Seprod profit up & dividend jumps

November 14, 2016 by

Seprod announced a dividend of $2.63, driving the stock to a new 52 weeks' high of $30.

Seprod announced a dividend of $2.63, driving the stock to a new 52 weeks’ high of $30.

Seprod looks set to pay out all of their 2016 profit in dividend in November, with a payment of $1.36 billion. Chairman Paul Scott told IC Insider that the payment was due to gains made from the sale of shares previously held in Grace Kennedy, giving rise to investment gains of $874 million to September.
The board approved a big pay out of two dollars and sixty-three cents ($2.63) per share on November 28, to all shareholders on record as at November 18. The stock will trade ex-dividend on November 16. The dividend will consume $1.36 billion of the company’s cash and investments which stood at $3.9 billion at the end of September.
Seprod reported profit before losses attributed to minority shareholders in its subsidiary of $127 million for the September quarter versus a loss of $66 million in 2015 and $943 million for the nine months period compared to $375 million in 2015. Earnings per share amounts to 39 cents for the last quarter and $2.09 for the nine months as sale revenues declined to $11.1 billion for the nine months from $11.2 billion in 2015 but with the last quarter rising by 10 percent to $3.5 billion.
According to Scott the future looks bright going forward. “We are breaking even in the sugar operations with 11,000 tonnes of sugar produced last crop, Seprod Group.
Seprod banking on growth in its dairy operations making big contribution to profit.

Seprod banking on growth in its dairy operations making big contribution to profit.

before interest charges and expectation of 16,000 tonnes of sugar being produced in 2017, which should be profitable,” Scott told IC Insider. There is also the expectation of higher price for sugar in 2017 than in 2016. The added tonnage if achieved could result in around $300 million more in revenues with most of it flowing to the bottom line of a The next three years should see a slate of new products being produced with the dairy operations being a major contributor to this thrust with the local and Caribbean markets being targeted. Seprod in it unassuming style quietly produced some of the better returns to shareholders of listed companies, in the last 5 or so years has seen profit stagnated with the tightness in the economy and gig losses in the sugar operation. Recent results and pick up in economic activity locally and with the rate of exchange of the Jamaican dollar having adjusted against the back ground of relatively inflation has given the company a competitive edge in a number of areas which it seems poised to take advantage of in growing the business.
The stock last trade at $27.50 on the main market of Jamaica Stock Exchange and looks like a buy for the further.

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

Jamaican stocks rise but short of record

November 11, 2016 by

NCB closed at a new 52 weeks' high on the JSE on Friday following full year results.

NCB closed at a new 52 weeks’ high on the JSE on Friday following full year results.

Trading levels on the Jamaica Stock Exchange shrank sharply by the close on Friday from Thursday’s levels even as the number of securities trading remained at the same number. At the close the All Jamaica Composite Index climbed 238.43 points to close at 189,392, with the year to date gains at 13 percent.
The JSE Market Index rose 213.19 points to finish at 170,392 and the JSE combined index gained 481.02 points to end at 183,513 with a gain for the year to date of 15.6 percent.
At the close 2,121,591 units valued at $35,719,971 changed hands, compared to 18,462,121 units valued at $230,990,500 changing hands on Thursday. The junior market accounted for 256,384 units trading valued at $1,074,606 of the stocks traded.
The average trade for the day in the main market ended at 81,096 and 155,485 units month to date. On Thursday, an average of 277,373 units traded and fro the month to date, 229,873 units, in comparison the average for the October was 220,811 units.
ICI JSE sum 11-11-16The market closed with 42 securities trading as the prices of 20 gained while 12 declined in the overall market, including 8 stocks rising and 6 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 15 stocks with bids higher than their last selling prices and just 4 with lower offers.
In market activity, Cable & Wireless closed at 85 cents with 76,118 units trading, Caribbean Cement climbed 50 cents with 26,634 units changing hands to close at $30.50, Carreras traded 18,989 shares and gained 50 cents to end at $66, Grace Kennedy end up trading 28,611 units at $41.45. Jamaica Broilers gained 20 cents and closed at $14.70 with 4,058 shares changing ownership, Jamaica Producers lost 20 cents in trading 566,435 shares to close at $8, Jamaica Stock Exchange ended at $5.70 after trading 174,446 shares, JMMB Group traded 2,000 shares to end at $13.70.ICI -JSE fn Qts -11-16 Mayberry Investments ended with 21,000 shares trading to close at $4 for a fall of 1 cent, National Commercial Bank ended trading of 292,035 shares to close at a 52 weeks’ high of $46, the stock closed with just one offer at $50 to sell 200 units. Trading in 138 Student Living, ended with 181,667 shares changing hands to close with a fall of 50 cents at $5, Pan Jamaican Investment closed at $23.70 after trading 57,959 shares, Radio Jamaica closed with a 5 cents loss at $1.45 with 10,186 shares trading, Sagicor Group had 86,046 shares changing hands and rose 5 cents to close at $24. Sagicor Real Estate Fund traded with a rise of 3 cents to close at $10.25 with 28,498 units switching owners, Scotia Group slipped 9 cents in trading 87,290 shares to close at $31.21, Seprod fell 50 cents in trading 21,445 shares to end at $27.50. Supreme Ventures rose 30 cents trading 9,840 shares to close at $5.10 and Proven Investments traded 161,675 units rising slightly to close at 19.97 US cents.

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

Record profit for National Commercial Bank

November 11, 2016 by

NCB con springNational Commercial Bank ended its financial year to September with record profits helped by strong loan growth and big loan recovery of loans that were previously quarantined as doubtful.
The big Jamaican bank posted profit after tax and minority interest of $5 billion for an increase of 34 percent over the similar period in 2015 and a rise of 27 percent for the full year to $15.6 billion.
Earnings per share ended at $2.03 for the fourth quarter and $6.35 for the year. NCB recovered bad loan resulting in a positive flow of $291 million in the last quarter reducing the full year charge to $612 million compared to $1.8 billion in 2015.
Revenues net of interest expense rose 12 percent to $13.6 billion for the quarter and 9.6 percent to $52 billion for the full year. Net interest income grew 8.3 percent for the year to $28.1 billion. NCB results of a boost from Associated company profit, that rose from $122 million to $443 million in the September quarter and to $832 million from $434 million in 2015.
Loans, the critical contributor to revenue growth grew a strong 14.3 percent for the year to reach $189 million while investment securities declined modestly.
The group declared a dividend of 90 cents per share bring the full year payment to $2.25. The stock which remains IC Insider Buy Rated, last traded on the Jamaica Stock Exchange at $45.50 and is in strong demand with limited supply.

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

Jamaican stocks retreat from record

November 10, 2016 by

JSE indx 11-16 The main market of the Jamaica Stock Exchange closed down on Thursday after hitting a new record on Wednesday. The All Jamaica Composite Index dropped 1,569.85 points to close at 189,153.12, bringing the year to date gains to 13 percent. The JSE Market Index fell 1,403.72 points to finish at 170,178.32 and the JSE combined index declined 1,147.57 points to end at 183,032.25 with a gain for the year to date of 15.6 percent.
At the close 18,462,121 units valued at $230,990,500 changed hands, compared to 6,616,334 units valued at $97,621,824 changing hands on Wednesday. The junior market accounted for 11,250,424 units trading valued at $76,439,888 of the stocks traded.
The average trade for the day in the main market ended at 277,373 and 229,873 month units to date. On Wednesday, an average of 186,716 units traded and 182,374 month to date. The average for the October was 220,811 units.
ICI JSE sum 10-11-16The market closed with 42 securities trading as the prices of 9 gained while 17 declined in the overall market, including 4 stocks rising and 7 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 10 stocks with bids higher than their last selling prices and just 1 with a lower offer.
In market activity, Barita Investments fell 10 cents in trading 122,337 units to close at $4, Berger Paints traded 49,519 shares to end at $6.25 after rising 2 cents, Cable & Wireless rose 3 cents and closed at 85 cents with 56,000 units trading. Caribbean Cement had just 10,748 units changing hands to close at $30, Carreras traded 1,980 shares to end at $65.50, Grace Kennedy climbed 46 cents in trading 50,947 units at $41.45, Jamaica Broilers gained 50 cents and closed at $14.50 with 241,400 shares changing ownership, Jamaica Producers lost 4 cents in trading 994,195 shares at $8.20. Jamaica Stock Exchange fell 30 cents, ending at $5.70 after trading 213,422 shares, JMMB Group traded 6,000 shares to end at $13.70, Kingston Properties traded 6,000 shares and closed at $10. ICI -JSE fn Qts 10-11-16Margaritaville Turks traded 1,629,049 shares to close at 22.01 US cents, after declining by 2.5 cents, National Commercial Bank ended with the trading of 49,275 shares to close at $45.50, Pan Jamaican Investment closed at $23.70 after trading 2,751,998 shares, Pulse Investments traded at $3 with 50,000 units changing owners. Radio Jamaica closed unchanged at $1.50 with 16,593 shares trading, Sagicor Group had 678,392 shares changing hands and rose 5 cents to close at $23.95, Scotia Group slipped 49 cents in trading 43,593 shares to close at $31.30, Seprod fell 50 cents in trading 14,051 shares to end at $28. Supreme Ventures lost 20 cents trading 2,000 shares to close at $4.80, Proven Investments traded 121,922 units slipping slightly to close at 19.9 US cents and Jamaica Money Market Brokers 7.5% preference share, traded 92,320 units to close at $2.10.

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

Jamaica Stock Exchange falls

November 10, 2016 by

Trading in the morning session on ICI int -10-11-16Thursday with the Jamaica Stock Exchange saw the main market indices falling and the junior market inching up after 75 minutes of market activity.
In trading, Barita Investments had 122,337 shares changing hands at $4, Jamaica Broilers Group had 216,400 shares trading at $14.50, Jamaica Stock Exchange had 134,135 shares changing hands at $6, Lasco Distributors exchanged 444,354 units at $7 and Lasco Manufacturing traded 294,700 shares at $4.85.
The all Jamaica Composite Index fell 545.35 points to 190,177.62, the Jamaica Stock Exchange Market Index lost 487.64 points to 171,094.40, the Jamaica Stock Exchange combined index declined 393.22 points to close at 184,056.60 and the junior market index rose 5.74 points to 2,471.10.
At 10:30 am, a total of 24 securities traded, resulting in a volume of 1,402,956 shares changing hands carrying a value of $11,287,935, compared to 1,424,992 shares changing hands carrying a value of $9,572,892, on Wednesday.
The average number of shares traded amounts to 58,457 units compared to 71,250 on Wednesday. Market activity resulted in 8 stocks falling while the prices of 8 securities rose.

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

JSE feeds public with erroneous info

November 9, 2016 by

CAR H 2015-06-26 001Jamaica Stock Exchange is one of Jamaica important financial institutions. It is responsible for billion of dollars of investments. Investors rely on it to be transparent and to provide accurate and timely information on which investment decisions can be made. Why does the feed the public with erroneous information, and leave it out in the public without moving speedily to correct same?
Cargo Handlers posted their full year results to September, with profit of $154 million after tax, up from $136 million in 2015 and $30 million for the fourth quarter versus $29 million in 2015.
All of the above is fine but the company is reporting earnings per share as 40 cents for the quarter and $3.30 for the 12 months, based on what they have erroneously claimed are based on the weighted average number of shares held during the period. That of course is nonsense. The company split its stock into 10 units for each one held, subsequent to the year-end, hence there were no additional shares issued up to September. Even if the stock split occurred during the financial year, the split would not give rise to computing the average number of shares in issue. With a stock split or stock bonus the earnings per share is to be computed on the full amount of shares issued at the time of the financial report. Only when fresh capital is introduced from outside the company, would the weighted average number of shares be computed.
JSE signThe earning per share is in fact 80 cents, for the 2016 last quarter and $4.16 for the 12 months. Unfortunately, the Stock Exchange posted the results with the error from Monday and they are still on the website with no change to date and no note to inform investors of the error. If the Jamaica Stock Exchange wants to be taken seriously it needs to do better than this.
Cargo Handlers last quarter’s net position flowed from a 17 percent rise in revenues to $78 million and 29 percent increase for the full year to $324 million. Other operating expenses rose 19 percent for the quarter to $39.8 million and for the full year 28 percent to $132 million.
The numbers may not show it fully, but growth may have slowed considerably, as such growth in profit in the medium term could be quite moderate as can be gleaned from the movement in the quarterly results. At a price of $12 per share, with 375 million units issued the stock price is a tad rich currently with one of the highest junior market PE ratios at 30 times the 2016 earnings. Expectations of investors in the stock have to be that the December quarter’s earnings will rise close to 50 percent, to justify the current price. That level of profit increase looks steep.

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

JSE all Jamaican closes at record 190,723

November 9, 2016 by

NCB closed at a new high on Wednesday.

NCB closed at a new high on Wednesday.

The main market of the Jamaica Stock Exchange surged to a new record high on Wednesday, with the All Jamaica Composite Index surging 2,251.17 points to close at 190,722.97, bringing the year to date gains to 14 percent. The JSE Market Index climbed 2,012.95 points to finish at 171,582.04 and the JSE combined index jumped 2,435.87 points to end at 184,449.82 with a gain for the year to date of 16.5 percent.
At the close 6,616,334 units valued at $97,621,824 changed hands, compared to 7,411,988 units valued at $113,469,413 changing hands on Tuesday. The junior market accounted for 1,948,431 units trading valued at $13,610,614 of the stocks traded.
ICI JSE sum 9-11-16 The average trade for the day in the main market ended at 186,716 and 182,374 month to date units. On Tuesday, an average of 255,960 units traded and 178,031 month to date. The average for the October was 220,811 units.
The market closed with 37 securities trading as the prices of 16 gained while 10 declined in the overall market, including 4 stocks rising and 3 falling, in the junior market. Three stocks in the overall market, traded at new highs.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Barita Investments traded 10,750 units and to close at $4.10, Berger Paints traded 10,285 shares to end at $6.23 after rising 23 cents, Cable & Wireless lost 6cents and closed at 82 cents with 1,036,093 units trading. Caribbean Cement fell 85 cents with just 6,940 units changing hands to close at $30, Carreras traded 3,500 shares and rose 30 cents to end at $65.50, Grace Kennedy climbed 94 cents in trading 32,059 units at $40.99, Jamaica Producers gained 9 cents in trading 30,000 shares at $8.24. JMMB Group traded 2,054 shares and lost 10 cents, to end at $13.70, Jamaica Stock Exchange dived $2, ending at $6 after trading 89,061 shares,ICI -JSE fn Qts 9-11-16 Kingston Properties traded 29,600 shares and closed at $10. Margaritaville Turks traded 85,200 shares to close at a 52 weeks’ high of 24.50 US cents, after rising by 0.50 cent, National Commercial Bank rose 1 cent in trading 104,502 shares to close at a new 52 weeks’ closing high of $45.50, Pan Jamaican Investment gained 40 cents and closed at $23.70 after trading 2,700,060 shares, Sagicor Group had 21,526 shares changing hands and rose 48 cents to close at $23.90. Scotia Group climbed 59 cents in trading 60,823 shares to close at $31.79, Seprod fell $1.50 in trading 20,949 shares to end at $28.50, Supreme Ventures traded 147,357 shares to close at $5. Proven Investments traded 172,995 units and rose 1 cent to close at 20 US cents and Jamaica Money Market Brokers 7.25% preference share traded 80,000 units to close at $2.40.

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

All Jamaican jumps to new high of 190,500

November 9, 2016 by

Gains in Scotia Group, Sagicor and Grace Kennedy pushed the main market into record territory in the morning session on Wednesday with the Jamaica Stock Exchange all Jamaica index is trading in record territory having jumped 2,148 points ahead of 10:30am before slipping slightly lower.
The Jamaica Stock Exchange share price fell back to the just above the pre-split price in early trading as the stock traded 80,061 units down to $6 but was on offer at $5.60 with 7,916,373 units on offer at $5.60 after it traded earlier at $8.01. Bids for the stock are not strong at the moment.
ICI int -9-11-16The all Jamaica Composite Index jumped 2,032.43 points to 190,504.23, the Jamaica Stock Exchange Market Index climbed 1,817.35 points to 171,386.44, the Jamaica Stock Exchange combined index surged 2,119.66 points to close at 184,133.61 and the junior market index gained 42.27 points to 2,452.23.
In trading, Cable & Wireless fell 6 cents to 82 cents with 794,910 units changing hands, in response to improved third quarter results showing just $200 million in losses with revenues climbing 15 percent for the September quarter to $6.5 billion. National Commercial Bank had 80,000 units changing hands at $45.50, Scotia Group traded 39,423 and rose to $32.35 and Jamaica Money Market Brokers 7.25% preference share traded 80,000 units at $2.40 and Proven Investments traded 172,850 shares at 19.99 US cents.
At 10:30 am, a total of 20 securities traded, resulting in a volume of 1,424,992 shares changing hands carrying a value of $9,572,892, compared to 1,690,058 shares changing hands carrying a value of $15,277,557, on Tuesday.
The average number of shares traded amounts to 71,250 units compared to 76,821 on Tuesday. Market activity resulted in 8 stocks falling while the prices of 8 securities rose.

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

More JSE stocks rise than fall

November 8, 2016 by

JSE frnt 4 The main market of the Jamaica Stock Exchange retreated for the second day in a row on Tuesday, with the All Jamaica Composite Index falling 395.03 points to close at 188,471.80, bringing the year to date gains to 12.6 percent. The JSE Market Index dived 353.23 points to finish at 169,569.09 and the JSE combined index dropped 1,072.17 points to end at 182,013.95 with a gain for the year to date of 15 percent.
At the close 7,411,988 units valued at $113,469,413 changed hands, compared to 2,406,886 units valued at $45,582,046 changing hands on Monday. The junior market accounted for 1,268,960 units trading valued at $6,437,908 of the stocks traded.
The average trade for the day in the main market ended at 255,960 and 178,031 month to date units. On Monday, an average of 71,224 units traded with the average for the month to date being 100,103 units. The average for the October was 220,811 units.
ICI JSE sum 8-11-16The market closed with 41 securities trading as the prices of 12 gained while 15 declined in the overall market, including 4 stocks rising and 5 falling, in the junior market.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading shows 12 stocks with bids higher than their last selling prices and 1 with a lower offer.
In market activity, Barita Investments declined by 25 cents in trading 18,400 units and closed at $4.10, Berger Paints traded 77,214 shares to end at $5.90 after falling 15 cents, Cable & Wireless gained 2 cents and closed at 88 cents with 163,017 units trading. Caribbean Cement jumped $1.85 with 6,885 units changing hands, to close at $30.85, Carreras traded 20,710 shares to end at $65.20. Grace Kennedy lost 95 cents in trading 971 units at $40.05, Jamaica Broilers lost 10 cents and closed at $14 with 7,376 shares changing ownership, Jamaica Producers lost 9 cents in trading 7,329 shares to close at $8.15, Jamaica Stock Exchange ended at $8 after trading 361,145 shares. JMMB Group traded 17,000 shares and lost gained 56 cents, to end at $13.80,ICI -JSE fn Qts 8-11-16 Kingston Wharves traded 306,116 shares and rose 3 cents, to close at $17.20, Mayberry Investments gained just 1 cent and ended with 9,065 shares trading at the close at $4, National Commercial Bank traded 15,581 shares to close at $45.49. Trading in 138 Student Living, ended with 56,583 shares changing hands to close with a rise of 50 cents at $5.50, Radio Jamaica closed at $1.45 with 50,000 shares trading, Sagicor Group had 3,344,598 shares changing hands and fell 43 cents to close at $23.42. Scotia Group fell 35 cents in trading 58,464 shares to close at $31.20, Scotia Investments traded 41,821 shares to close at $30, Seprod jumped $5.85 in trading 219,639 shares to end at 52 weeks’ high of $30, Supreme Ventures traded 1,320,818 shares to close at $5 and Proven Investments traded 20,556 units at 19 US cents, up 1.25 cents.

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

Seprod jumps to new high of $30 on JSE

November 8, 2016 by

Seprod jumped $5.85 with 187,289 shares trading to a new high of $30 in early trading on Tuesday on the Jamaica Stock Exchange, but the market indices slipped ICI int -8-11-16sharply with the junior market index dropping a whopping 3 percent or 76 points.
The all Jamaica Composite Index dropped 432.98 points to 188,433.85, the Jamaica Stock Exchange Market Index declined 387.16 points to 169,535.16, the Jamaica Stock Exchange combined index dived 1,141.17 points to close at 181,944.95 and the junior market index dropped sharply by 76.13 points to 2,406.31.
At 10:45 am, a total of 22 securities traded, resulting in a volume of 1,690,058 shares changing hands carrying a value of $15,277,557, compared to 640,254 shares changing hands carrying a value of $13,990,935, on Monday.
The average number of shares traded amounts to 76,821 units compared to 22,078 on Monday. Market activity resulted in 9 stocks falling while the prices of 8 securities rose.
The major trades so far include, Cable & Wireless climbed 4 cents to 90 cents with 110,000 units changing hands, the Jamaica Stock Exchange stock fell $1.75 to $6.25 with 262,510 units trading. The three Lasco stocks all fell and contributed much to the fall in the junior market index with Lasco Distributors trading 375,300 units at $6.50 after falling by 50 cents and Lasco Manufacturing traded 491,600 shares at $4.85.

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