Confidence Vote in Xfund & more

November 25, 2015 by

Hotel property owned by Sagicor Real Estate Fund

Hotel property owned by Sagicor Real Estate Fund

Insiders trading into shares of companies they are involved in can be an important indicator of likely future fortunes of the company. Of course not all such trades are equal but they may be strong clues. The Jamaica Stock Exchange has released reports on several insider trades recently.
Most recent reports show that a director of Sagicor Real Estate X Fund demonstrated strong faith in the future of the company, by purchasing 121,500 shares on November 20 at $9.90. The fund reported consolidated net profit attributable to stockholders of $1.04 billion for the nine months to September or 63 cents per share with net profit for the September quarter ending at $349 million or 17 cents per share. The quarterly results include capital gains on financial assets and liabilities of $279 million and $746 million for the year to date. The net asset at the end of September amounts to $6.83 with the selling at a premium of 46 percent above net assets.
Elsewhere, at Caribbean Flavours connected parties, purchased 212,000 units of the company’s shares on November 17 at $5, the stock last traded at $6.30 and should go higher with recent results showing growth in profits.
Insiders purchased NCB shares recently.

Insiders purchased NCB shares recently.

In the meantime, at National Commercial Bank a connected party purchased 34,295 units of NCBJ shares on November 18 and on November 17 a connected party purchased 1,000 units, that is considered undervalued at the last traded price of $37. On November 19 a director purchased 5,300 Eppley’s shares at $400 each.
Lasco Financial Services that is expanding into new areas, saw a connected party purchasing 393,189 shares between November 5 and 23. At Sagicor Group an Executive and two Officers collectively purchased 497,634 of the company’s shares under the Executive Long Term Incentive Scheme on November 16 and 17, but on November 18 an Executive sold 365,400 shares.
Not all insiders were buyers, as Kingston Wharves advised that connected parties sold 12,523 units of its shares on November 17 and 18, while at Mayberry Investments connected parties purchased 4,058,034 units of the company’s shares while a related party sold 3,500,000 units on November 17 and a connected party purchased 127,443 shares on November 18.
Caribbean Cream informed the stock exchange that a connected party sold 750,000 shares between October 28 to 30, while a related party purchased 2,895 shares on October 16.

Filed Under: Company News, Feature Stories, Insider Trades Tagged With: , , , , , , , ,

Stocks pull back on JSE – Tuesday

November 24, 2015 by

Scotia Investments fell $6.30 on Tuesday to $28.

The Jamaica Stock Exchange suffered moderate reversal in its fortune on Tuesday, reflect a temporary pull back on its bullish run as more stocks fell than rose. The market closed with activity in 38 securities, leading to a volume of 7,824,802 units valued at $43,455,309 changing hands, in all market segments.
A total of 10 securities rose and 16 declined with no stock ending at 52 weeks’ closing highs and 4 trading at intraday 52 weeks’ high. The JSE Market Index climbed 268.21 points to 140,539.79, the all Jamaica Composite Index fallen 299.74 points to end at 156,017.43 and the JSE combined index fell by 550.73 points to end at 146,820.35.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 16 stocks with bids higher than their last selling prices and 3 with lower offers.
JSE sum 24-11-15In trading, Barita Investments had 81,100 units changing hands at $4.05, for a 5 cents gain, Cable and Wireless closed with 1,556,426 units changing hands to close at $1.40, Caribbean Cement traded 373,682 shares changed hands at $16.50 with a gain of 40 cents, Carreras lost 98 to end at $59 with 15,413 units trading. Ciboney had 524,139 units trading, to close at 13 cents after hitting 15 cents earlier in the day, for an intraday 52 weeks’ high, Desnoes & Geddes ended with 31,699 shares trading at $30, Gleaner lost 15 cents in trading 394,044 shares at $1.85, Jamaica Broilers traded 124,540 shares with the price rising 69 cents to close at $8.19. Jamaica Producers fell 18 cents while trading 800 shares to end at $29.82, The Jamaica Stock Exchange had 13,157 shares changing hands with a loss of 29 cents, to end at $13.21, JMMB Group fell by 8 cents while trading 12,621 shares to close at $10.82. Kingston Wharves ended with 21,900 shares changing hands at $11.49, Mayberry Investments closed with 224,520 units trading for a rise of 80 cents and ended at $4.80, National Commercial Bank closed with a fall of 50 cents as 35,606 shares changed hands to end at $37.JSE Fn Qts 24-11-15 Pulse Investments traded 67,850 shares and ended at $3.65 after trading at an intraday 52 weeks’ high of $3.67, Sagicor Group traded 752,961 units at $17 at the close, Sagicor Real Estate Fund ended with 1,200 shares trading with a fall of 25 cents at $9.75. Scotia Group had 19,615 shares changing hands and closed with a gain of 50 cents, at $27, Scotia Investments dropped sharply by $6.30 to end at $28, with 9,540 shares changing hands, Seprod ended at $18.55 with 3,553 shares trading. Supreme Ventures ended at $4.89 after declining 6 cents with 37,706 shares changing hands and Jamaica Money Market Brokers 8.50% preference share traded 258,607 units with a loss of 6 cents to end at $3.49 but as traded at a 52 weeks’ intraday high of an $4.60.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , ,

Bulls still at large at JSE on Monday

November 23, 2015 by

Scotia Investments ended at a 52 weeks' high on Monday of $34.30.

Scotia Investments ended at a 52 weeks’ high on Monday of $34.30.

The main market Jamaica Stock Exchange continued to reflect the bullish run but with a relative large number of stocks falling, even as rising stocks had the upper hand on Monday. Only 5 of the declining stocks and all with gains, came from the main market.
The market closed with activity in 39 securities, leading to a subdued volume of 6,541,969 units valued at $26,641,867 changing hands, in all market segments. A total of 15 securities rose and 13 declined with 4 stocks ending at 52 weeks’ closing highs and an additional 2 trading at intraday 52 weeks’ high. The JSE Market Index climbed 1,059.99 points to 140,808.00, the all Jamaica Composite Index rose 1,184.60 points to end at 156,317.17 and the JSE combined index gained by 822.50 points to end at 147,371.08.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of only 12 stocks with bids higher than their last selling prices and one with a lower offer. In trading,Cable and Wireless closed with 1,550,252 units changing hands and lost 19 cents to close at $1.40, Caribbean Cement traded 43,041 shares changed hands at $16.10 with a loss of 40 cents, Carreras gained $2.98 to end at $59.98, with 2,031 units trading. JSE sum 23-11-15
Desnoes & Geddes ended with 32,700 shares trading at $30, Gleaner traded 50,000 shares at $2, Grace Kennedy traded 6,200 shares and closed with a gain of 10 cents at $75.10, Jamaica Broilers traded 62,175 shares to close at $7.50 after losing 99 cents. Jamaica Producers rose $3.50 while trading 19,074 shares to end at $30, The Jamaica Stock Exchange had 43,930 shares changing hands to end at $13.50, JMMB Group rose by 90 cent while trading 95,500 shares to close at $10.90. Kingston Wharves gained 24 cents and ended with 51,500 shares changing hands at $11.49, Mayberry Investments closed with 54,845 units trading for a loss of 40 cents and ended at $4, National Commercial Bank closed with a rise of 49 cents as 52,776 shares changed hands to end at $37.50. Pulse Investments traded 44,000 shares, at a new 52 weeks’ closing high of $3.65, the price rose 65 cents, Radio Jamaica declined by 20 cents with 34,895 shares trading and ended at $4.85.JSE Fn Qts 23-11-15 Sagicor Group rose 45 cents in trading 127,678 units at $17 at the close, Sagicor Real Estate Fund ended with 51,000 shares trading at $10. Scotia Group ended with 5,950 shares changing hands, closed with a gain of 19 cents to end at $26.50, Scotia Investments jumped sharply by $7.30 and ended at $34.30 with 50,182 shares changing hands, but traded as low as $28. Seprod rose 4 cents to $18.55 with 6,237 shares trading, Supreme Ventures ended at $4.95 after rising 20 cents with 93,445 shares changing hands, Jamaica Money Market Brokers 7.50% preference share traded 105,000 units at $2 and Jamaica Money Market Brokers 8.50% preference share traded 1,143,883 units with a gain of 6 cents to end at $3.55.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , ,

Indices fall across the board at JSE – Friday

November 20, 2015 by
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Kingsley Cooper Chairman of Pulse - the company's stock closed at a new 52 weeks' high of $3 on Friday.

Kingsley Cooper Chairman of Pulse – the company’s stock closed at a new 52 weeks’ high of $3 on Friday.

The Jamaica stock market continued its bullish run but with more stocks falling than rising on Friday. The market closed with activity in 41 securities, leading to 10,580,654 units valued at $91,422,843 changing hands, in all market segments. A total of 21 securities rose and 14 declined with 4 stocks ending at 52 weeks’ closing highs.
The JSE Market Index dropped 1,705.59 points to 139,748.01, the all Jamaica Composite Index dived 1,828.45 points to end at 155,132.57 and the JSE combined index declined by 1,636.11 points to end at 146,548.58.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of only 7 stocks with bids higher than their last selling prices and none with lower offers.
In trading, Barita Investments closed with 238,852 shares trading to at $4, Cable and Wireless closed with 1,644,431 shares changing hands and 4 cents to close at $1.59, after trading at a high for the day of $1,64, Caribbean Cement traded 79,075 shares JSE sum 20-11-15changed hands at $16.50 with a loss of $1, Carreras gained 95 cents to end at $57, with 21,592 units trading. Desnoes & Geddes ended with 113,325 shares trading at $30, Gleaner traded 58,166 shares at $1.90, Grace Kennedy traded 4,563 shares and closed with a gain of 50 cents at $75, Jamaica Broilers traded 241,910 shares to close at $8.49 and lost 26 cents. Jamaica Producers rose $1.76 while trading 75,712 shares at $26.50, The Jamaica Stock Exchange gained 25 cents in trading 17,835 shares, to end at $13.50, JMMB Group rose by 11 cent while trading 192,697 shares to close at $10. Kingston Wharves ended with 19,500 shares changing hands at $11.25, Mayberry Investments closed with 115,000 units trading for 5 cents higher at $4.40, National Commercial Bank closed with a fall of $1.94 as 1,365,817 shares changed hands to end at $37.01, Pan Jamaican Investments traded 12,955 shares at $88.25 for a loss of 5 cents, JSE Fn Qts 20-11-15Pulse traded 91,500 shares at a new 52 weeks’ closing high of $3 as the price gained 50 cents, after trading at $3.20. Sagicor Group lost 7 cents in trading 170,002 units at $16.55 at the close, Sagicor Real Estate Fund ended with 239,750 shares trading at $10. Scotia Group ended with 153,444 shares changing hands, closed with a fall of 89 cents to end at $26.31, Scotia Investments lost $1 and ended at $27 with 30,000 shares changing hands, Seprod rose 1 cent to $18.51 with 13,250 shares trading and Supreme Ventures ended at $4.75 after falling 2 cents with 35,500 shares.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , ,

JSE ends with 15 up & 19 down – Thursday

November 19, 2015 by

NCB ended at a new closing high

NCB ended at a new closing high

The Jamaica stock market continued its bullish run on Thursday but with more stocks falling than rising. The market closed with activity in 41 securities, leading to 10,580,654 units valued at $130,174,516 changing hands, in all market segments. A total of 15 securities rose and 19 declined with 4 stocks ending at 52 weeks’ closing highs.
The JSE Market Index climbed 1,131.62 points to 141,384.12, the all Jamaica Composite Index rose 1,264.65 points to end at 156,961.02 and the JSE combined index gained by 862.81 points to end at 148,254.17.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 19 stocks with bids higher than their last selling prices and 5 with lower offers.
JSE sum 19-11-15In trading, Barita Investments closed with a loss of 50 cents with 30,000 shares trading to at $4, Cable and Wireless closed with 3,901,081 shares changing hands and declined 11 cents to close at $1.55, after trading at a high for the day of $1,80, Carreras lost 95 cents to end at $56.05, with 6,412 units trading. Ciboney traded 150,077 shares changed hands at 13 cents, Desnoes & Geddes ended with 415,690 shares trading at $30, Grace Kennedy traded 30,840 shares and closed with a fall of 5 cents at $74.50, Jamaica Broilers traded 146,769 shares to close at $8.75. Jamaica Producers rose $2.23 while trading 15,000 shares at $24.74, The Jamaica Stock Exchange lost 25 cents in trading 27,035 shares, to end at $13.25, JMMB Group lost 1 cent while trading 20,300 shares to close at $9.89. Kingston Wharves ended with 120,385 shares changing hands at $11.20 after falling 27 cents, Mayberry Investments closed with 251,020 units trading for 65 cents lower at $4.35, JSE Fn Qts 19-11-15National Commercial Bank closed with a rise of $1.95 cents as 17,842 shares changed hands to end at $38.95 for a new closing 52 weeks’ high. Sagicor Group lost 3 cents in trading 509,550 units at $16.62 at the close. Scotia Group ended with 83,180 shares changing hands, closed with a rise of 15 cents to end at $27.20. Scotia Investments gained 50 cents and ended at $28 with 500 shares changing hands, Seprod rose 70 cents to $18.50 with 1,200 shares trading, Supreme Ventures ended at $4.77 after falling 23 cents with 9,555 shares changing hands and 3 million units of Proven Investments changed hands at 22.9 US cents.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , ,

JSE closes with 23 gains 12 losses – Wednesday

November 18, 2015 by

Barita Investments closed at a new 52 weeks' high of $4.50 on Wednesday

Barita Investments closed at a new 52 weeks’ high of $4.50 on Wednesday

The Jamaica stock market continued its bullish run but with more stocks rising than declining on Wednesday. The market closed with activity in 40 securities, leading to 241,658,997 units valued at $3,865,297,144 changing hands, in all market segments. A total of 23 securities rose and 12 declined with 8 stocks ending at 52 weeks’ closing highs and 1 at intraday highs.
The JSE Market Index climbed 560.43 points to 140,252.50, the all Jamaica Composite Index rose 626.31 points to end at 155,696.37 and the JSE combined index gained by 966.06 points to end at 147,391.36.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 12 stocks with bids higher than their last selling prices and 8 with lower offers.
In trading, Cable and Wireless closed with 3,256,680 shares changing hands and declined 14 cents to close at $1.66, after trading at an intraday 52 weeks’ high of $2, Carreras gained 94 cents to end at $57, with 314,980 units trading.JSE sum 18-11-15 Ciboney traded with a rise of 1 cent as 125,450 shares changed hands at 52 weeks’ high of 13 cents, the stock ended with a bid to buy 2,264,000 shares at 12 cents. Desnoes & Geddes ended with 11,938 shares trading at $30.01, Grace Kennedy traded 381,400 shares and closed with rise of 54 cents at $74.55, Jamaica Broilers traded 1,565,200 shares to close at $8.75 with a loss of 5 cents. Jamaica Producers lost $1.50 while trading 1,156,535 shares at $22.51, the Jamaica Stock Exchange gained $1.50 in trading 5,245 shares, to end at $13.50, JMMB Group gained $1.39 while trading 700 shares to close at $9.90. Mayberry Investments closed with 188,769 units trading at $5, National Commercial Bank closed with a rise of 44 cents as 95,706 shares changed hands to end at $37, Pan Jamaican Investments closed at $88.30 after trading 408,462 shares to gain 3 cents. Pulse Investments traded 11,150 shares with a rise of 50 cents, to close at 52 weeks’ high of $2.50.JSE Fn Qts 18-11-15
Radio Jamaica traded at $5 after 34,144 shares changed hands, Sagicor Group gained 8 cents in trading 1,511,190 units at $16.65 at the close. Sagicor Real Estate Fund had 1,043,832 shares changing hands with a loss of 49 cents at $9.81, Scotia Group ended with 206,750 shares changing hands, closed with a rise of 72 cents to end at $27.05. Scotia Investments gained 48 cents and ended at $27.50 with 17,000 shares changing hands, Seprod rose $1.85 to $17.80 with 363,796 shares trading and Supreme Ventures ended at $5 after gaining 25 cents with 21,176 shares changing hands.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , ,

JSE main market closes at new high

November 17, 2015 by

Cable & Wireless HQ - The company's stock traded at a high of $1.87 on Tuesday

Cable & Wireless HQ – The company’s stock traded at a high of $1.87 on Tuesday

The Jamaica stock market continued its bullish run but with slightly more stocks rising than declining. The market closed with activity in 39 securities, leading to 12,548,183 units valued at $127,385,981 changing hands, in all market segments.
A total of 18 securities rose and 16 declined with 6 stocks ending at 52 weeks’ closing high and 2 at intraday high.
The JSE Market Index climbed 1,390.00 points to 139,692.07 the all Jamaica Composite Index gained 1,553.41 points to end at 155,070.06 and the JSE combined index rose by 1,236.54 points to end at 146,425.30.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 11 stocks with bids higher than their last selling prices and one with a lower offer.
In trading, Cable and Wireless closed with 2,128,091 shares changing hands, after rising 40 cents to close at a 52 weeks’ high of $1.80 but after trading at $1.86, JSE sum 17-11-15Carreras fell 94 cents to end at $56.06 with 86,869 units trading, Ciboney traded 31,000 shares at 12 cents and ended with a bid to buy 2,263,800 shares at 12 cents. Desnoes & Geddes ended with 63,357 shares trading at $30.02, Gleaner Company traded at 391,191 shares and gained 1 cent to end at $1.92, Grace Kennedy traded 767,772 shares and closed with loss of 29 cents at $74.01, Jamaica Broilers traded 147,050 shares to close at $8.80 with a gain of 1 cent. Jamaica Producers lost 99 cents while trading 4,924 shares at $24.01, The Jamaica Stock Exchange lost $1.50 in trading 75,600 shares, to end at $12, JMMB Group lost $1.39 while trading 198,116 shares to close at $8.51. Mayberry Investments gained 70 cents and closed with 4,310,131 units trading to close at a 52 weeks’ high of $5, but with only 200 shares trading at $5, and 1,020 at $4.65 with the rest all trading below $4.50. National Commercial Bank closed with a rise of 56 cents as 218,184 shares changing hands to end at $36.56, after trading at an intraday high of $38. JSE Fn Qts 17-11-15Pan Jamaican Investment closed at $88.27 after trading 43,522 shares to gain 4 cents, Pulse Investments traded 108,658 shares with a rise of 20 cents to close at $2, Radio Jamaica traded at $5 after 26,867 shares changed hands, Sagicor Group gained 14 cents in trading 271,321 units at $16.57 at the close. Scotia Group ended with 105,854 shares changing hands, closed with a fall of 17 cents at $26.33, Scotia Investments lost 48 cents and ended at $27.02 with 17,800 shares changing hands, Seprod rose 2 cents to $15.95 with 24,855 shares trading and Supreme Ventures ended at $4.75 after losing 5 cents with 65,893 shares changing hands.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , ,

JSE main market slips on Monday

November 16, 2015 by

S VL closed at a new high on Monday.

S VL closed at a new high on Monday.

The Jamaica stock market started the week with moderate losses in the indices on Monday but investors continue to respond positively to the release of company results that have generally been very took some profit with more stocks falling than rising.
The market closed with activity in 41 securities, leading to 9,839,984 units valued at $50,044,573 changing hands, in all market segments. A total of 15 securities rose and 12 declined with 4 stocks ending at 52 weeks’ closing high and 2 at intraday high.
The JSE Market Index fell 140.31 points to 138,302.07 the all Jamaica Composite Index declined 156.81 points to end at 153,516.65 and the JSE combined index eased by 20.44 points to end at 145,188.76.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 9 stocks with bids higher than their last selling prices and 2 with lower offers.
JSE sum 16-11-15 In trading, Barita Investments closed with a gain of 15 cents to $3.80 with 1,000 shares trading, Cable and Wireless close with 1,304,419 shares changing hands to close at $1.40 after rising to $1.49 in early trading. With the company’s parent having announced today that it has agreed to accept an offer from Liberty Global for the shares of CWC Plc interest could well build again in the local stock. Carreras rose $1 to end at $57 with 17,200 units trading, Ciboney gained 2 cents in closing at a 52 weeks’ high of 12 cents, Desnoes & Geddes ended with 269,196 shares trading at $30.02, Gleaner Company traded at 562,609 shares and gained 1 cent to end at $1.91. Jamaica Broilers traded 12,290 shares to close at $8.79 with a gain of 4 cents, JMMB Group lost 90 cents while trading 1,028,832 shares to close at $9.90. Mayberry Investments lost 4 cents and closed with 369,000 units trading with a loss of 5 cents at $4.30, National Commercial Bank close with 118,880 shares changing hands to end with a rise of $1 at $36 after trading at an intraday high of $37. JSE Fn Qts 16-11-15Pulse Investments traded 229,058 shares with a decline of 20 cents for a close of $1.80, Sagicor Group lost 2 cents in trading 482,103 units at $16.43 at the close, Scotia Group ended with 8,029 shares changing hands, closed with a rise of 39 cents at $26.50. Supreme Ventures ended at a 52 weeks’ high $4.80 after adding 15 cents with 47,709 shares changing hands and Proven Investments ordinary share gained 2 US cents and ended at 23 US cents with 18,934 units changing hands. Jamaica Money Market Brokers 7.50% preference share traded 220,500 units at $2, Jamaica Money Market Brokers 8.50% preference share traded 1,313,000 units and ended at $3.49 with a gain of 4 cents.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , ,

Eppley’s stock scarce & undervalued

November 15, 2015 by

Eppley’s profit after tax increased 5 percent for the first nine months of the year to $41.7 million compared to $39.7 million in 2014. For the September quarter, profit jumped sharply by 91 percent to $19.3 million versus $10 million in 2014.
eppleyEarnings per share of $52.47 was achieved for the nine months and $24.17 for the quarter. A dividend of $9 per share will be paid on November 30 to ordinary shareholders on record at November 20.
Revenues grew 93 percent for the quarter to $63 million and 60 percent for the nine months period, to $171 million. Net interest income increased from 39.56 percent in the nine months to 43.9 percent in the quarter. Operating expenses climbed 16 percent for the quarter and 15 percent for the nine months.
As of September, Eppley had a $1.38 billion portfolio consisting mainly of loans, leases and receivables. The average income yield of the portfolio was 14 percent, the company stated.
Equity capital at the end of the quarter stood at $341 million and borrowing at $1 billion with average cost of debt being 10 percent. We ended the quarter with $237 million of cash and short-term investments, the company also stated.
Eppley provides loan and insurance premium financing. At the end of the quarter, the stock that is listed on the junior market of the Jamaica Stock Exchange last traded at $380 much lower than the net asset value was $429 per share.

Filed Under: Buy Rated, Company News, Company Results Tagged With: , ,

Revenue growth pushes down C&W loss

November 15, 2015 by

Cable & Wireless HQ

Cable & Wireless HQ

Subscribers and revenues are up in double-digits at Cable & Wireless Jamaica which contributed to reduced operating loss of $346 million, or 58 percent better than the outcome in the similar quarter in 2014 before exceptional expenses of $139 million.
The company posted losses of $485 million after exceptional expenses in the September quarter, or 11 percent less than the $548 million loss for the six months in 2014.
EBITDA earnings grew to $1.2 billion compared to $971 million a year ago and for the half year $2.58 billion versus $1.78 billion, an increase of 45 percent.
“Each line of business showed improved results leading to growth in total revenues and EBITDA. Our mobile business was again the leading performer with our pre-paid subscriber base growing by 23 percent and our post-paid subscriber base growing by 6 percent when compared to the prior year first half,” stated Garfield Sinclair who heads C&WJ, in the financial report.
During the quarter, revenues grew 9 percent to $5.63 billion. This growth was filliped by mobile subscriber base and revenues up 22 percent and 16 percent respectively; and broadband subscribers and revenue up 8 percent and 11 percent respectively. Revenues for the half year grew 10 percent to $11 billion as revenues for the September quarter exceeded that of the June quarter by $179 million or 3.3 percent.
Interest cost declined in the quarter to $934 million from $1 billion last year and should fall in the coming quarters as the interest rates reset downwards in November, to 7.2 percent from 7.787 percent with the fall in local Treasury bill rates. For the half-year interest cost amounts $2 billion. Staff costs are down by $300 million in the six months period from that of 2014 to be at $1.246 billion but out payments and direct cost rose $226 million with the September quarter by $149 million over the June quarter.
The company generated operating cash flow of $520 million compared with negative cash flows of $133 million in six months to September 2014.
The financials does not show any indication of a merger between the local operations of Flow and C&W but the latter wrote large amounts of assets and made staff redundant but no mention is made in the report as to how the two entities will be operating going forward. There are questions to be answered here.
The company’s shares are listed on the Jamaica Stock Exchange last traded at $1.45.

Filed Under: Buy Rated, Company News, Company Results Tagged With: , , , ,