Caribbean Cement traded at $45.200 on Tuesday.
Sale revenues at Caribbean Cement rose 6.7 percent for the quarter, to $4.46 billion from $4.18 billion in 2017 and rose 7.9 percent for the year to date, to $13.2 billion from $12.25 billion in 2017.
A $464 million foreign exchange loss hit the results for the September quarter pulling the strong 44 percent increase in operating profit to $1.2 billion from $836 million, into lower net profit of $305 million than $748 million for the prior year’s period. For the nine months to September, profit fell 28 percent to $1.3 billion from $1.8 million in 2017.
Energy cost climbed by $233 million in the quarter and $342 million year to date but other operating cost declined, with the repurchase of the mill and kiln, previously leased from Trinidad Cement with only $213 million was incurred in the third quarter versus $1.1 million in 2017. For the nine months $1.57 million was incurred compared to $3.3 billion. On-the-other-hand finance cost excluding foreign exchange loss rose to $227 million up sharply from just $11 million in 2017 in the quarter and $299 million versus $4 million year to date. Depreciation and amortisation cost rose to $342 million from $132 million in 2017 and for the nine months to $808 million from $400 million in 2017. The net effect is that the company enjoyed a savings of $500 million per quarter or $2 billion per annum as a result of the buy of the lease, but virtually none of this, benefited shareholders.
Earnings per share came out at 39 cents for the quarter and $1.54 for the nine months and should end the fiscal year ending to around $3.50, as the company reverses the foreign exchange loss in the December quarter and picks up some gains, as well as increased revenues resulting from a price increase of just over 4 percent, effective on October 22.
Carib Cement could earn $5.30 in 2019.
But IC Insider.com is forecasting a jump in earnings for 2019 around $5.30 per shares, as the plant upgrades is completed and commissioned, allowing for the elimination of costly imports that negatively impacted cost in 2018 and will see them moving back into exports.
Gross cash flow brought in $849 million but growth in receivables, inventories, addition to fixed assets, loan repayment and increased payables resulted in negative total flows thus reducing the cash on hand to $468 million. For the nine months the operations brought in $2.6 billion but working capital needs and capital transactions saw cash funds reduced from $1.67 billion to $468 million.
The sharp changes in funds is due to the repurchase of equipment that was previously leased that drove fixed assets to $23 billion from $7.7 million in 2017 and borrowing to $12 billion.
Shareholders’ equity stood at $10.26 billion with borrowings at just $12 billion and net current assets ended the period was negative $1 billion.
The stock traded at $45.20 on the Jamaica Stock Exchange with a PE ratio of 13 times 2018 earnings and sits around the centre of the market valuation. the price could double in 2019. Net asset value is $12 with the stock selling at almost 4 times book value.
Going forward, the company results should be helped from the improvement in the Jamaican economy and growth that is likely to flow from the construction sector including buildings and roads and bridges as well as from increased exports. There is also focus on cost reduction with the high energy cost being the next centre of attention.
$4.05, trading 61,379 units, Indies Pharma rose 10 cents and closed at $3.20 with 128,477 shares changing hands, 
The Junior Market Index lost 7.26 points to close at 3,307.46, on Monday with 26 securities trading, versus 22 on Friday. At the close 9 advanced, 9 declined and 8 remained unchanged. 
At the close of trading, 
rose 10 cents and closed at $3.10 with 126,444 shares changing hands, Jamaican Teas settled with a loss of 1 cent at $4.09, trading 25,926 shares. Jetcon Corporation ended trading 2,200 stock units with a loss of 30 cents at $3.50, 
The Junior Market Index rose 32.22 points to close at 3,297.35, on Thursday with just 22 securities trading, compared to 30 on Wednesday. At the close 8 advanced, 2 declined and 12 remained unchanged. 
units, Indies Pharma ended trading at $3 with 107,461 shares changing hands,
The Junior Market Index dived 44.46 points to close at 3,265.13, on Wednesday with 30 securities traded, compared to 23 on Tuesday, as 14 advanced, 9 declined and 7 remained unchanged. 
changing hands, Indies Pharma gained 5 cents to end at $3 with 8,564 shares changing hands, 
cents higher at $2.30, with 4,612 shares changing hands, 
ended with a loss of 6 cents at $3.94, in swapping 56,009 shares, 
The Junior Market Index jumped 78.84 points on Monday to close at 3,320.58, with 23 securities traded versus 26 on Friday as 8 advanced, 8 declined and 8 remained unchanged. 
finished with a loss of 1 cent at $17, trading 20,100 shares, Caribbean Producers finished trading 210 units at $6.75, Consolidated Bakeries closed with a loss of 30 cents at $2, in exchanging 60,307 shares, Derrimon Trading ended at $2.82, with 31,267 shares changing hands. Dolphin Cove concluded trading of 451 shares after rising $1 to $17, Elite Diagnostic finished with a loss of 10 cents at $3.40, with the trading of 21,494 stock units, Everything Fresh shed 20 cents in trading 111,715 shares to close at record low of $1.80, Express Catering ended trading of 5,000 shares, gaining 50 cents to $8.50, General Accident finished trading 1,503 shares at $3.95. Honey Bun ended at $4, with an exchange of 85,000 units, Indies Pharma fell 14 cents to end at $2.86 with 109,876 shares changing hands. Iron Rock concluded trading of 255,300 shares and rose 20 cents to close at $4.70, Jamaican Teas settled at $4, with 10,750
shares changing hands, Jetcon Corporation ended trading 99,501 stock units, 45 cents higher at $3.90, after hitting a 52 weeks’ low of $3.40 earlier in the trading session. KLE Group finished trading 23,665 shares with a loss of 5 cents at $3.75, Knutsford Express closed at $12, in exchanging 1,222 shares, Lasco Distributors ended with a loss of 6 cents at $4, trading 90,053 shares, Lasco Financial concluded trading 15 cents higher at $5.45, with 63,985 stock units. Lasco Manufacturing finished trading 3,400 units after rising 76 cents higher to $3.76, Main Event settled with a loss of 10 cents at $5.95, with 31,000 shares changing hands, Paramount Trading closed 30 cents higher at $2.50, exchanging 1,000 shares and Stationery and Office finished trading 27,868 stock units at $9.50.
number 6 in 2017, while still delivering a 21.5 percent return, down slightly from 26.7 percent in 2016. Funds delivering good performance over longer periods are far better guide in selecting a unit trust for investment.