The Junior Market slipped 8.33 points to close at 2,958.45 on Thursday as declining stocks beat advancing almost by a 2 to 1 ratio as the number of companies trading fell from Wednesday’s level.
At the close of market activities, 17 securities changed hands, the prices of 5 advanced, 9 declined and 3 remained unchanged, compared 21 securities changing hands on Wednesday.
Trading ended with an exchange of 2,627,003 units valued at $9,951,186 compared with 1,622,159 units valued at $6,560,444.
Market activity ended with an average of 154,530 units for an average of $585,364 compared to an average of 77,246 units for an average of $312,402 on Wednesday. The average volume and value for the month to date, amounts to 246,012 units at $1,064,766 compared to 283,041 units at $1,258,810 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 5 stocks ending with the bid higher than the last selling price and 6 with lower offers.
At the close of the market, AMG Packaging ended with a loss of 15 cents at $2, trading 449,644 shares, Caribbean Flavours traded 4 cents higher at $11, with 8,288 stock units, Caribbean Producers finished trading at $5, with a mere 203 units, Consolidated Bakeries closed with a loss of 2 cents at $2, with 23,902 shares, Elite Diagnostic settled 1 cent higher at $3.31, with 238,216 units. 
Eppley ended trading 13,000 shares and rose 10 cents to $9.60, Express Catering lost 10 cents at $5.25, with 291,235 shares trading, General Accident closed with a loss of 5 cents at $2.95, exchanging 22,000 stock units, GWest Corporation ended with a loss of 1 cent at $3.09, exchanging 35,475 units. Honey Bun concluded trading after falling 5 cents to $4.65, with 6,000 shares, Jamaican Teas ended trading at $5.30, with 25,000 stock units, Jetcon Corporation traded 10 cents higher at $4.15, with 81,862 units, Key Insurance finished trading with a loss of 65 cents at $4, after 501,651 shares changed hands. Lasco Distributors lost 5 cents to end at $4, with 853,641 stock units, Lasco Financial finished 70 cents higher at $5.70, with 24,256 units, Lasco Manufacturing settled with a loss of 1 cent at $3.99, with 52,230 shares and Medical Disposables traded at $5, with just 400 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Light trading on JSE main market – Wednesday
Jamaica Stock Exchange main market stocks had a light on Wednesday with trading of just 2,989,332 units, valued at a mere $34,924,721 as 24 securities changed hands, with 12 rising, 7 falling and 6 trading firm.
The main market closed with the JSE All Jamaican Composite Index falling by 421.16 points to 324,188.17 and the JSE Index declined 383.73 points to 295,372.07.
In market activity, Berger Paints jumped 60 cents to end at $17.10, with 10,199 stock units trading, Carreras finished 20 cents higher at $10.90, with 298,389 shares, Caribbean Cement climbed $2.50 to $38.50, with 3,401 shares, Grace Kennedy traded with a loss of 50 cents at $48.50, with 62,851 stock units, Jamaica Broilers finished trading at $20.50, with 15,756 units. 
Jamaica Producers closed 53 cents higher at $15.65, with 53,028 shares, Jamaica Stock Exchange ended at $6.95, with 36,598 shares changing hands, JMMB Group concluded trading at $26.50 after rising 90 cents, with 14,840 shares, Kingston Wharves settled at $40, with 3,626 units. Mayberry Investments ended trading with a loss of 37 cents at $6.05, with 54,300 shares, NCB Financial Group traded with a rise of $1.76 to end at $99.25, after exchanging 148,413 shares, Palace Amusement closed at $1,100, with 286 stock units, PanJam Investment ended 35 cents higher at $43, with 31,067 units. Radio Jamaica settled with a loss of 5 cents at $1.04, with 138,578 shares, Sagicor Group climbed $2.85 to $39, with 23,975 stock units, Sagicor Real Estate Fund ended trading with a loss of 19 cents at $15.30, 
with 180,332 shares changing hands, Scotia Group finished trading with a loss of $2.99 to $51, with 104,447 shares, Seprod closed after rising $1 to $34, with 6,118 shares. Supreme Ventures concluded trading and gained 20 cents to end at $11.90, with 98,103 stock units, Victoria Mutual Investments finished with 771,188 units trading and rose 35 cents to $4.40, Wisynco Group settled with a loss of 11 cents at $10.39, with 286,528 shares. In the main market preference segment, JMMB Group 7.5% closed with a loss of 2 cents at $1, with 250 shares, Proven Investments ended trading 1 cent higher at $5.90, with 200 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE majors’ late pull back on Wednesday.”
JSE majors’ late pull back on Wednesday
The Jamaica Stock Exchange main market enjoyed gains for most of the trading session on Wednesday, but pulled back later in the day, to record losses at the close with only 25 securities traded versus 29 on Tuesday.
At the end of trading, the JSE All Jamaican Composite Index shed 421.16 points to 324,188.17 and the JSE Index declined by 383.73 points to 295,372.07.
Trading resulted in the prices of 12 stocks rising, 7 falling and 6 trading firm, in the main and US dollar markets.
Securities closing with sizable price changes include, Caribbean Cement with a rise of $2.50 to $38.50, JMMB Group rising 90 cents to $26.50, NCB Financial Group trading $1.76 to $99.25, Sagicor Group jumped $2.85 higher to $39, Scotia Group finished with a loss of $2.99 to $51 and Seprod closing $1 higher at $34.
Main market activity ended with 2,346,923 units valued at $42,062,008 changing hands compared to 2,989,332 units valued at $34,924,721 on Tuesday. Victoria Mutual Investments with 771,188 units that accounted or 32.86 percent of the overall market volume and Carreras with 298,389 units and 12.7 percent of total volume traded.
Trading resulted in an average of 97,788 shares valued at $1,752,584, for each security traded, compared to 110,716 shares valued at $1,293,508 on Tuesday. The average for the month to date is 2,887,284 shares with a value of $2,486,402. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Wednesday with 510,900 units valued at over $102,180 as Proven Investments was the only stock trading in the sector, closing unchanged at 20 US cents and leaving the market index unchanged at 161.45 points.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 2 with a lower offers.
For more details of market activities see – Light trading on JSE main market – Wednesday
Gains for Junior Market on Wednesday
The Junior Market gained 10.84 points to close at 2,966.78 on Wednesday, as advancing stocks were just edged out by declining ones.
At the close of market activities, 21 securities changed hands, the prices of 6 advanced, 5 declined and 10 remained unchanged, compared 25 securities changing hands on Tuesday.
Trading ended with an exchange of 1,622,159 units valued at $6,560,444, compared with 10,265,565 units valued at $46,309,587.
Market activity ended with an average of 77,246 units for an average of $312,402 compared to an average of 488,836 units for an average of $2,205,218 on Tuesday. The average volume and value for the month to date, amounts to 283,041 units at $1,258,810. 
March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 6 stocks ending with the bid higher than the last selling price and 4 with lower offers.
At the close of the market, AMG Packaging ended 15 cents higher at $2.15, with 250,166 stock units traded, Cargo Handlers rose by 3 cents to $10.03, with 670 shares, Caribbean Cream ended trading at $6, with 1,000 shares, Caribbean Producers finished trading at $5, with 1,850 units changing hands, Elite Diagnostic settled 5 cents higher at $3.30, with 77,645 units. Express Catering traded 5 cents higher at $5.35, with 20,586 shares, FosRich Group finished trading at $2.50, with 9,733 shares, GWest Corporation ended with a loss of 10 cents at $3.10, with 12,000 units, 
Honey Bun concluded trading with a rise of 5 cents to $4.70, with 650 shares. ISP Finance settled at $15, with 2,000 shares, Jamaican Teas ended trading 52 cents higher at $5.30, with 100,000 stock units, Jetcon Corporation traded at $4.05, with 15,000 units, Key Insurance finished trading at $4.65, with 892 shares. Knutsford Express ended with a loss of 40 cents at $14, trading 1,567 shares, Lasco Distributors concluded trading at $4.05, with 793,017 stock units, Lasco Financial finished at $5, with 255,508 units, Lasco Manufacturing settled with a loss of 12 cents at $4, with 6,550 shares. Medical Disposables traded at $5, with 5,917 shares, Paramount Trading finished trading with a loss of 1 cent at $3.08, with 13,960 stock units, Stationery and Office closed with a loss of 2 cents at $5.50, with 9,158 units and tTech concluded trading at $5.97, with 44,290 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Slippage for Junior Market – Tuesday
Honey Bun traded over 9.4m units.
The Junior Market slipped on Tuesday by 2.57 points to close at 2,955.94 as advancing stocks were just edged out by declining ones.
At the close of market activities, 21 securities changing hands, the prices of 5 securities advanced, 6 declined and 6 remained unchanged, compared 25 securities changing hands on Thursday.
Trading ended with an exchange of 10,265,565 units valued at $46,309,587, compared with 1,499,141 units valued at $6,471,380.
Market activity ended with an average of 488,836 units for an average of $2,205,218 compared to an average of 59,966 units for an average of $258,855 on Thursday. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 6 stocks ending with the bid higher than the last selling price and 4 with lower offers.
At the close of the market, AMG Packaging ended with a loss of 17 cents at $2, with 162,028 stock units, Cargo Handlers settled at $10, with 2,347 shares, Caribbean Producers finished trading at $5, with 53,540 units, Consolidated Bakeries closed 2 cents higher at $2.02, with 40,000 shares, Dolphin Cove finished at $17.10, with 350 stock units. Elite Diagnostic settled at $3.25, with 244,041 units, FosRich Group finished trading with a loss of 10 cents at $2.50, with 4,287 shares, General Accident closed with a loss of 10 cents at $3, with 89,649 stock units, GWest Corporation ended at $3.20, with 12,254 units. Honey Bun concluded trading at $4.65, with 9,434,940 shares, ISP Finance settled at $15, with 5,000 shares, 
Jamaican Teas ended trading at $4.78, with 11,842 stock units, Jetcon Corporation traded with a loss of 10 cents at $4.05, with 23,588 units. Knutsford Express ended with a loss of 8 cents at $14.40, with 543 shares, Lasco Distributors concluded trading at $4.05, with 2,000 stock units, Lasco Financial finished 10 cents higher at $5, with 94,008 units, Lasco Manufacturing settled at $4.12, with 700 shares. Main Event ended trading 10 cents higher at $6, with 36,317 shares, Paramount Trading finished trading with a loss of 1 cent at $3.09, with 44,524 stock units, Stationery and Office closed 2 cents higher at $5.52, with 3,507 units and tTech concluded trading 82 cents higher at $5.97, with 100 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
New high for JSE with more to come
The JSE main market closed at a new high on Tuesday with indicators pointing to more gains ahead as the market moves gradually upwards.
Jamaica Stock Exchange main market stocks continued on their upward climb as bullish sentiments exert upward pressure and steering the market higher, landed it at new closing high on Tuesday with more gains to come.
The main market closed with moderate trading of 2,989,332 units valued at $34,924,721, flowing from 27 securities changing hands, with 9 rising, 10 falling and 7 trading firm. At the end, the JSE All Jamaican Composite Index rose 1,341.98 points to end at a record closing high of 324,609.33 and the JSE Index advanced by 1,222.70 points to a new closing record high of 295,755.80.
In market activity, 
Barita Investments closed at $9.50, with 1,317 shares trading, Cable & Wireless concluded trading with a loss of 10 cents at $1.20, with 143,146 units, Carreras finished 10 cents higher at $10.70, with 102,432 shares, Caribbean Cement settled $1 higher at $36, with 112,607 shares, Grace Kennedy traded 1,496 stock units in rising $1 to end at $49. Jamaica Broilers finished trading with a loss of 50 cents at $20.50, in exchanging 198,187 units, Jamaica Producers closed with a loss of 88 cents at $15.12, with 6,207 shares, Jamaica Stock Exchange ended 25 cents higher at $6.95, with 6,248 shares, JMMB Group concluded trading with a loss of 40 cents at $25.60, as 5,739 shares changed hands. Kingston Properties finished 15 cents higher at $6.40, with 5,000 stock units, Mayberry Investments ended trading 88 cents higher at $6.42, with 36,780 shares, NCB Financial Group fell by $1.51 to $97.49, with 21,004 shares trading, 1834 Investments rose 1 cent to $1.20, with 37,871 shares. 138 Student Living ended at $5.50, with 8,500 shares, changing hands. Palace Amusement rose $100 and closed at $1,100, with 100 stock units trading, 
PanJam Investment ended with a loss of 35 cents at $42.65, with 1,351 units, Radio Jamaica settled 8 cents higher at $1.09, with 102,002 shares, Sagicor Group lost 35 cents to end at $36.15, with 75,366 stock units. Sagicor Real Estate Fund ended trading at $15.49, with 300 shares. Scotia Group finished at $53.99, with 1,985 shares changing hands, Seprod closed at $33, with 30,103 shares, Supreme Ventures concluded trading with a loss of 20 cents at $11.70, after 83,750 stock units were exchanged, Victoria Mutual Investments finished with a loss of 44 cents at $4.05, with 474,525 units and Wisynco Group settled with a loss of 34 cents at $10.50, with 1,520,527 shares. In the main market preference segment, Jamaica Money Market 7.5% traded at $1.99, with 1,193 stock units, JMMB Group 7.5% closed at $1.02, with 11,396 shares.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Record close for JSE majors on Tuesday.”
Record close for JSE majors on Tuesday
The main market Jamaica Stock Exchange enjoyed a second consecutive day of gains on Tuesday, with the market indices ending at new record closing highs.
At the end of trading, the JSE All Jamaican Composite Index rose 1,341.98 points to end at a record closing high of 324,609.33 and the JSE Index advanced by 1,222.70 points to finish at a record closing high of 295,755.80.
Trading resulted in, flowing from the exchanging of 29 securities, with 10 rising, 10 falling and 9 trading firm, in the main and US dollar markets.
Securities closing with sizable price changes include, including a rise of $1 in the price of Caribbean Cement to $35, Grace Kennedy gained of $1 to $49, Mayberry Investments rose 88 cents to $6.42,
Palace share price climbed $100 to $1,100
Palace Amusement added $100 to $1,100 and NCB Financial lost $1.51 to end at $97.49.
Main market activity ended with 2,989,332 units valued at $34,924,721 changing hands compared to 11,248,457 units valued at over $130,109,783 on Thursday. Wisynco Group with 1,520,527 units that accounted or 50.87 percent of the overall market volume and Victoria Mutual Investments closed trading with 474,525 units and 15.87 percent of traded volume were the two dominant trades.
Trading resulted in an average of 110,716 shares valued at $1,293,508, for each security traded, compared to 387,878 shares valued at $4,486,544 on Thursday. In contrast, March closed with an average of 626,526 units with an average value at $20,492,207 for each security traded.
The US dollar market closed on Tuesday with 144,650 units valued at US$30,130. JMMB Group 7.5% preference share traded 1,500 units with rise of a fraction of a cent, to close at US$1 after rising by 5 US cents and Proven Investments closed trading with 143,150 units at 20 US cents. The market index closed unchanged at 161.45 points.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 9 stocks ended with bids higher than their last selling prices and 4 with a lower offers.
For more details of market activities see – New high for JSE with more to come
KLE profit rise from ongoing operation
KLE Group reports profit for 2017.
Profit at KLE Group fell 95 percent for 2017 to $9 million from $162 million in 2016 but the 2016 result was boosted by a one off gain from sale of shares in a subsidiary, amounting to $164 million.
Without the one gain profit would have increased sharply from just under $2 million in 2016. Earnings per share ended at 6 cents. The company actually suffered a loss in the order of $12 million in the December quarter. Sale revenues that rose 10 percent for the year, to $215.4 million from $196 million in 2016.
Gross profit margin remained at 68 percent in both years while gross profit rose by 9 percent over 2016. Other income closed the year at $17 million, remaining constant with 2016 excluding one off gains.
Other operating and administrative expenses rose just 6 percent to $152.5 million while Finance cost declined to $2.4 million from $2.76 million in 2016.
Importantly, gross cash flow brought in $22 million but growth in receivables and reduction in payables reduced the net cash for the year and investments activities left cash at the $7 million level.
At the end of December, shareholders’ equity stood at $140 million with borrowings at just $14 million. Net current assets ended the period $64 million and current liabilities at $57 million.
The stock traded at $2.50 on the Junior Market of the Jamaica Stock Exchange with a PE ratio of 12.5 times 2018 IC Insider.com forecasted earnings of 20 cents.
Purity can turn around 2017 loss this year
Consolidated Bakeries (Purity) make a loss in 2017 but could return to profit in 2018.
Profit melted away at Consolidated Bakeries for 2017 with a loss of $40 million down from a profit of $10 million in 2016 from sale revenues that slipped from $880 million to $863 million.
The company continued the loss right through to the year with a loss of $9 million before differed tax charge in the final quarter but the 2017 loss was lower than the loss of $20 million in the same period in 2016. Closer examination of the results show hope for the company going forward, into 2018
While revenues for the year fell 2 percent it rose 10 percent in the December quarter and helped to improve gross profit to 39 percent from just 31 percent in 2016 quarter. The 2017 final quarter was also much higher than the 35 percent for the full year.
Cost appeared mixed, with marketing and sales expenses rising 31 percent to $55 million and 17 percent to $158 million as this category of cost out stripped revenues by a big margin.
Administrative expenses fell 41 percent to $23 million in the quarter and fell 3 percent for the year to $158 million. Finance cost jumped in the quarter, to $16 million from $7 million, in 2016 and from $12 million to $19 million for the year.
Consolidated Bakeries Miss Birdie Easter bun.
Revaluation of the Jamaican dollar cost the company $4 in the final quarter and resulted in reduction in other income ending with a negative $2.5 million versus $5.5 in 2016 and just 875,000 for the full year versus $9 million, while the big jump in Finance cost in the December quarter seems to be one off, as such without these two items the company would have reported a profit for the quarter and augurs well for the 2018 results.
Gross cash flow was negative $7 million but growth in receivables, inventories, addition to fixed assets and drawn down on investments was offset by net loan inflows and increased payables and increased in bank overdraft ended at $74 million. At the end of December, shareholders’ equity stands at $716 million which was boosted by gain on revaluation of land and building by $206 million. Borrowings at just $135 million. Net current assets ended the period $92 million well over payables of $77 million.
Earnings per share was negative for the quarter and the fiscal year. The stock traded at $2 on the Junior Market of the Jamaica Stock Exchange with a PE ratio of 12 times 2018 estimated earnings of 17 cents. Earnings could be more if revenues were to increase above 10 percent for 2018.
Paramount’s lubricant plant in operation
New Lubricant plant at Walton Park Road
Profit at Paramount Trading, jumped 137 percent to $34 in the first quarter to August last year, but declined by 35 percent in the November quarter, to $24 million from $37 million in 2016.
For the six months to November, profit rose only 13 percent to $58 million from $51 million in 2016. Sale revenues rose 28 percent for the November quarter, to $257 million from $200 million in 2016 and increased 31 percent for the year to date, to $487 million from $370 million in 2016.
The board of directors in their report to shareholders accompanying the quarterly, stated that “our lubricant business line produced strong sales during the quarter when compared to the last year growing $28 million or 261 percent and by $41.6 million with a 248 percent increase year to date. Technical grade product sales grew by $47 million or 137 on quarterly basis and $83 million or 133 percent year over the period year. We expect this trend to continue into the last two quarters.”
Processing and storage tanks inside factory.
Profit margin declined in the November quarter to 28 percent from 30 percent in the 2016, and slipped to 29 percent from 31 percent for the year to date period. The effect, gross profit rose 15 percent in the quarter to $99 million from $86 million and 19 percent for the year to date, to $200 million from $169 million in 2016.
While revenues rose solidly, so did administrative expenses that jumped 47 percent to $72 million in the quarter and increased 13 percent in the six months period to $121 million. Finance cost declined in the quarter, to a negative $2 million from $4 million in 2016 and from $7 million to $1.5 million for the half year.
Earnings per share came out at 1.5 cents for the quarter and 3.7 cents for the six months and should end the fiscal year ending to March around 25 cents with four months production and sales from the lubricant plant and the expanded chlorine and bleach operations.
Gross cash flow, brought in $72 million but growth in receivables, inventories, addition to fixed assets offset by loan inflows and reduced Payables wiped out the gains.
Another view inside of the factory.
Shareholders’ equity stands at $739 million with borrowings at just $77 million. Net current assets ended the period at $486 million, well over payables of $237 million. Inventories rose to $394 million from $320 million at the end of November 2016 and receivables climbed to $321 million from $238 million with cash and investments ending at $78 million.
The company commenced operation of the joint venture lubricant plant from around a month ago as well as production of bleach, an addition of a new product line. When the lubricant plant was announced in 2015, the estimate for revenues was in the US$5 million range but now that Alpart is reopened, the amount should rise.
The stock traded at $3.10 on the Junior Market of the Jamaica Stock Exchange with a PE ratio of 5.6 times IC Insider.com, 2019 earnings of around 55 cents per share.