The Jamaica stock market is off to a relatively moderate start on Monday, but 11 securities in the junior market has so far traded. Trading in main market stocks resulted in two securities having over 100,000 units trading, as Cable & Wireless had 482,450 units changing hands at $1.48 and Desnoes & Geddes with 201,196 units at $30 but Caribbean Flavours had 318,048 units changing hands at $5. 
The junior market has 9 stocks with bids higher than the last selling price but supply is low with 11 securities having no stocks being offered for sale. This is a good indicator for prices to rise in this market segment.
The All Jamaican Composite index eased 208.35 points to 153,465.11 point, the JSE Market Index fell 186.43 points to 138,255.95 the JSE combined index lost 168.96 points to be at 145,040.24 and the junior market index inched up by 0.79 points to its highest level of 1,624.49.
The number of securities trading climbed sharply to 30 securities changing hands with a volume of 1,803,002 units as 6 stocks gained and 8 declined after 75 minutes of trading.
The JSE in moderate trading
Revenue growth pushes down C&W loss
Cable & Wireless HQ
The company posted losses of $485 million after exceptional expenses in the September quarter, or 11 percent less than the $548 million loss for the six months in 2014.
EBITDA earnings grew to $1.2 billion compared to $971 million a year ago and for the half year $2.58 billion versus $1.78 billion, an increase of 45 percent.
“Each line of business showed improved results leading to growth in total revenues and EBITDA. Our mobile business was again the leading performer with our pre-paid subscriber base growing by 23 percent and our post-paid subscriber base growing by 6 percent when compared to the prior year first half,” stated Garfield Sinclair who heads C&WJ, in the financial report.
During the quarter, revenues grew 9 percent to $5.63 billion. This growth was filliped by mobile subscriber base and revenues up 22 percent and 16 percent respectively; and broadband subscribers and revenue up 8 percent and 11 percent respectively. Revenues for the half year grew 10 percent to $11 billion as revenues for the September quarter exceeded that of the June quarter by $179 million or 3.3 percent.
Interest cost declined in the quarter to $934 million from $1 billion last year and should fall in the coming quarters as the interest rates reset downwards in November, to 7.2 percent from 7.787 percent with the fall in local Treasury bill rates. For the half-year interest cost amounts $2 billion. Staff costs are down by $300 million in the six months period from that of 2014 to be at $1.246 billion but out payments and direct cost rose $226 million with the September quarter by $149 million over the June quarter.
The company generated operating cash flow of $520 million compared with negative cash flows of $133 million in six months to September 2014.
The financials does not show any indication of a merger between the local operations of Flow and C&W but the latter wrote large amounts of assets and made staff redundant but no mention is made in the report as to how the two entities will be operating going forward. There are questions to be answered here.
The company’s shares are listed on the Jamaica Stock Exchange last traded at $1.45.
Christmas treat for Carreras owners
Shareholders of Carreras are in for a nice Christmas treat with a big distribution in December. The company announced the payment of an interim dividend of $1.40 per share payable on December 10, for shareholders on record as at November 27, 2015 and a special capital cash distribution of $1.94 per share payable on December 17, to shareholders on record as at November 27, 2015.
The ex-dividend date for both payments is November 25, 2015. The payment in December will bring the amounts paid in 2015 to $8.74, with a dividend yield of 24 percent, based on the stock price at the start of the year. In addition, the stock has gained 54 percent so far this year, for a total return of 78 percent. Going forward investors can expect to receive around $6 per share as most of if not all of the capital distributions are over for now with the full amount that funded capital distributions were due from the government and the amount is now fully collected.
Prior to these proposed payments, dividends were paid in September, amounting to $1.20 per share along with and interim special capital cash distribution of $0.60 per share. An interim dividend of $2 per share was pay on June 25 and an interim dividend of $1.60 per share was paid on March 12.
Interim results to September, show revenues and profit rising in the quarter, with revenues climbing to 15 percent for the quarter to $3.06 billion and 8 percent for the half year to $5.68 billion. Profit rose 24 percent for the quarter to $762 million and 19 percent for the half year to $1.39 billion. Earnings per share amounts to $1.57 for the quarter and $2.85 for the half year. The company is on it way to just about exceed $6 per share for the fiscal year.
The stock is listed on the Jamaica Stock Exchange and last traded at $56.
Juniors above 1,600 points – highest close
Caribbean Producers closed at a new high of $3.93 in response to sharply increase Q1 results.
stocks closing at new 52 weeks’ high.
Only 2 securities ended with no bids to buy and 9 had no stocks being offered for sale, an indication of chronic supply shortage of junior market stocks. A total of 7 stocks closed with bids higher than the last traded prices and none closed with lower offers.
In trading, Access closed with a gain of $1.95 at $13.50, with 4,000 units changing hands, Blue Power traded 4,000 shares in closing at $13, Caribbean Cream ended with 48,753 shares changing hands at $4.60. Caribbean Flavours traded 506,228 units to end with a loss of 1 cents at $4.90, Caribbean Producers gained 52 cents and traded 543,433 units at $3.93 for a new 52 weeks’ high as investors continued to respond to good first quarter results. Consolidated Bakeries ended at $1.90, with 312,000 units changing hands. Derrimon Trading ended with 45,000 shares changing hands and closed at $3.20, Dolphin Cove had 74,000 shares changing hands at $12.85, for a decline of 65 cents, General Accident Insurance traded only 7,500 units at $1.91 for a loss of 5 cents.
Honey bun traded with a gain of 2 cents to end at 52 weeks’ high of $5.30 with 82,748 units changing hands, KLE Group ended with 5,000 units trading at 65 cents, Lasco Distributors closed with 61,595 shares changing hands, with a rise of 5 cents to $4.45 after trading as high as $4.50. Lasco Financial closed with an increase of 6 cents at a new 52 weeks’ closing high of $3.31 with a total of 365,448 shares changing hands after trading as high as $3.50. Lasco Manufacturing closed at $4.03 with 661,204 shares changing hands and Derrimon Trading preference share ended with 8,010 shares changing hands at $2.20.
Juniors up 103% for 2015 to date
Lasco Manufacturing drink factory, which help push profit & the stock to new highs on Tuesday.
The market ended with 5 stocks closing at new 52 weeks’ high and 2 at an intraday high, while 2 securities ended with no bids to buy and 10 had no stocks being offered for sale. A total of 6 stocks closed with bids higher than the last traded prices and 2 closed with lower offers.
In trading, Cargo Handlers closed at $35 with 2,730 units changing hands to end at a new 52 weeks’ high of $35 while gaining $2, Caribbean Cream with 60,000 shares changing hands ended at $3.95 but traded for a new 52 weeks’ high. Caribbean Flavours gained 10 cents while trading 485,543 units to end at $4.50, for a new 52 weeks’ high, Caribbean Producers traded 60,000 units for a rise of 10 cents to end at $3, Consolidated Bakeries traded 15,000 shares, to end at $1.80 with a loss of 10 cents.
Derrimon Trading rose 10 cents to end at a new high of $3.10, with only 12,000 units changing hands, General Accident ended with 1,149,000 shares changing hands, in closing at $1.90, after falling 10 cents, Jamaican Teas had 50,000 shares trading to close at $3.90, Knutsford Express had 5,780 shares changing hands at $7 after rising by 50 cents to close at a new 52 weeks’ high. Lasco Distributors ended with 738,362 shares changing hands and closed with a gain of 20 cents at $3.40. Lasco Financial closed with a 15 cents increase at $2.45 after trading earlier at $2.71, with a total of 954,116 shares changed hands and Lasco Manufacturing ended at a new all-time closing high of $3.90 with 663,465 shares changing hands with a rise of 50 cents.
C&W falls 9 cents to 85 cents in morning session
Cable and Wireless fell by a further 9 cents to 85 in early trading on Tuesday with 589,169 units. The stocks now has bid of 82 cents to buy 300,000 shares on the offer is 60,000 units at 85 cents. In the wider market JMMB Group traded 1,013,700 units at $10, National Commercial Bank traded 248,000 units at $32.50 down from the last traded price of $36 on Monday.
Radio Jamaica jumped to a new high of $5, Knutsford Express Services traded 5,780 shares at a new high of $7 and Lasco 
Manufacturing with 322,996 units closed at a new high of $4.the company’s results for the September quarter was released with rising to $497 million from $269 million in 2014. Scotia Group rose $1.51 with 760,907 units trading $28.50.
Trading resulted in 27 securities changing hands with a volume of 4,770,662 units as 15 stocks gained and 4 declined and a number of new all-time highs were reached with the Jamaica Stock exchange.
The Jamaica stock market after 90 minutes of trading, recorded gains in the indices. The All Jamaican Composite index gained 370.46 points to 147,056.49 JSE Market Index rose 331.50 points to 132,521.46 the JSE combined index climbed 629.28 points to be at 137,471.38 and the junior market index rose 35.42 points to its highest level of 1,383.19.
Another record close for juniors – Monday
Honey Bun closed at a 52 weeks’ high of $5.10
The market ended with 3 stocks closing at new 52 weeks’ high and one at an intraday high, while 3 securities ended with no bids to buy and 9 had no stocks being offered for sale. A total of 6 stocks closed with bids higher than the last traded prices and one closed with a lower offer.
In trading, AMG Packaging closed at $4.85 after trading at $5 with 83,316 units changing hands. The company reported big increase in profits after trading closed on Friday with earnings for the full year to August being 78 cents per share, up from 45 cents in 2014, Caribbean Cream with 188,800 shares changing hands ended at $3.40 but traded at an intraday high of $3.60. Caribbean Flavours gained 36 cents while trading 11,806 units to end at $4.40, Caribbean Producers traded 33,704 units for a loss of 11 cents to end at $2.90. Consolidated Bakeries traded 71,000 shares, to end at $1.90 with a loss of 10 cents, Dolphin Cove fell 1 cent to end at $12.99, with only 850 units changing hands.
General Accident ended with 31,129 shares changing hands, in closing at $2, after rising 30 cents, Honey Bun traded 1,070 shares at $5.10, for a new 52 weeks’ high, with a gain of 10 cents. Jamaican Teas had 75,615 shares trading to close at $3.90 after rising 48 cents, Lasco Distributors with 153,661 shares changing hands and closed with a gain of 10 cents at $3.20. Lasco Financial closed with a 10 cents decline at $2.30 after trading earlier at $2.50, after 105,409 shares changed hands. Lasco Manufacturing traded 250,635 shares to end with a decline of 3 cents to $3.40 and Medical Disposables ended with 514,192 units changing hands to end with a gain of 50 cents to a new all-time high of $3.50.
Junior market slips below 1,300 on Tuesday
Consolidated Bakeries with their Purity brand closed at a new 52 weeks’ high on Tuesday
The junior market enjoyed wide spread trading as 13 securities changed hands leading to the market index falling 19.83 points to close at 1,296.41. A total of 3,546,444 units, valued at $11,640,858 changed hands as 7 stocks advanced and 5 declined.
The market ended with 4 stocks closing at 52 weeks’ high and one traded at an intraday high. At the close 3 securities ended with no bids to buy, while 5 had no stocks being offered for sale. A total of 5 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, Access Financial closed with a loss of 36 cents to $12.50 with 57,729 units changing hands, AMG Packaging closed with a gain of 63 cents at $5 with 43,796 units changing hands for a 52 weeks’ high, Caribbean Cream rebounded with a 15 cents rise and closed at $3.35 with 1,170,036 shares changing hands. Caribbean Flavours fell 8 cents to $4 with 300,685 shares changing hands, Caribbean Producers traded 346,000 units for a gain of 14 cents end at $3.10, Consolidated Bakeries traded 20,556 shares with a gain of 15 cents to end at $1.65, to close at a new 52 weeks’ high.
Dolphin Cove had 4,585 units changing hands to end at $11.20 having lost $1.80, KLE Group ended with 39,000 shares changing hands and gained 2 cents to end at 45 cents. Lasco Distributors with 532,514 shares changing hands, closed 5 cents lower at $3.01 after hitting an intraday for a 52 weeks high of $3.40, Lasco Financial gained 23 cents and closed at $2.63 to close at a 52 weeks high while 740,049 shares changed hands. Lasco Manufacturing traded 283,090 shares to end at $3.11 while shedding 34 cents, Paramount Trading ended with 4,504 units changing hands for 10 cents higher to end at $7.10 and Derrimon Trading preference share ended with 1,400 shares changing hands to end at $2.20
10 junior stocks rose on Monday
The junior market enjoyed wide spread trading as 15 securities trading and the market index gaining 5.92 points to close at 1,316.57 for another record close. A total of 2,615.192 units, valued at $12,840,259 changed hands as 10 stocks advanced and 3 declined.
The market ended with 4 stocks closing at 52 weeks’ high. 4 securities ended with no bids to buy, while 8 had no stocks being offered for sale. A total of 4 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, Access Financial closed with a gain of 16 cents to $12.86 with 6,672 units changing hands, Caribbean Cream rebounded with a 10 cents fall and closed at $3.20 with 6,500 shares changing hands. Caribbean Flavours rose 13 cents to $4.08 with 100,000 shares changing hands to close at a new 52 weeks’ high. Caribbean Producers traded 155,000 units for a gain of 46 cents end at $2.96, Consolidated Bakeries traded 117,800 shares with a gain of 20 cents to end at $1.50, Derrimon Trading had 108,498 units changing hands to end at $2.70 having gained 30 cents for a new 52 weeks’ high. General Accident ended with 24,208 shares changing hands and lost 15 cents and ended at $2.05, it-jumps-129-at-honey-bun/”>Honey Bun traded only 235 shares and gained 10 cents to land at $4.18, 
Jamaican Teas had 337,560 units changing hands for 4 cents lower to end at $3.40. Lasco Distributors with 928,359 shares changing hands, closed 11 cents higher at $3.06 for a 52 weeks high, the stock traded as high as $3.30. Lasco Financial gained 4 cents and closed at $2.49 to close at a 52 weeks high while 181,367 shares changed hands. Lasco Manufacturing traded 550,293 shares to end at $3.45 while gaining 15 cents, Derrimon Trading preference share ended with 45,200 shares changing hands to end at $2.20 and Jamaican Teas debenture had 50,000 units changing hands for 4 cents lower to end at $100.
All Jamaica at new record high
The JSE all Jamaica Composite index is at a new all-time high of 139,537.61 at 11.13am on Monday morning after gaining 2,027.33 points, breaking the old record close of 138,917.59 set on 24th of January 2005.
The rise in the price of Cable & Wireless shares by 20 cents or 24.4 percent for the day would be the main contributor to the rise. Others to contribute would be Caribbean Cement up $1.72 to $16.72, Mayberry Investments up 50 cents to $3.50 and Sagicor Real Estate X Fund up $1.05 to $9.20.