratio is calculated based on last traded prices divided by projected earnings, computed by ICInsider.com for companies with financial year ending around August 2025.
At the close of trading, First Rock Real Estate USD share advanced 0.28 of a cent to end at 1.68 US cents in trading 21,832 shares, Proven Investments popped 0.5 of one cent to 11.5 US cents as traders exchanged 2,015 stock units, Sterling Investments remained at 1.83 US cents with investors trading 12,637 shares. Sygnus Credit Investments gained 0.33 of a cent and ended at 7.33 US cents with brokers executing transfer of 2,323 units, Sygnus Real Estate Finance USD share ended at 6.6 US cents in trading 900 stocks and Transjamaican Highway rose 0.05 of one cent in closing at 2.35 US cents with a transfer of 178,283 shares.

In the preference segment, JMMB Group US8.5% declined 10 cents to US$1.00 with 153,183 units changing hands and Sygnus Credit Investments US 8% rallied 1 cent to end at US$9.01 with a transfer of 2 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Big retreat for JSE Main Market stocks


Stocks had a big retreat in prices at the close of the Jamaica Stock Exchange Main Market Indices, dropping on Tuesday, following trading in 62 securities, the same as on Monday, and ended with prices of just 15 rising, being swamped by 34 declining and 13 ending left unchanged. Trading volume fell 35 percent, with the value 7 percent lower than on Monday.

Only 6,582,118 shares were traded with a value of $50,375,973, a fall from 10,166,077 stock units at $53,905,822 on Monday.
Trading averaged 106,163 shares at $812,516, down from 163,969 stocks at $869,449 on Monday and for the month to date, an average of 135,066 stock units at $840,982 compared with May, with an average of 245,284 stock units at $2,050,773.
Transjamaican Highway led trading with 2.79 million shares for 42.4 percent of total volume, followed by JMMB Group 7.35% – 2028, which ended with 1.15 million units for 17.5 percent of the day’s trade and Wigton Energy with 532,578 stock units for 8.1 percent of the volume traded.
The All Jamaican Composite Index dropped 4,253.80 points to 370,384.31, the JSE Main Index sank 4,099.91 points to close trading at 320,380.12 and the JSE Financial Index fell 0.73 points to end at 66.51. At the close, the Investor’s Choice bid-offer indicator shows 12 stocks ending with bids higher than their last selling prices and three with lower offers.
The Main Market ended trading with an average PE Ratio of 13.6. The JSE Main and the USD Market PE ratios are based on last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
At the close of the market, AS Bryden dropped $5.88 in closing at $24.06 after traders exchanged 335 shares, Caribbean Cement shed $2 to close at $83 with investors dealing in 1,554 stock units, Eppley Caribbean Property Fund rallied 80 cents to end at $36 with 226 shares being traded. Jamaica Broilers sank $1 to $27 with trading of 112,886 stock units, Jamaica Producers shed $2.90 to finish at $22.10 with 102,005 units clearing the market, JMMB Group sank $1.81 and ended at $20.18 with investors trading 126,554 stocks. Kingston Wharves declined 85 cents to $32 after a transfer of 37,738 units, Margaritaville lost 59 cents and ended at $13.50 as investors traded 318 shares, Massy Holdings popped 50 cents to finish at $77.50 with 1,010 stock units crossing the market. Mayberry Jamaican Equities skidded 95 cents to close at $10.10 with traders dealing in 45,285 shares, MPC Caribbean Clean Energy fell 48 cents to end at $64.52 with brokers switching ownership of 4 stock units, 138 Student Living slipped 45 cents in closing at $3.25 with 2,248 stocks crossing the market. Pan Jamaica fell $2.20 to $50.60 with an exchange of 1,058 units, Seprod skidded $3.66 to close at $85 with 1,037 stocks changing hands, Stanley Motta lost 47 cents in closing at $6.28 in trading 309 shares. Supreme Ventures shed 53 cents to end at $19.01 after an exchange of 156,424 stock units and Sygnus Real Estate Finance sank 69 cents to finish at $8.31 after closing with an exchange of 941 units.
In the preference segment, Eppley 7.25% declined 59 cents and ended at $19.40 with investors trading 2,562 stocks. Jamaica Public Service 7% climbed $2.96 to $44.37 in an exchange of 17 shares, Jamaica Public Service 9.5% sank $1 to finish at $2,689 with traders passing 101 stock units through the market, 138 Student Living preference share surged $69.97 and ended at $239.98 with a transfer of 32 units and Sygnus Credit Investments C10.5% advanced $2 to close at $100.50 as investors exchanged 78 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Mixed JSE USD Market trading on Tuesday


Trading ended with mixed results on the Jamaica Stock Exchange US dollar market on Tuesday, resulting in exchange of 10 securities, compared to nine on Monday with prices of only one rising, seven declining and two ending unchanged, following a 56 percent decline in the volume of stocks traded, having a 121 percent greater value than on Monday.
The market closed with an exchange of 552,534 shares for US$66,374 compared to 1,260,621 stocks at US$30,005 on Monday. Trading averaged 55,253 shares at US$6,637 compared to 140,069 stocks at US$3,334 on Monday, with a month to date average of 95,429 units at US$5,073 compared with May, with an average of 71,616 units for US$3,425. The US Denominated Equities Index declined 3.62 points to conclude trading at 210.24. The Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and one with a lower offer. The PE Ratio, one of the most frequently used measures to determine appropriate stock values, averages 10.1. The PE ratio is calculated based on last traded prices divided by projected earnings, computed by ICInsider.com for companies with financial year ending around August 2025. At the close of the moderate trading, First Rock Real Estate USD share sank 0.49 of one cent to close at a 52 week low of 1.4 US cents with 3,266 shares passing through the market, Margaritaville dropped 0.7 of a cent to 7.5 US cents with investors trading 3,000 units, Productive Business Solutions shed 5 cents in closing at US$1.20 with 50 stocks clearing the market. Proven Investments lost 0.91 of a cent to finish at 11 US cents with investors swapping 208,990 shares, Sterling Investments dipped 0.14 of a cent and ended at 1.83 US cents with a transfer of 5,291 stock units, Sygnus Credit Investments remained at 7 US cents after traders exchanged 5,637 shares. Sygnus Real Estate Finance USD share sank 0.4 of a cent in closing at 6.6 US cents with 500 stocks changing hands and Transjamaican Highway ended at 2.3 US cents after investors swapped 308,237 units. In the preference segment, JMMB Group 7.5% skidded 5 cents and ended at US$2.01 with 17,544 stock units crossing the market and Sygnus Credit Investments US 8% rallied 15.99 cents to finish at US$10 after the trading of 19 shares. Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

MFS Capital tops Junior Market


Trading surged on Tuesday on the Jamaica Stock Exchange Junior Market after trading in shares of MFS Capital Partners jumped sharply, accounting for 86 percent of the overall volume for the day, resulting in the market Index declining by 29.32 points to close at 3,474.84. Market activity also resulted in a 479 percent jump in the volume of stocks traded, at a 48 percent higher value than on Monday. Trading ended in 41 securities compared with 43 on Monday, with prices of 11 stocks advancing, 15 declining and 15 closing unchanged.

The market closed with trading of 23,396,014 shares for $16,266,034, increasing steeply from 4,038,688 units at $11,013,414 on Monday.
Trading averaged 570,634 shares at $396,733, increasing from 93,923 stocks at $256,126 on Monday, with trading for the month to date, ending with an average of 326,604 units at $324,755 compared to May with an average of 419,466 shares at $701,563.
MFS Capital Partners led trading with 20.03 million shares for 85.6 percent of total volume, followed by Fosrich, with 500,447 units for 2.1 percent of the day’s trade and Everything Fresh with 438,095 stock units for 1.9 percent of the volume traded.
At the close of trading, the Investor’s Choice bid-offer indicator shows eight stocks ending with bids higher than their last selling prices and one with a lower offer.
The Junior Market ended trading with an average PE Ratio of 14.3, based on last traded prices in conjunction with earnings projected by ICInsider.com for financial years ending around August 2025.
At the close of the market, Access Financial dropped $1.98 to end at $15.03 with 2,001 shares crossing the market, Dolphin Cove rose 85 cents to $14.85 after a transfer of 24,324 stocks, Express Catering sank 9 cents to finish at $2.66 after closing with an exchange of 10,000 shares. Fontana rose 5 cents and ended at $9.05, with 20,426 units clearing the market, Future Energy dipped 5 cents in closing at $3.05 after an exchange of 91,089 stock units, Indies Pharma fell 28 cents to end at $3.64 with investors dealing in 33,255 shares. ISP Finance jumped $3.45 to $14.95 with a transfer of a mere 168 stocks, JFP increased 7 cents and ended at 54 cents as investors exchanged 51,900 units, Knutsford Express declined 99 cents to end at $13 with traders passing 1,316 stock units through the market. Mailpac Group lost 6 cents in closing at $2.59 in an exchange of 84,636 shares, Main Event skidded $1.28 to finish at $9.97 trading of 30 stocks, Omni Industries slipped 5 cents to close at 80 cents with 79,822 units switching owners and One Great Studio popped 5 cents to 46 cents with investors swapping 108,484 stock units.

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

Trading rises, prices drop on JSE Markets


All three Jamaica Stock Exchange markets fell in trading on Tuesday, following a rise in the volume and the value of stocks exchanged, compared to trading on Monday, resulting from trading of MFS Partners’ 20 million share, with the market closing with prices of 56 stocks declining, 27 shares rising and 30 remaining firm.

At the close of the market, the JSE Combined Market Index dropped 4,128.67 points to end at 331,241.57, the All Jamaican Composite Index dived 4,253.80 points to finish at 370,384.31, the JSE Main Index sank 4,099.91 points to 320,380.12, the Junior Market Index shed 29.32 points to 3,474.84 and the JSE USD Market Index slipped 3.61 points to wrap up trading at 209.59.
At the close, 30,530,666 shares were traded in all three markets, up from 15,465,386 stock units on Monday, with the value of stocks traded on the Junior and Main markets amounted to $66.64 million, up from $64.92 million on the previous day and the JSE USD market closed with an exchange of 552,534 shares for US$66,374 compared to 1,260,621 units at US$30,005 on Monday.
In Main Market activity, Transjamaican Highway led with 2.79 million shares, followed by JMMB Group 7.35% – 2028 with 1.15 million stock units and Wigton Energy with 532,578 units.
In Junior Market trading, MFS Capital Partners led with 20.03 million shares, followed by Fosrich with 500,447 stocks and Everything Fresh with 438,095 units.
In the preference segment, Jamaica Public Service 7% climbed $2.96 to close at $44, 138 Student Living preference share popped $69.97 to $240 and Sygnus Credit Investments C10.5% gained $2 in closing at $101.
The market’s PE ratio, the most popular measure used to value stocks, ended at 13.9 based on 2024-25 earnings and at 16.3 based on 2024 earnings.
The ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated data to help decision-making. The PE ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons within a sector and the overall market. The earnings per share (EPS) and PE ratios are based on 2024 and 2025 actual or projected earnings, excluding any major one time income or expense.
Pertinent information is required to navigate numerous investment options successfully in the stock market. The chart should be used in making rational decisions when investing in stocks close to the sector average, not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals, while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock. The net asset value of each company is incorporated into the chart. Investors can use this measure in assessing stock values. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends that are paid or are due to be paid and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume of the highest bid and the lowest offer for each company.

Jamaica Broilers shareholders clobbered


Jamaica Broilers released a damning report in March this year of management’s stewardship in its January third quarter Results. The directors “advised that it had identified several issues related to expense management and operational controls in its U.S. Operations and had engaged external advisors in the United States to review operational control and any implications it had for the financial performance of the U.S. Operations.”

Christopher Levy – Jamaica Broilers President and Chief Executive.

The group is now updating investors on the latest information. “Having received preliminary and not yet finalised reports from its external advisors, and having assessed the financial performance of the U.S. Operations, the Company wishes to disclose the following material information, which it believes could have significant implications for the financial statements of the Company, namely unsubstantiated accounting valuation methodologies affecting several financial statement line items, including Inventories and Biological Assets.”

“The issues identified appear to constitute material prior period errors and will, once determined and finalised, be fully corrected following the conclusion of the annual financial audit for the Company. As a result of the likely restatement of inventories and biological assets, we anticipate a material negative impact on the historical profitability of our U.S. operations and the Group’s consolidated retained earnings and capital.”
The Company wishes, however, to assure its shareholders and stakeholders that the Board and Senior Management of the Company have been, and are taking steps, in conjunction with its legal and financial advisors, to address the above referenced issues related to the expense management, operational management and financial performance of the U.S. Operations, with a focus on accurate reporting on the profitability of the U.S. Operations and for the Company.

The problem at Jamaica Broilers is a big black eye on the Jamaican securities industry. There are far too many issues in the sector in need of urgent attention, as investors are being severely abused. Those in a position to act and correct the problems have turned a blind eye, until there is a big blow up like Usain Bolt losing his money. What about companies that have billion-dollar loans made to the related companies, interest free while minority shareholders pay the cost of funding them. What about investment firms that breach agreements with their customers and get away with it while the FSC sits and watches.