New listings retreat on Friday

January 5, 2018 by

Newly listed Victoria Mutual Investments and Wisynco Group are two of 6 main market stocks to pull back on Friday with 2.96 million and 1.85 million units traded respectively.
All four stocks that listed on the Jamaica Stock Exchange, in December have retreated from their peak, FosRich fell 48 percent, GWest 33 percent, Wisynco Group 28 percent and VM Investments down 10 percent.
At the close of trading on Friday the JSE All Jamaican Composite Index shed 585.03 points to end at 316,302.83 and the JSE Index fell 533.03 points to close at 288,187.64. Trading ended with 8,660,030 units valued at $83,892,685 from 27 securities changing hands, of which 12 advanced, 6 declined and 9 traded with prices unchanged.
In the main market activity, Berger Paints finished at $18, with 13,043 shares, Cable & Wireless settled 8 cents higher at $1.39, with 510 shares, Caribbean Cement ended trading with a loss of $3.50 at $32, with 16,735 stock units, Carreras traded 9 cents higher at $11.40, with 180,461 units. Ciboney Group finished trading at 37 cents, with 55,200 shares, Grace Kennedy closed 45 cents higher at $43.45, with 10,493 shares, Jamaica Broilers ended at $18, with 1,219,377 stock units, Jamaica Producers concluded trading at $16.50, with 51,177 units. JMMB Group settled at $25, with 71,228 shares, Kingston Wharves traded 12,597 units and rose $2.98 to $33.99, Mayberry Investments finished trading 10 cents higher at $6.10, with 159,384 shares, NCB Financial Group closed with a loss of 60 cents at $98.90, with 61,628 shares. 1834 Investments ended with a loss of 2 cents at $1.28, with 40,063 stock units, PanJam Investment concluded trading $1.50 higher at $42, with 7,850 units, Portland JSX jumped $1.05 to close at $11, with 164,468 shares, Pulse Investments settled 9 cents higher at $2.19, with 68,456 shares trading, Radio Jamaica ended trading at $1.05, with 100,000 stock units. Sagicor Group traded 10 cents higher at $34.75, with 46,157 units, Sagicor Real Estate Fund finished trading 50 cents higher at $15, with 2,640 shares, Salada Foods closed with a loss of $2 at $11, with 30,000 shares, Scotia Group ended $1 higher at $52, with 2,832 stock units changing hands. Sterling Investments finished at $13, with 3,202 shares, Supreme Ventures settled 10 cents higher at $12, with 48,904 shares, VM Investments Limited ended trading with a loss of 33 cents at $4.07, with 3,594,152 stock units and Wisynco Group traded with a loss of 70 cents at $10.80, with 2,698,773 units. In the main market preference segment, Jamaica Money Market Brokers 7.5% traded 100 units at $1.80 and JMMB Group 7.5% traded 600 units to close at $1.15.

Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Main market retreat moderately.”

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

Junior Market climbs over 2800 points- Friday

January 5, 2018 by

FosRich price pressured by profit taking, falls to $2.60..

Trading on the Junior Market of the Jamaica Stock Exchange ended on Friday with 20 securities changing hands, resulting market index advancing for the fourth straight day, by 39.93 points to close at 2,813.02, even as investors took some profit on recently listed shares.
At the close of trading, 20 securities changed hands compared to 26 on Thursday. The prices of 3 securities advanced, 7 declined and 9 remained unchanged. Trading activities resulted in an exchange of 3,743,313 units valued at $16,211,640 compared to 4,211,446 units valued at $18,316,095 on Thursday.
Trading ended with an average of 187,166 units for an average of $810,582 in contrast to 161,979 units for an average of $704,465 on Thursday. Trading month to date amounts to an average of 143,772 units valued at $599,073 and previously 131,548 units valued at $494,185. December closed with average of 568,732 units valued at $3,447,957 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 8 stocks ending with bids higher than the last selling prices and 1 with a lower offer.
At the close of the market, CAC 2000 settled 80 cents higher at $7.30, with 864,573 shares after the company posted results for 2017 with earnings per share of 78 cents. Caribbean Cream traded with a loss of 99 cents at $6, with 2,600 units, Caribbean Producers closed with a loss of 22 cents at $4.28, with 235,155 shares, C2W Music finished at 51 cents, with 37,522 shares, Express Catering ended trading 20 cents higher at $4.40, with 97,740 stock units. FosRich Group traded with a loss of 40 cents at $2.60, with 77,356 units traded as investors continue to take profit from the run up after the initial public offering of shares at $2 each. General Accident finished trading at $2.95, with 33,000 shares, GWest Corporation closed at $3, with 1,810,292 shares, ISP Finance finished at $12.50, with 126 shares. Jetcon Corporation ended trading with a loss of 35 cents at $4.65, with 113,000 stock units, Key Insurance traded with a loss of 35 cents at $3.10, with 59,986 units, KLE Group finished trading at $2.15, with 9,300 shares, Knutsford Express closed at $14.80, with 7,659 shares. Lasco Distributors ended at $3.80, with 63,491 stock units, Lasco Financial concluded trading with a loss of 30 cents at $5.30, with 70,113 units, Lasco Manufacturing finished at $4.17, with 203,205 shares, Main Event settled at $5.80, with 20,463 shares. Paramount Trading traded 15 cents higher at $3.15, with 11,000 units and Stationery and Office finished trading with a loss of 20 cents at $4.80, with 24,232 shares.

Prices of securities trading for the day are those at which the last trade took place.

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

CAC 2000 profit rise but

January 5, 2018 by

CAC2000 the air condition engineering company, reported improved profits for the year to October 2017, after accounting for a provision of $104 million for court judgement claim in the 2016 results.
Profit excluding the amount of the claim fell slightly to $100.5 million in 2017 from $115 million in 2016. Revenues rose 19 percent to $1.2 billion. The situation would have been worse but for a $20 million swing around in bad debts which reduced cost in 2017 by $9.8 million compared to cost of a similar amount in 2016.. Operating cash flows before movements in working capital brought in $121 million up from $49 million in 2016.
Even as revenues climbed strongly, gross profit hardly moved rising to $424 million from $410 million in 2016 as direct cost rose faster than revenues with an increase of 29.5 percent to $786 million.
Directors’ remuneration climbed 25 percent to $41.2 million from $32.5 million, well ahead of the 5 percent increase in staff cost to $116.3 million for the year. Legal and professional fees jumped 47 percent, to $33 million.
Earnings per share ended the year at 78 cents, the stock traded at $7.50 on Friday, before the close of the market. Borrowings ended the fiscal year at $260 million up from $165 million at the end of the 2016 fiscal year, shareholders’ equity rose to $423 million from $322 million in 2016. Cash funds stands at $192 million even as trade receivables climbed $180 million to $536 million but inventories fell $80 million to $209 million.

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

NCB in big trade on Jamaican stock market

January 4, 2018 by

NCB Financial traded more than 10m shares.

NCB Financial accounted for more than half of the shares on the Main Market of the Jamaica Stock Exchange on Thursday with 10 million units leading to 19,253,045 units valued at $1,098,475,593 passed through the market, compared to 9,357,015 units valued at $91,768,857 on Wednesday.
The Jamaica Stock Exchange All Jamaican Composite Index declined by 70.24 points to close at 316,887.86 and the JSE Index declined by 64.00 points to close at 288,720.67.
Market activity ended with 24 securities changing hands, up from 29 on Wednesday as 10 advanced, 11 declined and 4 traded firm.
Trading ended with an average of 802,210 units for an average of $45,769,816 in contrast to 322,656 units for an average of $3,164,443 on Wednesday. The average volume and value for the month to date amounts to 504,258 with a value of $16,361,708. December closed with average of 686,156 units valued at an average of $8,654,832 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 3 with lower offers.
Trading in the US dollar market ended with Proven Investments exchanging 511,100 units with a rise of 1 cent to close at 22 cents with a value of US$117,453. The JSE USD Equities Index rose 0.14 points to end at 175.18.
The major movers at the close of the market other than NCB Financial are, Radio Jamaica with 1.3 million shares trading at $1.05 at the close, Victoria Mutual Investments, closed trading with 2.96 million shares with the price closing $4.40 and recent listed Wisynco Group, traded 1.85 million shares closing at $11.50. Caribbean Cement jumped $4.03 to $35.50, JMMB Group dropped $2 to $25, Mayberry Investments added $1 to close at $6, PanJam Investment fell $3 to $40.50.

For more details of market activities see – JSE main market consolidating.

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

Buoyant Junior Market – Thursday

January 4, 2018 by
Lasco Distributors traded at a new 52 weeks' low of $3.50

Lasco Distributors products. The company’s stock fell to a 52 weeks’ low of $3.50.

Trading activity remained elevated on the Junior Market of the Jamaica Stock Exchange on Thursday. A total of 26 securities changed hands up from 25 on Wednesday, exchanging 4,211,446 units, valued at $18,316,095, compared to 4,072,802 units valued at $15,715,409 on Wednesday.
At the close of trading the market Index squeezed out 5.01 points to end at 2,773.09 as the prices of 9 securities advanced, 6 declined and 11 remained unchanged.
Trading ended with an average of 161,979 units for an average of $704,465, following from 162,912 units for an average of $628,616 that traded on Wednesday. Trading month to date amounts to an average of 131,548 units valued at $494,185 and previously 113,966 units valued at $444,176. December closed with average of 568,732 units valued at $3,447,957 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 1 stock ending with the bid higher than the last selling price and 2 with lower offers.
At the close of the market, Access Financial closed at $42, with 2,843 shares, AMG Packaging finished at $2.90, with 1,500 shares, C2W Music finished trading at $0.51, with 35,000 shares, Caribbean Cream settled 89 cents higher at $6.99, with 20,000 shares, Caribbean Producers closed 14 cents higher at $4.50, with 32,000 shares. Derrimon Trading ended trading at $7, with 5,000 stock units, Dolphin Cove traded 85 cents higher at $17, with 3,923 units. Eppley ended at $12, with 9,846 stock units, Express Catering concluded trading with a loss of 10 cents at $4.20, with 50,000 units. FosRich Group ended trading with a loss of 1 cent at $3, with 125,216 stock units, General Accident traded 10 cents higher at $2.95, with 14,836 units. GWest Corporation ended with a loss of 30 cents at $3, with 334,526 stock units, Honey Bun concluded trading with a loss of 35 cents at $4.15, with 400 units. Iron Rock ended trading at $3, with 4,750 stock units, Jamaican Teas closed 40 cents higher at $4.50, with 598,421 shares, Jetcon Corporation finished at $5, with 133,194 shares, Key Insurance settled at $3.45, with 984 shares. KLE Group finished trading with a loss of 35 cents at $2.15, with 50,000 shares, Knutsford Express closed at $14.80, with 910 shares. Lasco Distributors finished 28 cents higher at $3.80, with 555,515 shares, after trading at an intraday 52 weeks’ low of $3.50, Lasco Financial settled 10 cents higher at $5.60, with 170,775 shares, Lasco Manufacturing finished trading 67 cents higher at $4.17, with 282,294 shares. Main Event closed 30 cents higher at $5.80, with 26,075 shares, Medical Disposables finished at $4.95, with 1,000,000 shares, Paramount Trading settled at $3, with 5,226 shares and Stationery and Office finished trading with a loss of 25 cents at $5, with 748,212 shares changing hands.

Prices of securities trading for the day are those at which the last trade took place.

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

JSE main market consolidating

January 4, 2018 by

The Jamaica Stock Exchange All Jamaican Composite Index declined by 70.24 points to close at 316,887.86 and the JSE Index declined by 64.00 points to close at 288,720.67. A total of 24 securities changed hands, down from 29 on Wednesday, 10 advanced, 11 declined and 4 traded firm.
NCB Financial accounted for more than half of the shares with 10 million units leading to 19,253,045 units valued at $1,098,475,593 trading. New listings, Victoria Mutual Investments, accounted for 2.96 million shares and Wisynco 1.85 million units.
In the main market activity, Barita Investments rose 1 cent to end at $7.95, with 8,478 units, Berger Paints finished at $18, with 62,626 shares, Cable & Wireless settled with a loss of 8 cents at $1.31, with 821,331 shares, Caribbean Cement ended trading with a surge of $4.03 to $35.50, with 542,827 stock units, Carreras traded with a loss of 14 cents at $11.31, with 480,831 units. Grace Kennedy fell 50 cents to close at $43, exchanging 13,031 shares, Jamaica Broilers ended 79 cents higher at $18, with 26,916 stock units, Jamaica Producers concluded trading with a loss of 5 cents at $16.50, with 28,306 units, Jamaica Stock Exchange finished at $7, with 11,514 shares. JMMB Group fell $2 to $25, with 57,836 shares, Kingston Wharves traded with a loss of $1.99 to end at $31.01, with 9,101 units, Mayberry Investments finished trading $1 higher at $6, with 41,781 shares, NCB Financial Group rose 50 cents to $99.50, with 10,100,229 shares. PanJam Investment concluded trading with a loss of $3 to $40.50, with 88,698 units, Pulse Investments settled with a loss of 29 cents at $2.10, with 35,000 shares, Radio Jamaica ended trading with a loss of 5 cents at $1.05, with 1,303,046 stock units, Sagicor Group traded with a loss of 35 cents at $34.65, with 21,110 units. Sagicor Real Estate Fund finished trading at $14.50, with 83,143 shares, Scotia Group ended with a loss of 10 cents at $51, with 398,181 stock units, Supreme Ventures settled 31 cents higher at $11.90, with 133,694 shares, VM Investments ended trading at $4.40, with 2,964,142 stock units and Wisynco Group traded with a loss of 50 cents at $11.50, with 1,851,366 units. In the main market preference segment, Jamaica Money Market Brokers 7.5% fell 10 cent in trading 50,418 units at $1.80 and JMMB Group 7.5% traded 119,440 units and slipped 1 cent to close at $1.15.

Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “NCB in big trade on Jamaican stock market.“

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

Profit surge 79% at Main Event

January 4, 2018 by

Main Event was the 4th best performing Junior Market stock for 2017.

A 15.6 percent decline in revenues in Main Event’s October quarter, pulled a 10 percent increase in the year to July, down to just 3.9 percent for fiscal year, but that was enough to spark a big jump in profit for the year.
The improvement in the topline, was sufficient to deliver a strong 79 percent increase in profit for the year, to reach $101 million after tax, up from $56.5 million, as the company made profit in the last half compared to a loss in 2016. For the final quarter, in spite of the reduction in revenues to $234 million versus $277 million in 2016, a small profit of $7 million was achieved versus a break even position in 2016.
Cash flow from operation provided $188 million up from $118 million in 2016, but the company purchased fixed assets of $137 million and reduced net liabilities having received proceeds from the issue of shares amounting to $103 million.
Importantly, direct cost fell by $94 million for the year compared to 2016, but administrative and depreciation cost rose by the same amount. With the rise in revenues, gross profit margin improved leading to a strong increase profit for the year. Some of the improved gross profit seemed to have been achieved by cost ending in administrative and depreciation expenses.
The company’s working capital has improved over 2016 with current assets at $292 million compared to current liabilities of $184 million, in 2016 it was $186 million to $212 million. Equity capital is up to $446 million from $242 million in 2016 while borrowings are down to $170 million versus $204 million, with cash funds of $91 million.
Earnings per share adjusted for tax is 38 cents and IC Insider.com projects 55 cents for 2018.
The stock traded at $5.80 on the Junior Market of the Jamaica Stock Exchange at the close on Thursday for a PE ratio of 11.
The nature of the business exposes it to possible swings in revenues some of it being weather related and others based on the timing of major entertainment events. The effect of such movements suggest that investors may be best rewarded based on a longer term investment posture to benefit from positive surprises in increased business.

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

Trading picks up on JSE Main Market

January 3, 2018 by

Wisynco producers of Wata, traded 3 million shares on Wednesday.

The Jamaica Stock Exchange All Jamaican Composite Index declined by 180.58 points to close at 316,958.10 on Wednesday and the JSE Index slipped 164.53 points to 288,784.67 from a pickup in market activity, with 29 securities changing hands versus 26 on Tuesday.
Cable & Wireless trading 2.1 million units, recently listed, Victoria Mutual Investments, closed trading with 1.9 million shares with the price rising to a new closing high of $4.40 for a gain of 40 cents and recent listed Wisynco traded 3 million shares and closed at $12.
Trading on the Main Market ended with 12 securities advancing, 10 declining and 7 traded firm with 9,357,015 units valued at $91,768,857 changing hands, compared to 11,226,286 units valued at $102,330,476 on Tuesday.
Trading ended with an average of 322,656 units for an average of $3,164,443 in contrast to 431,780 units for an average of $3,935,788 on Tuesday. The average volume and value for the month to date amounts to 374,242 units valued at $ 3,529,079. December closed with average of 686,156 units valued at an average of $8,654,832 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 3 with lower offers.
Trading in the US dollar market ended with Productivity Business closing at 57 cents with 2,541 stock units changing hands and Proven Investments exchanged  3,070,230 units at 21 cents with the total value of of all shares traded amounting to US$705,914. The JSE USD Equities Index rose 8.87 points to end at 175.04.
The major movers at the close of the market are, Berger Paints jumped $1 to $18, JMMB Group surged $3 to $27, Mayberry lost $1 to $5, Pan Jam Investment fell $1.50 to $43.50, Salada Foods jumped by $1 to a new high of $13, Scotia Group dropped $1.90 to $51.10 and Supreme Ventures ended with a gain of $1.58 at $11.59.

For more details of market activities see – “JSE Main Market chills.”

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

JSE Main Market chills – Wednesday

January 3, 2018 by

True Juice orange juice bottled by Wisynco that traded more than 3.785M units on Wednesday.

Trading on the Main Market ended with 29 securities changing hands resulted in 12 advancing, 10 declining and 7 traded firm with 9,357,015 units valued at $91,768,857 changing hands.
Trading ended with the All Jamaican Composite declined by 180.58 points to close at 316,958.10 on Wednesday and the JSE Index slipped 164.53 points to 288,784.67.
In the main market activity, Barita Investments endded trading 44 cents higher at $7.94, with 6,085 units changing hands, Berger Paints climbed $1 to $18, trading 326,949 shares, Cable & Wireless settled with a loss of 1 cent at $1.39, with 2,140,830 shares, Caribbean Cement ended trading with a loss of 53 cents at $31.47, with 20,428 stock units. Carreras traded at $11.45, with 328,145 units, Ciboney Group finished trading at 37 cents, with 516 shares, Grace Kennedy closed at $43.50, with 82,650 shares, Jamaica Broilers ended with a loss of 59 cents at $17.21, with 3,555 stock units. Jamaica Producers concluded trading 5 cents higher at $16.55, with 6,000 units, Jamaica Stock Exchange finished with a loss of 5 cents at $7, with 88,166 shares, JMMB Group jumped $3 t0 $27, with 18,530 shares trading, Kingston Wharves traded 50 cents higher at $33, with 476 units. Mayberry Investments finished trading with a loss of $1 at $5, with 26,370 shares, NCB Financial Group closed at $99, with 13,121 shares, 1834 Investments ended at $1.30, with 20,000 stock units, PanJam Investment concluded trading with a loss of $1.50 to close at $43.50, with 378,000 units, Portland JSX finished with a loss of 5 cents at $9.95, with 2,000 shares. Pulse Investments settled 59 cents higher at $2.39, with 6,500 shares, Radio Jamaica ended trading 8 cents higher at $1.10, with 100,000 stock units, Sagicor Group traded with a loss of 30 cents at $35, with 4,100 units, Sagicor Real Estate Fund finished trading 50 cents higher at $14.50, with 595 shares. Salada Foods closed $1.50 higher at 52 weeks’ high of $13, with 1,000 shares, Scotia Group ended with a loss of $1.90 at $51.10, with 26,000 stock units, Seprod concluded trading at $31, with 10,600 units, Supreme Ventures settled $1.58 higher at $11.59, with 7,304 shares. VM Investments Limited ended trading 40 cents higher at $4.40, with 1,911,097 stock units and Wisynco Group traded with a loss of 50 cents at $12, with 3,785,911 units. In the main market preference segment, Jamaica Money Market Brokers 7.5% traded 27,300 units at $1.90 and JMMB Group 7.5% traded 14,787 units at $1.16.

Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Trading picks up on JSE Main Market.”

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

Mayberry restructuring

January 3, 2018 by

Mayberry to spin off 10 % of its subsidiary to shareholders.

Dogged by a share price that is bogged down mostly below $5, with a net asset value of $6.54, Mayberry’s directors are recommending distributing a portion of Mayberry West Indies Limited (MWIL), a wholly-owned subsidiary in the form of dividend to Mayberry Investments‘ shareholders.
MWIL is to list on the Jamaica Stock Exchange before the end of the first quarter of 2018 as a result of the move.
Arising from a Board meeting of the Company, on December 29, 2017, a dividend in specie equal to 10% of the Net Book value of its MWIL was declared. This dividend will be effected by the Company transferring, pro rata among its stockholders, shares in MWIL held by the Company and constituting 10% of MWIL’s issued share capital. The record date will be February 16, and shall be effected by transfer of the relevant MWIL shares on February 28 to stockholders. The Ex-dividend date will be February 15.
Based on MWIL’s book value as at November 30, 2017, the dividend in specie is equivalent to approximately $688 million, the Mayberry release said. Mayberry West Indies Limited name is to be changed to “Mayberry Jamaican Equities Limited”.
The Jamaica Stock Exchange requires a minimum of 20 percent of a listed company’s shares to be issued to the public, accordingly, it appears that the plans will be to raise around $700-800 million from the general market prior to listing.

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