Pan Jamaican jumps $22 – Thursday

May 12, 2016 by

Pan Jam closed at a 52 weeks' high of $120 on Thursday.

Pan Jam closed at a 52 weeks’ high of $120 on Thursday.

Pan Jamaican jumps $22 to a 52 weeks’ high of $120 against the back ground of low level of trading on the Jamaica Stock Exchange in the main market on Thursday, but the indices that slipped close to 1000 points in the first hour of trading recovered to suffer a mild declined at the end.
The market closed with 39 securities changed hands, accounting for 3,962,072 units valued at $115,119,749, in all market segments. The junior market accounted for 446,394 units of the shares traded, valued at $1,996,471. Investors pushed the price of 7 stocks in the overall market up, 15 were pushed down including 3 stocks rising and 6 declining, from the junior market.
JSE Sum-12-5-16The JSE Market Index rose 438.46 points to end at 151,786.63. The all Jamaica Composite Index gained 490.37 points to close at 168,584.66 and the JSE combined index rose 410.50 points, to close at 163,122.18.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 13 stocks with bids higher than their last selling prices and 5 with lower offers.
At the end of market activities, Barita Investments traded 15,493 units for 1 cent higher at $3.45, Berger Paints traded 21,849 shares to rise 11 cents and closed at $4.25, Cable & Wireless gained 9 cents and closed at $1.49 after trading 1,349,000 units, Caribbean Cement traded 29,960 shares as the price dropped $1 to close at $25. Carreras traded 2,459 shares but fell 50 cents, to $63, the price for 1834 Investments remained at $1.02 after 65,877 shares were traded, Grace Kennedy fell $1 and closed at $84 with 1,021,582 shares changing hands, Jamaica Broilers ended at $14.55 while trading 6,600 shares with a gain of 5 cents. JMMB Group fell 35 cents in trading 5,477 shares to close at $9.50. JSE MM fn qts 12-5-16National Commercial Bank fell 10 cents while trading 35,302 shares, to close at $39.75. Pan Jamaican Investment jumped $22, to a 52 weeks’ high of $120, with 3,120 shares changing hands, in response to the company announced a 5 for 1 stock split. Radio Jamaica traded 45,331 shares to end at $1.10. Sagicor Group ended with 45.000 shares changing hands and lost 40 cents to end at $22.50, Scotia Group closed at $31 while 272,996 units changed hands, Seprod traded 24,301 shares to close at $17, Supreme Ventures closed at $5.26 with 15,887 shares changing hands after losing 23 cents and Proven Investments traded 554,302 shares at 17.02 US cents.

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

JSE first quarter results jump

May 12, 2016 by

JSE frnt 2Jamaica Stock Exchange reported a 44 percent jump in the first quarter profit to $126 million, from $87 million in 2015 for the three months ending March. The growth in profit flowed from revenues of $327 million, a 29 percent increase over the $253 million in 2015. The increase this year comes against the background that the quarter in 2015 results came from a loss position of $2.3 million.
Earnings per share ended at 89 cents in 2016 versus 62 cents in 2015. Profit before tax, grew from $130 million in 2015 to $187 million, with tax taking $61 million in the 2016 first quarter from $43 million.
Revenues growth benefited from increased trading activities this year over 2015, new business from the handling of repo business and from a big trade in the shares of Desnoes and Geddes, in 2015 there was a large trade in the shares of Scotia Group.
Expenses climbed at a slower pace than income, with an increase of 16 percent to end at $150 million. Wages climbed from $46 million to $57 million due to salary increases and additional staffing. Advertising and amortization is up from $14 million to $20.7 million, while other operating cost rose by $10.6 million from $5 million.
At the end of the quarter, cash and equivalent stood at $589 million and equity capital climbed to $751 million up from $649 million at the end of March 2015.
JSE’s stock traded on the Jamaica Stock Exchange with the price closing at $21 on Thursday.

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

Grace Kennedy’s blow out quarter

May 12, 2016 by
Grace Kennedy profit for Q1 jumped 153%

Grace Kennedy profit for Q1 jumped 153%

Grace Kennedy reported a 153 percent jump in it results for the first quarter ending March with profit after tax of $1.5 billion versus $589 million in 2015. Grace reports that $606 million of the increase came from disposal of investment, with the bulk of it coming from the liquidation of a subsidiary.
Earnings per share ended at $4.51 compared to $1.78 in 2015 and the full year’s earnings looking to exceed $13 per share.
Grace reported sales revenues of $22 billion up from $19.36 billion in 2015, with profit from operations doubling to $1 billion, while other income amounted to $991 million up from $316 million in 2015.

Group Chief Executive Officer, Don Wehby steering the Grace ship to safer waters.

Group Chief Executive Officer, Don Wehby steering the Grace ship to safer waters.

The food and trading division enjoyed the most growth, moving from $398 million to $855 million, the banking and investing segment recorded lower profits of $29 million than the $89 million in the 2015 period, while the money transfer segment, continues to deliver attractive increases of 26.5 percent, with profit of $587 versus $464 million and the Insurance division went up 48 percent from $67 million to $99 million.
The company attributed the strong increase in the food and trading division to “improved performance of our food distribution and manufacturing business in Jamaica and internationally.”
Grace’s stock has come in for increased demand on the Jamaica Stock exchange over the last few trading days, with the price closing at $84 on Thursday with 1,021,582 units traded.

Filed Under: Breaking News, Buy Rated, Company News, Company Results, Feature Stories Tagged With: , ,

JSE reverses large early losses – Wednesday

May 11, 2016 by
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JSE frnt 2 Volumes traded were moderate in trading on the Jamaica Stock Exchange in the main market on Wednesday, but the indices that slipped close to 1,000 points in the first hour of trading recovered to suffer a mild declined at the end.
The market closed with 39 securities changed hands, accounting for 3,600,852 units valued at $56,805,624, in all market segments. The junior market accounted for 952,289 units of the shares traded, valued at $5,433,865. Investors pushed the price of 16 stocks in the overall market up, 12 were pushed down including 9 stocks rising and 5 declining, from the junior market.
The JSE Market Index fell 152.90 points to end at 151,348.17. JSE Sum-11-5-16The all Jamaica Composite Index slipped 171.01 points to close at 168,094.29 and the JSE combined index declined 61.78 points, to close at 162,711.68.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 13 stocks with bids higher than their last selling prices and 5 with lower offers.
At the end of market activities, Berger Paints traded 40,000 shares to rise 11 cents and closed at $4.25, Cable & Wireless gained 1 cent and closed at $1.40 after trading 495,304 units, Caribbean Cement traded 77,185 shares as the price dropped $1.99 to close at $26, Carreras traded 373,051 shares but fell by 50 cents, to $63.50. Grace Kennedy gained $1 and closed at $85 with 108,960 shares changing hands, Jamaica Broilers ended at $14.50 while trading 167,381 shares, JMMB Group fell 15 cents in trading 1,081,028 shares to close at $9.85, Mayberry Investments fell 5 cents in trading 16,093 shares at $4.20, National Commercial Bank gained 5 cents while trading 3,740 shares, to close at $39.85. Pan Jamaican Investment did not trade but the bid moved up to $99, a dollar above the last selling price, after the company announced a 5 for 1 stock split, Radio Jamaica traded 154,400 shares to end at $1.10. JSE MM fn qts 11-5-16Sagicor Group ended with 22,092 shares changing hands and lost 10 cents to end at $22.90, Sagicor Real Estate Fund traded 1,500 shares to close at $10 after declining by 10 cents, Salada Foods traded 6,000 shares to end at $8.80 after trading at an intraday low of $7.50. Scotia Group closed at $31 while 6,144 units changed hands, Scotia Investments jumped $1.44 and ended trading 37,876 shares to close at $27.44, Seprod fell $1 to close at $17 with 1,500 units changing hands and Supreme Ventures closed at $5.49 with 27,617 shares changing hands.

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

Pan Jam’s 5 for 1 split

May 11, 2016 by

pan_jamaican_logo280x150IC Insider.com long standing BUY RATED stock, Pan-Jamaican Investment Trust (PJAM) may now be set to come into its own with an announced 5 for 1 stock split approved by the board in February, with the Jamaica Stock Exchange being informed more than 2 months after they should have been.
The stock last traded on the Jamaica Stock Exchange at $98, but based on its earnings of $15.19, the price should be much higher. The stock price has struggled for some time to achieve the valuation that most other stocks in the main market have attained, since the start 2015. As one of the highest priced stocks on the Jamaican market, investors have been looking elsewhere, to invest their money, leaving the stock attractively priced and undervalued.
Various investors in the past, have been saying that the company needed to split the stock to make it more attractive for investors. Management felt otherwise, saying that a split would make it appear to be a penny stock, in the eyes of overseas investors.
It seems like the decision of both Jamaican Teas and the Lasco group to split and the impact that the spilt has had on the prices of these stocks may have convinced the Pan Jam directors to take the plunge.
The company in a release to the Stock Exchange today, advised that the following resolution was recommended by the Board of Directors at its meeting held on February 29, 2016: “Special Resolution- Resolution for the Sub-Division of Shares – “That each of the 250,000,000 ordinary shares in the capital of the company be subdivided in 5 ordinary shares each thereby making a total share capital of 1,250,000,000 ordinary shares of no par value at the existing total stated capital of 2,141,985,000 with effect from the close of business on May 31, 2016”.
The resolution is subject to approval at the Annual General Meeting scheduled for Thursday, May 26, 2016.
Interestingly, the Jamaica Stock Exchange rule states that a company is required to give notice to the Exchange of at least a week in advance, the date of the Board meeting at which the declaration or recommendation of a dividend, bonus issue or rights issue will be considered. Question did Pan Jamaican comply?

Filed Under: Breaking News, Company News, General Business News Tagged With: , ,

JSE majors down nearly 1,000 points

May 11, 2016 by

Trading after 75 minutes in the early morning session on the Jamaica Stock Exchange, on Wednesday, saw the main market shedding ground, with the all Jamaica Composite Index falling almost 991.84 points after an hours and 20 minutes of trading, but recovered to lose 555 points shortly after. At the same time the junior market just inched up.
ICI int sht 11-05-16Stocks traded more than 100,000 units are, Jamaica Broilers with 428,004 shares, Cable & Wireless with 185,438 units, Lasco Distributors with 191,873 units at $7.65, tTech had 113,861 units changing hands up $4.50, Radio Jamaica had 102,300 units trading at $1.10.
Caribbean Cement fell back by $1.99 with 62,758 shares at $26 and Honey Bun traded at a new high of $19.55 with 10,000 shares having changed hands.
Trading resulted in activity in 28 securities, accounting for 910,214 shares changing hands as 8 stocks gained and 10 declined. The average number of shares traded is 32,508 compared to an average of 70,975 units on Tuesday.
The market saw the all Jamaica Composite Index dropped 555.06 points to 167,710.24, the JSE Market Index fell 496.30 points to 151,004.77, the JSE combined index ended with a fall of 458.55 points to 162,314.91 and the junior market index gained just 0.18 points to 2,168.33.

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

JSE reverses most of early losses – Tuesday

May 10, 2016 by

Carib Cement jumped $1.99 to close at $27.99 on Tuesday.

Carib Cement jumped $1.99 to close at $27.99 on Tuesday.

Volumes climbed sharply on the Jamaica Stock Exchange in the main market on Tuesday, with a number of individual stocks having large trades, a feature that was absent from the market for weeks. Market activity in the early morning session, saw the main market indices down close to 1,000 points, by the close, most of the losses were wiped out.
The market closed with 37 securities changed hands, accounting for 5,791,740 units valued at $159,776,122, in all market segments. The junior market accounted for 1,364,688 units of the shares traded, valued at $9,672,342. Investors pushed the price of 18 stocks in the overall market up, 7 were pushed down including 7 stocks rising and 3 declining, from the junior market.
The JSE Market Index fell 42.46 points to end at 151,501.07. The all Jamaica Composite Index slipped 47.48 points to close at 168,265.30 and the JSE combined index rose 75.85 points, to close at 162,773.46.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 13 stocks with bids higher than their last selling prices and 5 with lower offers.
JSE Sum-10-5-16At the end of market activities, Berger Paints traded 99,158 shares to rise 14 cents and closed at $4.14, Cable & Wireless closed at $1.39 after trading 154,987 units, Caribbean Cement traded 154,987 shares as the price jumped $1.99 to close at $27.99, Ciboney traded 418,270 shares at 13 cents after gaining 1 cent. Grace Kennedy closed at $84 with 945,030 shares changing hands, Jamaica Broilers lost 5 cents to end at $14.50 while trading 428,112 shares, JMMB Group rose 50 cents in trading 20,044 shares to close at $10, Kingston Wharves traded 95,600 shares, to close at $11.65. Margaritaville Turks fell 0.50 US cent in trading 402,850 shares at 16.50 US cents, National Commercial Bank gained 3 cents while trading 990,580 shares to close at $39.80, Pan Jamaican Investment jumped $1 with 12,640 shares trading at $98,JSE MM fn qts 10-5-16 Radio Jamaica traded 15,327 shares to end at $1.10. Sagicor Group ended with 41,056 shares changing hands with a gain of 31 cents to end at $22.30, Sagicor Real Estate Fund traded 131,542 shares to close at $10.10 after rising 10 cents, Scotia Group rose 50 cents to close at $31 while 8,841 units changed hands. Scotia Investments ended trading 19,695 shares to close at $26, Seprod Fell $1 to close at $16 with 13,284 units changing hands, Supreme Ventures gained 22 cents and closed at $5.49 with 6,693 shares changing hands, Proven Investments ordinary share traded 431,660 units at 17.05 US cents, down from 19 US cents.

Filed Under: Company News Tagged With: , , , , , , , , , , , , , , , , , , , , , ,

JSE majors down juniors up

May 10, 2016 by

Trading in the early morning session on the Jamaica Stock Exchange, on Tuesday saw the main market being active with stocks trading for 16 minutes before trading took place in the junior market. Trading resulted in the main market indices dropping and the junior market enjoying a moderate bounce.
ICI int sht 10-05-16Three stocks traded more than 100,000 units with Jamaica Broilers with 428,004 shares, Cable & Wireless Jamaica 118,112 units, Ciboney traded 418,270 units at 13 cents, Margaritaville Turks with 301,350 units, Proven Investments had 299,182 units changing hands but the price slipped to 17.05 US cents.
After 75 minutes of trading, on Tuesday, the average volume traded amounts to 70,975 units per active stock, compared to an average of 22,162 units in the mid-morning session on Monday.
Trading resulted in activity in 25 securities, accounting for 1,774,364 shares changing hands as 9 stocks gained and 6 declined.
The market saw the all Jamaica Composite Index dropped 986.08 points to 167,326.70, the JSE Market Index fell 881.71 points to 150,661.82, the JSE combined index ended with a fall of 676.76 points to 162,020.85 and the junior market index bounced 13.76 points to 2,170.67.

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

Strong JPS financial performance

May 10, 2016 by

JPSJamaica’s main power generator, Jamaica Public Service Company, delivered improved results for its shareholders for 2015. The company reported US$26.5 Million in profit and US$30.7 Million total Comprehensive income for the full year to December. The result was an improvement over the $23 Million and $7.5 Million recorded respectively in 2014.
The improvement was due to a combination of factors, including growth in energy sales, improved generation efficiency and lower than expected finance costs.
The Company earned operating revenues of US$760 million for the year, a decline of $263 million or 26 percent than in 2014, due primarily to the 46 percent decrease in fuel costs recovered from customers, offset by a 2 percent increase in energy sales. JPS states that the increased energy sales, 1.9 percent above the 2014, reversed a three year trend of declining sales. “The increase was attributed to warmer weather, lower fuel costs and increased consumer confidence. As a result, the non-fuel revenues were approximately $7M or 1.7 percent above budget.”
The company also stated that it recorded the best thermal plant fleet Heat Rate ever: which also better than the target set. Operating expenses of $200 million incurred in the current year compares to $191 million in 2014. Excluding depreciation and amortisation expenses, the increase flowed from $5 million increase in other operating expenses which moved from $137 million while depreciation and amortisation expenses increased to $58 million as opposed to $54 million in 2014.
Net finance costs decreased by $13 million or 23% from $55 million in 2014 to $42 million in 2015 mainly as a result of a reduction in net losses suffered on foreign currency transactions and balances. Cash inflows from operating activities improved from $106 million in 2014 to $119 million in 2015. The improved inflows from operating activities were offset by increases in the cash outflows from investing and financing activities. Cash outflows from financing activities increased marginally from $64 million in 2014 to $65 million in 2015. Cash outflows from financing activities increased from $36 million in 2014 to $57million in 2015. At the end the cash position saw net cash & cash equivalents decreasing from $8 million in 2014 to $6 million.
JPS has preference shares listed on the Jamaica Stock Exchange but no ordinary shares.

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

JSE drops 2,100 points on Monday

May 9, 2016 by

Scotia Group dropped $2.49 on Monday

Scotia Group dropped $2.49 on Monday

The Jamaica Stock Exchange racked up big losses in the main market indices on Monday, with more stocks declining than rising leading the all Jamaica Composite Index falling over 2,000 points. A total of 37 securities changed hands, accounting for 6,444,590 units valued at $33,637,429, in all market segments. The junior market accounted for 1,306,308 units of the shares traded, valued at $6,667,614.
At the close of trading, 12 stocks in the overall market gained, 15 declined including 5 stocks rising and 5 declining, from the junior market.
The JSE Market Index dropped 1,890.26 points to end at 151,543.53. The all Jamaica Composite Index dived 2,114.01 points to close at 168,312.78 and the JSE combined index fell 1,649.69 points, to close at 164,347.30.
JSE Sum-09-5-16 IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 13 stocks with bids higher than their last selling prices and 7 with lower offers.
At the end of market activities, Cable & Wireless closed at $1.39 after while trading 65,950 units, Caribbean Cement traded 55,688 shares as the price fell 49 cents to close at $26, Carreras gained 50 cents while trading 19,576 shares, to close at $64. Grace Kennedy rose 50 cents to $84 with 7,042 shares changing hands. Jamaica Stock Exchange rose 45 cents to end at $21 while trading 108,346 shares, JMMB Group lost 50 cents in trading 16,326 shares to close at $9.50, Kingston Wharves traded 7,400 shares and gained 15 cents, to close at $11.65, Margaritaville Turks rose 1 US cent in trading 46,700 shares at 17 US cents. National Commercial Bank fell 23 cents while trading 27,361 shares to close at $39.77, JSE MM fn qts 09-5-16Pan Jamaican Investment jumped $3 with 36,922 shares trading at $97, Radio Jamaica traded 366,763 shares and dropped 9 cents, to end at $1.10, Sagicor Group ended with 16,250 shares changing hands with a loss of 31 cents at $22.69. Scotia Group dropped $2.49 to close at $30.50 while 16,127 units changed hands, Scotia Investments ended trading 1,000 shares and gained 80 cents to close at $26, Supreme Ventures fell 8 cents and closed at $5.27 with 15,698 shares changing hands, Proven Investments ordinary share traded 113,178 units at 19 US cents, down from 20 US cents. JMMB 6% US preference share lost 5 cents in trading 50,000 units at US$1.05, JMMB Group 7.5% preference share traded 3,612,600 units at $1.05 and Jamaica Money Market Brokers 7.50% preference share traded 533,800 units at $2.15.

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