Junior Market starts week positively

Trading on the Junior Market of the Jamaica Stock Exchange, ended on Monday with 22 securities changing hands, resulting in an exchange of 1,906,761 units valued at $16,655,143 compared to only 812,631 units valued at $3,846,042 on Friday.
At the close of market activities, the prices of 9 securities advanced, 5 declined and 8 remained unchanged resulting in the Junior Market Index rising by 11.40 points to close at 2,976.83.
Trading ended with an average of 86,671 units for an average of $757,052 in contrast to 40,632 units for an average of $192,302 on Friday. The average volume and value for the month to date amounts to 62,529 units valued at $348,543 and previously, 59,080 units valued at $290,184. In contrast, October closed with a slightly higher average of 74,690 units valued at $362,548, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ended with bids higher than their last selling prices and 4 with lower offers.
At the close of the market, AMG Packaging ended with a loss of 5 cents at $3.15, with 38,707 stock units traded, Caribbean Flavours traded 30 cents higher at $12.30, with 1,000,000 shares, Cargo Handlers finished trading at $10.99, with 550 stock units, Caribbean Cream traded 10 cents higher at $5.60, with 6,972 shares. Caribbean Producers concluded trading 42,000 units with a loss of 15 cents to end at $3.65, Dolphin Cove ended 12 cents higher at $17.55, with 1,031 shares changing hands, Express Catering traded 8 cents higher at $4.58, with 118,277 stock units, General Accident concluded trading with a loss of 3 cents at $2.70, with 450 shares, Honey Bun closed at $4.80, with 20,000 shares trading, Jamaican Teas settled at $4, with 9,302 units. Jetcon Corporation ended trading 10 cents higher at $4.80, with 79,878 shares, Knutsford Express settled at $12.20, with 7,902 shares, Key Insurance concluded trading at $3.99, with just 100 stock units trading, Lasco Distributors rose 5 cents to end at $5.95, with 70,083 shares, after trading at a 52 weeks’ low of $5.85, Lasco Financial finished trading 30 cents higher at $4.90, with 370,948 stock units, after trading as low as $4.60 during the morning session. Lasco Manufacturing concluded trading 7 cents higher at $4.12, with 20,001 units, Medical Disposables finished with a loss of 10 cents at $5.20, with 36,000 shares. Main Event ended trading 5 cents higher at $5.80, with 64,005 shares, Paramount Trading finished trading at $3.30, with 3,650 units, Consolidated Bakeries ended at $2.36, with 5,000 shares, Stationery and Office traded at $5, with 10,000 stock units and tTech traded with a loss of 33 cents at $7.07, with 1,905 shares trading.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market retreating

The Junior Market Index dropped 33.82 points to close at 2,965.43 on Friday as a number of stocks suffered sizable losses as investors continue to exist stocks of companies that reported profits recently that have not encouraged much buying interest.
Trading ended with 20 securities changing hands, up from 17 securities on Thursday as volumes remain low although 27 percent ahead of Thursday levels. The market closed with the prices of 5 securities rising, 7 declining and 8 remaining unchanged. Investors exchanged 812,631 units valued at $3,846,042 compared to 639,827 units for $3,060,108 previously.
Market activities for the day ended with an average of 40,632 units for an average of $192,302 in contrast to 37,637 units for an average of $180,006 on Thursday. The average volume and value for the month to date amounts to 59,080 units valued at $290,184 and previously 61,834 units at an average of $304,794. In contrast, October closed with average of 74,690 units valued at $362,548 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ended with bids higher than their last selling prices and 1 with lower offers.
At the close of the market, AMG Packaging rose 5 cents to $3.20, with 8,034 stock units trading, Blue Power ended trading with a loss of $1 at $44, as just 1,507 shares were exchanged, Cargo Handlers finished 14 cents higher at $10.99, with a mere 500 stock units, Caribbean Cream ended traded 13,145 shares with a loss of 49 cents and ended at $5.50. Caribbean Producers traded at $3.80, with 10,000 units, C2W Music concluded trading at 49 cents, with 6,650 stock units changing hands, Express Catering finished trading with a loss of 5 cents at $4.50, with 54,333 stock units. Eppley closed at $11.50, with 4,000 units, General Accident concluded trading 3 cents higher at $2.73, with 100,000 shares, Honey Bun ended trading at $4.80, with 34,800 shares, Jamaican Teas closed at $4, with 2,650 units. Jetcon Corporation settled at $4.70, with 13,962 shares, Knutsford Express fell $1.60 to $12.20, with 5,500 shares, Lasco Distributors ended with a loss of 50 cents at $5.90, trading 80,111 shares. Lasco Financial ended trading at $4.60, with 239,722 stock units, Lasco Manufacturing rose 5 cents to end at $4.05, with 21,954 units, Medical Disposables ended with a loss of 40 cents at $5.30, with 900 shares trading, Main Event traded 25 cents higher at $5.75, with 53,485 shares. Paramount Trading closed with a loss of 10 cents at $3.30, with 17,450 units and Stationery and Office ended at $5, with 143,928 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

JSE main market inched higher

Trading on the Main Market of the Jamaica Stock Exchange ended on Friday with 22 securities changing hands, 6 advanced, 8 declined and 8 traded firm with 5,777,201 units valued at $107,680,730 compared to 2,566,192 units valued at $67,621,781 on Thursday.
The JSE All Jamaican Composite Index advanced by 102.47 points to close at 320,729.33, the JSE Index advanced by 93.36 points to close at 292,220.70. The US dollar Equity market lost 6.54 points to close at 169.09 as two securities traded resulting in 29,583 units valued at US$19,957.
Trading ended with an average of 262,600 units for an average of $4,894,579 in contrast to 128,310 units for an average of $3,381,089 on Thursday. The average volume and value for the month to date amounts to 207,395 units valued at $3,425.086 and previously, 199,991 units valued at $3,227,959. In contrast, October closed with average of 1,185,251 units at $16,528,582 for each security traded.
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 3 with lower offers.
JMMB Group traded at a 52 weeks’ high and ended $1 up to $30.50 after trading as high as $30.70. Caribbean Cement finished with a loss of $1.99, NCB Financial rose $1.15 to $108, and Seprod climbed $1.99 to $30 while Jamaica Producers traded just over 4 million shares.

Junior market steady on Thursday

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Trading on the Junior Market of the Jamaica Stock Exchange settled on Thursday with 17 securities changing hands, resulting in an exchange of 639,827 units valued at $3,060,108 compared to 17 securities and 1,174,483 units trading valued at $5,458,374 on Wednesday.
At the close of market activities, the prices of 7 securities advanced, 5 declined and 5 remained unchanged, leaving the Junior Market Index adding just 0.28 points to close at 2,999.25.
Trading ended with an average of 37,637 units for an average of $180,006 in contrast to 61,815 units for an average of $287,283 on Wednesday. The average volume and value for the month to date amounts to 61,834 units valued at $304,793 and previously 65,350 shares at an average of $322,925. In contrast, October closed with average of 74,690 units valued at $362,548 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ended with bids higher than their last selling prices and 1 with lower offers.
At the close of the market, Caribbean Flavours closed at $12, with 9,549 shares, Caribbean Producers concluded trading at $3.80, with 23,958 units, Derrimon Trading closed 1 cent higher at $7, with 8,390 shares, Express Catering finished with a loss of 6 cents at $4.55, with 41,100 stock units, General Accident finished with a loss of 5 cents at $2.70, with 86,000 stock units. Honey Bun ended trading 1,900 shares with a loss of 20 cents at $4.80, Jamaican Teas ended 20 cents higher at $4, with 50,000 units, Jetcon Corporation closed 20 cents higher at $4.70, with 5,000 shares, Knutsford Express recovered $1.80 of the $2.75 it lost on Wednesday to close at $13.80, with 10,560 stock units changing hands. Lasco Distributors ended at $6.40, with 54,180 shares, Lasco Financial finished with a loss of 30 cents at $4.60, with 5,629 stock units, Lasco Manufacturing finished trading 10 cents higher at $4, with 39,545 units, Medical Disposables ended trading with a loss of 5 cents at $5.70, with 28,000 shares. Main Event concluded trading at $5.50, with 15,048 shares, C2W Music ended trading 7 cents higher at 49 cents, with 9,550 stock units, Paramount Trading ended trading 25 cents higher at $3.40, with 12,000 units and Stationery and Office ended at $5, with 239,418 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Knutsford hits junior index with $2.75 drop

One of Knutsford Express buses.

Knutsford Express dropped $2.75 to close at $12 on Wednesday and was a major contributor the near 74 points fall in the Junior market index. Today’s fall brings the decline in three days to 176 points.
Today’s decline reduced a part of the over valuation of the stock leaving it with a PE of 22 that is still one of the higher valued junior market stocks. The stock close with just two bids amounting to 4,096 share and seems poised to head lower as there is limited buying interest, at current prices.
At the close of market activities, the prices of 6 securities advanced, 6 declined and 7 remained unchanged. The Market Index declined by 73.52 points or 2.39 percent to close at 2,998.97.
Trading ended with 19 securities changing hands, resulting in an exchange of 1,174,483 units valued at $5,458,374 compared to 801,297 units valued at $3,685,511 on Tuesday.
Trading ended with an average of 61,815 units for an average of $287,283 in contrast to 38,157 units for an average of $175,501 on Tuesday. The average volume and value for the month to date amounts to 65,350 units valued at $322,925 and 66,036 shares valued at an average of $329,835, previously. In contrast, October closed with average of 73,639 units valued at $371,926 for each security traded.
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 lower offers.
At the close of the market, AMG Packaging finished 5 cents higher at $3.15, with 42,597 shares, Cargo Handlers finished at $10.85, with 140 stock units, Caribbean Producers ended trading 15 cents higher at $3.80, with 287,001 units, Express Catering ended at $4.61, with 320 stock units, General Accident closed with a loss of 5 cents at $2.75, with 45,000 shares. Honey Bun finished 20 cents higher at $5, with 3,956 shares trading, Knutsford Express plunged $2.75 to $12, with 10,320 shares as demand had thinned out weeks ago leaving it exposed to suffer a sharp fall with the stock considered to be overpriced. Key Insurance ended 49 cents higher at $3.99, with just 100 stock units, KLE Group rose 22 cents to $2.50, with 102,500 units changing hands. Lasco Distributors finished with a loss of 10 cents at $6.40, with 251,035 shares, Lasco Financial concluded trading at $4.90, with 256,200 stock units, Lasco Manufacturing ended trading at $3.90, with 23,285 units, Medical Disposables closed 20 cents higher at $5.75, with 63,829 shares. Main Event settled with a loss of 10 cents at $5.50, with 22,000 shares, Paramount Trading traded with a loss of 15 cents at $3.15, with 15,250 units, Consolidated Bakeries finished trading with a loss of 24 cents at $2.36, with 2,000 shares, Iron Rock settled at $3.25, with 100 shares. Stationery and Office settled at $5, with 43,850 stock units and tTech ended trading at $7.40, with 5,000 shares.

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

Junior Market sheds 102 points in 2 days

Lasco Distributors rose by 23 cents but Lasco Manufacturing fell 40 cents on Tuesday.

The Junior Market of the Jamaica Stock Exchange suffered another big hit at the close of trading on Tuesday the market index shedding 53.84 points to close at 3,072.49 and bringing the loss in two days to 102 points.
Market activities ended with 21 securities changing hands, resulting in 7 securities rising, 9 declining and 5 remaining unchanged as an exchange of 801,297 units valued at $3,685,511 took place compared to 1,181,368 units valued at $5,830,463 on Monday.
Trading ended with an average of 38,157 units for an average of $175,501 in contrast to 56,256 units for an average of $277,641 on Monday. The average volume and value for the month to date amounts to 66,035 units valued at $329,835 and $73,639 units valued at $371,926 previously. In contrast, October closed with average of 74,690 units valued at $362,548 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the market, AMG Packaging traded with a loss of 40 cents to close at $3.10, with 32,595 stock units, Caribbean Producers finished with a loss of 14 cents at $3.65, with 266 units traded, Dolphin Cove ended trading 43 cents higher at $17.43, with 1,000 shares, Express Catering settled 1 cent higher at $4.61, with 34,752 stock units, Eppley finished trading at $11.50, with 1,900 units. General Accident concluded trading at $2.80, with 21,288 shares, Honey Bun settled 20 cents higher at $4.80, with 41,293 shares, Jamaican Teas concluded trading with a loss of 30 cents at $3.80, with 6,968 units, Jetcon Corporation ended trading with a loss of 30 cents at $4.50, with 8,200 shares. Knutsford Express concluded trading at $14.75, with 2,410 shares, KLE Group ended trading with a loss of 22 cents at $2.28, with 5,000 units, Caribbean Cream settled at $5.99, with 830 shares, Lasco Distributors concluded trading 23 cents higher at $6.50, with 104,920 shares. Lasco Financial finished trading 40 cents higher at $4.90, with 38,423 stock units, Lasco Manufacturing ended with a loss of 40 cents at $3.90, with 243,262 units, Medical Disposables finished trading with a loss of 27 cents at $5.55, with 16,821 shares, Main Event finished trading at $5.60, with 10,815 shares. Paramount Trading finished with a loss of 29 cents at $3.30, with 121,294 units, Consolidated Bakeries concluded trading with a loss of 21 cents at $2.60, with 3,006 shares, Stationery and Office settled 15 cents higher at $5, with 97,993 stock units and tTech settled 31 cents higher at $7.40, with 8,261 shares. In the junior market preference segment,
Prices of securities trading for the day are those at which the last trade took place.

Sagicor Group reports solid results

Sagicor Group climbed 23% for the year to September.


Sagicor Group continues to deliver reasonable growth in profit albeit from a modest increase in assets that grew 4 percent over the twelve months to September to reach $363.26 billion.
But things were not a great in all aspects of the group as the overall bottom-line growth would suggests. While the Individual Lines segment, generated profits that more than doubled that of the 2016 period, rising by 105 percent, the Employee benefits segment, delivered just 21 percent better returns than in 2016 but investment and commercial bank suffered moderate decline in profit of 2 and 6 percent respectively, while other operations turned a profit of $289 million into a loss of $197 million.
Profit for the nine-month period climbed 23 percent to $9.08 billion, than the $7.39 billion recorded last year while it grew modestly by percent 9.3 percent to $3.43 billion. Revenues for the nine months rose 18 percent to $53.53 billion and for the quarter it jumped by a strong 42 percent to $23.18 billion 2016 from $16.3 billion in 2016. The earnings per stock unit are 88 cents for the quarter and $2.34 for the year to date compared to $1.89 for last year. For the 2016 the group earned $2.90 per share which should end up around $3.50 per share by year end and importantly, even higher in 2018.
The big rise in cost has been changes in insurance and annuity liabilities moving from $2.6 billion in the 2016 quarter to $8.3 billion and from $10.8 billion to $13.3 billion in the September quarter.
Sagicor traded on Tuesday on the Jamaica Stock Exchange and ended at $37.60.

Lasco Distributors hits Junior Market again

At the close of trading, the Junior Market Index dropped 48.55 points to close at 3,126.33 as the prices of 6 securities advanced, 8 declined and 7 remained unchanged with 21 securities changing hands versus on Friday.
Trading activity on Monday with, resulted in an exchange of 1,181,368 units valued at $5,830,463 compared to 1,983,899 units valued at $10,827,572 on Friday.
Trading ended with an average of 56,256 units for an average of $277,641 in contrast to 132,260 units for an average of $721,838 on Friday. The average volume and value for the month to date amounts to $73,639 units valued at $371,926 and previously 80,157 units valued at $358,761. In contrast, October closed with average of 74,690 units valued at $362,548 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 1 stocks ended with bids higher than their last selling prices and 4 with lower offers.
At the close of the market, CAC 2000 fell 5 cents to $6.90, with 1,000 shares trading, Caribbean Flavours traded 257 shares at $12, Cargo Handlers concluded trading 5 cents higher at $10.85, with 2,000 stock units, Caribbean Producers gained 4 cents to close at $3.79, with 562,000 units, Express Catering declined 6 cents to $4.60, with 13,000 stock units changing hands. Eppley finished with a loss of 10 cents at $11.50, with 203 units, Honey Bun closed at $4.60, with 1,700 shares, Jamaican Teas ended trading at $4.10, with 1,000 units, Jetcon Corporation finished traded 4,718 shares at $4.80. Knutsford Express ended with a loss of 5 cents at $14.75, in exchanging 1,355 shares, KLE Group traded at $2.50, with 100 units, Caribbean Cream finished 49 cents higher at $5.99, with 32,300 shares, Lasco Distributors dropped 73 cents to end at $6.27, with 300,051 shares, as investors continue to respond negatively to initial court ruling on the case against Pfizer. Lasco Financial concluded trading with a loss of 50 cents at $4.50, with 47,434 stock units, Lasco Manufacturing finished trading with a loss of 20 cents at $4.30, with 9,900 units, Medical Disposables concluded trading 17 cents higher at $5.82, with 75,801 shares, Main Event rose by 10 cents to end at $5.60, with 65,139 shares. Paramount Trading closed 59 cents higher at $3.59, with 37,649 units as investors responded to the news of its expansion into the processing of chlorine and bleach. Stationery and Office fell 15 cents to close at $4.85, with 22,436 stock units trading, Sweet River traded at $3.86, with 3,225 units and tTech finished at $7.09, with 100 shares.
Prices of securities trading for the day are those at which the last trade took place

Main market drops 1,314 points – Monday

Trading on the Main Market of the Jamaica Stock Exchange on Monday closed with the market indices falling with the JSE All Jamaican Composite Index dropping 1,314.00 points to 318,833.12 and the JSE Index declining 1,197.20 points to close at 290,493.04.
Trading resulted in 24 securities changing hands, 7 advanced, 8 declined and 9 traded firm with 894,417 units valued at $17,805,863 compared to 4,118,253 units valued at $67,698,071 on Friday. There were no security trading in the US dollar market, resulting in with the index remaining at 180.67.
Trading ended with an average of 37,267 units for an average of $741,911 in contrast to 164,730 units for an average of $2,707,923 on Friday. The average volume and value for the month to date amounts to 159,395 units valued at $2,804,887 and previously, 200,104 units valued at $3,492,546. In contrast, October closed with average of 1,185,251 units at $16,528,582 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading for the main and US dollar market shows 8 stocks ended with bids higher than their last selling prices and 2 with lower offers.

Lasco Manufacturing results disappoint

There was bad news and good news for Lasco Manufacturing shareholders embodied in the September quarterly report that was just released on Friday, after trading.
The good news is that the September quarter’s revenues and profit were greater than that of the first quarter to June, but far worse than for the similar period in 2016. The other good news is that “the outlook for the full year remains positive as the evidence shows that we are heading in the right direction and measures are in place to deliver improved results,” the management reported to shareholders.
When revenues rise in most manufacturing operations there is usual increase efficiency as overhead cost tends to rise more slowly than revenues, thus resulting in an increase in gross profit margin, the reverse is also true. This can be seen from Lasco operations with gross profit margin falling form 34 percent in 2016 to 31 percent in2017. In the quarter, revenues fell 11 percent to $1.986 billion while cost of sales fell only 7 percent to $1.36 billion but Gross profit dropped 12 percent to $524 million by $131 million.

Bottle heating machine at Lasco Manufacturing.

Operating expenses grew $46 million or 15 percent to $361 million and profit after tax fell sharply to $103 million from $363 million in 2016, resulting in earnings per share of just 5 cents, down from 9 cents in 2016. For the six months period, revenues fell by 12 percent to $3.5 billion from $3.95 billion in 2016. Gross profit dropped 17 percent to $1.1 billion from $1.32 million.
Operating expenses grew $85 million or 14.5 percent to $670 million and profit after tax fell sharply to $337 million from $587 million in 2016, resulting in earnings per share of 8 cents. “The increase was primarily due to growth in marketing investments to support our brand in an increasingly competitive environment” management stated.
IC Insider.com projects profit for the year to March 2018 at 18 cents and 30 cents for 2018 of course the out turn is going to be dependent on a lot of what new products can deliver in sales.
At the end of September, Lasco has shareholders’ equity of $4.6 billion with borrowings of $1.58 billion with $265 million to be repaid within twelve months and overdraft of $353 million. Trade receivables stood at $1.76 billion with inventories of $719 million while trade payables is at $1 billion.
The stock traded on Friday at $4.60 at a PE of 25 times 2018 earnings and 16 times 2019.