The evenness of the advance decline ratio in trading on Thursday pretty much sums up trading on the Junior Market as the market index hardly moved, closing just 1.20 points down to close at 3,086.75 after the prices of 9 securities advanced, 9 declined and 4 remained unchanged.
At the close of market activities,22 securities changed hands, resulting in an exchange of just 2,324,843 units valued at $12,333,157 compared to 737,126 units valued at $3,562,822 on Wednesday.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading had 3 stocks ending with bids higher than their last selling prices and 4 with lower offers.
Trading closed with an average of just 105,675 units for an average of $560,598 in contrast to 40,951 units for an average of $197,935 on Wednesday. The average volume and value for the month to date amounts to 169,372 units valued at $694,911 and previously, 172,947 units valued at $702,449. Trading in June, ended with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, Cargo Handlers traded 106,070 shares and gained 35 cents to $10, Caribbean Cream ended trading 20,600 units, rising b 30 cents to $5.80, 
Caribbean Flavours traded with a rise of 10 cents to $12.10, with 2,900 stock units changing hands, Caribbean Producers added 30 cents in exchanging 5,000 units at $5.80, C2W Music ended at $2, with 10,200 shares traded. Derrimon Trading concluded trading with a loss of 50 cents at $20.50, with 1,500 shares, Elite Diagnostic settled 10 cents higher at $2.90, with 29,004 units, Express Catering traded with a loss of 10 cents at $7.70, with 2,538 shares changing hands, FosRich Group fell 13 cents to $2.42, trading 34,309 shares. Honey Bun concluded trading 30 cents higher at $5, with 8,300 shares changing hands, Jamaican Teas traded 6,406 stock units at $5, Jetcon Corporation closed at $4.10, with 29,139 units, Key Insurance climbed 45 cents to $3.47, exchanging just 1,000 shares. KLE Group closed at $2.90, with 72,767 shares, 
Knutsford Express ended with a loss of 5 cents at $11.55, with 3,133 shares, Lasco Distributors declined 20 cents to $3.80, trading 1,227,017 stock units, Lasco Financial finished with a loss of 10 cents at $5.10, with 2,100 units. Lasco Manufacturing settled 5 cents higher at $4.05, with 86,223 shares, Main Event ended trading with a loss of 20 cents at $7.45, after 3,079 shares crossed over the exchnage, Medical Disposables jumped 98 cents to $6, with just 200 shares being traded, while Stationery and Office closed with a loss of 50 cents at $8, as investors sold off 656,458 shares and tTech concluded trading with a loss of 15 cents at $5.25, with 16,900 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Junior Market climbs 30 points – Wednesday
Junior market volume contracting as selling volume decline.
At the close of market activities,18 securities changed hands, resulting in an exchange of just 737,126 units valued at $3,562,822 compared to only 1,131,911 units valued $4,659,737, from 23 securities changing hands on Tuesday. C2W Music traded at a 52 weeks’ high of $2.
IC bid-offer Indicator|At the end of trading, as was the case at the close on Thursday signs continue to be good for a continuation of gains when trading resumes, with a very positive Investor’s Choice bid-offer indicator reading of 8 stocks ending with bids higher than their last selling prices and 3 with lower offers.
Trading closed with an average of just 40,951 units for an average of $197,935 in contrast to 49,214 units for an average of $202,597 on Tuesday. The average volume and value for the month to date amounts to 172,947 units valued at $702,449 and previously, 179,299 units valued at $726,731. Trading in June, ended with an average of 139,543 units, valued at $671,002 for each security traded.
The average volume and value for the month to date amounts to 172,947 units valued at $702,449 and previously, 179,299 units valued at $726,731. Trading in June, ended with an average of 139,543 units, valued at $671,002 for each security traded.At the close of trading, Access Financial closed in trading 550 shares at $46.70, Caribbean Cream ended trading with a loss of 99 cents at $5.50, with 25,461 units, C2W Music ended 50 cents higher at a 52 weeks’ high of $2, with 10,200 shares, Derrimon Trading concluded trading at $21, with 27,855 stock units, Dolphin Cove climbed $1 higher at $17, trading 2,800 shares. Elite Diagnostic settled at $2.80, with 51,331 units being traded, Everything Fresh traded 106,055 shares and gained 5 cents to end at $2.
Express Catering traded 123,443 units and gained 30 cents to end at $7.80, FosRich Group finished trading with a loss of 16 cents at $2.55, exchanging 35,905 shares,
General Accident closed at $3.10, with 200,000 stock units changing hands. Honey Bun concluded trading 1,005 shares and rose 5 cents to $4.70, ISP Finance settled at $16 after $1 with 5,597 shares trading, Jamaican Teas ended trading 13,938 stock units at $5, Jetcon Corporation traded 31,940 units at $4.10. Lasco Distributors gained 5 cents to close at $4, in exchanging 58,355 stock units, Lasco Financial close with 6,069 units trading and rose 20 cents to end at $5.20, Lasco Manufacturing settled at $4, exchanging 36,120 shares and Stationery and Office closed 55 cents higher at $8.50, with 502 units changing hands.Prices of securities trading for the day are those at which the last trade took place.
Junior Market volume climbs on Tuesday
The Junior Market closed trading on Tuesday with 23 securities changing hands, resulting in an exchange of just 1,131,911 units valued $4,659,737, compared to 363,861 shares valued $1,682,885, from 24 securities changing hands on Monday.
IC bid-offer Indicator|At the end of trading, as was the case at the close on Thursday signs continue to be good for a continuation of gains when trading resumes, with a very positive Investor’s Choice bid-offer indicator reading of 7 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close of market activities, the prices of 11 securities advanced, 7 declined and 5 remained unchanged leading the Junior Market Index to gain 12.07 points to 3,057.83.
Trading closed with an average of just 49,214 units for an average of $202,597 in contrast to 15,161 units for an average of $70,120 on Monday. 
The average volume and value for the month to date amounts to 179,299 units valued at $726,731 and previously 187,823 units valued at $761,076. Trading in June, ended with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, Access Financial rose 30 cents to $46.70, in an exchange of 815 shares, Caribbean Cream climbed 49 cents to close at $6.49, trading 17,772 shares, Caribbean Flavours traded 2,000 stock units, rising 31 cents to $12, Caribbean Producers added 10 cents to close at $5.50, with 134,225 units trading, Derrimon Trading concluded trading 10,387 shares and close 50 cents higher at $21. Dolphin Cove gained 10 cents in closing at $16, with 5,000 stock units, Elite Diagnostic settled with a loss of 10 cents at $2.80, while exchanging 17,106 units, Eppley ended trading at $9.98, with 2,147 shares, Everything Fresh traded 166,000 shares and lost 5 cents to end at closing low of $1.95. Express Catering traded 38,000 shares and rose 20 cents to $7.50. FosRich Group finished trading 68,368 shares and lost 4 cents to end at $2.71, 
General Accident closed 5 cents higher at $3.10, with 19,696 stock units changing hands, GWest Corporation ended with a loss of 1 cent at $2.40, trading 244,676 units, Honey Bun concluded trading 13 cents higher at $4.65, exchanging 74,653 shares. Iron Rock finished at $3.10, with 27,100 shares, Jamaican Teas ended with a loss of 29 cents at $5, trading 17,659 stock units, Jetcon Corporation closed at $4.10, trading 2,500 units, Knutsford Express ended with a loss of 40 cents at $11.60, with 3,394 shares changing hands. Lasco Distributors concluded trading 45,118 stock units and rose 3 cents to $3.95, Lasco Financial finished exchanging 206,700 units at $5, Lasco Manufacturing settled at $4, trading 5,880 shares, Stationery and Office closed with a loss of 4 cents at $7.95, with 3,692 units and tTech concluded trading 8 cents higher at $5.40, with 19,023 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Iron Rock improvement continues
IronRock Insurance reports vastly improved results for the second quarter and the six months period to June from rising revenues and stable administrative cost.
A loss of $4 million was incurred for the June quarter and $8.6 million for the half year compared to a loss of $19 million and $46 million in June quarter and half year in 2017 respectively.
The vastly improved bottom-line flowed from gross written premium for the half year rising 63 percent to $282 million, from $173 million in 2017 and net earned premium increasing 248 percent to $80 million, up from: $23 million in 2017. For the second quarter premium rose at a slower pace of 14 percent to $127 million and net premium income moved 213 percent from $13 million to $42 million.
Operating expenses rose to $74 million from $65 million in 2017 and moved from $33 million to $36 million in the June quarter. Insurance damages claimed $38 million for the half year, up from $21 million in 2017 and increased claims from $9 million in the June 2017 quarter to $21 million in 2018, leading to reduced underwriting loss of $30 million versus $61 million in the corresponding in 2017. Other income for the period rose to $22 million from $14 million for the 2017 period and for the June quarter, moved from $8 million to $11 million. Shareholders’ equity inched up from $512 million to $514 million helped by unrealised gains of $10 million in the equity portfolio. Total assets stood at $988 million and comprise cash and investments of $602 million, while liabilities include $360 million for claims provision.
The stock last traded at $3.10 and could enjoy some gains going forward as company extend the improvement in both the top and bottom-lines.
Volume plunged on Junior Market
The Junior Market closed trading on Monday with 24 securities changing hands, resulting in an exchange of just 363,861 shares valued $1,682,885, compared to 780,012 units valued at $3,632,523, from 26 securities changing hands on Friday.
IC bid-offer Indicator|At the end of trading, as was the case at the close on Thursday signs continue to be good for a continuation of gains when trading resumes, with a very positive Investor’s Choice bid-offer indicator reading of 9 stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close of market activities, the prices of 9 securities advanced, 7 declined and 6 remained unchanged leading the Junior Market Index to decline 4.90 points to 3,045.76.
Trading closed with an average of just 15,161 units for an average of $70,120 in contrast to 30,000 units for an average of $139,712 on Friday. 
The average volume and value for the month to date amounts to 187,823 units valued at $761,076 and previously 200,496 units valued at $811,788. Trading in June, ended with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, AMG Packaging ended at $2 after rising 3 cents with 6,582 stock units changing hands, Blue Power dropped $4.01 to $35.99, in exchanging 2,000 units, Cargo Handlers settled 16 cents higher at $9.65, with 391 shares, Caribbean Flavours traded 5,000 stock units at $11.69, Caribbean Producers finished trading 13 cents higher at $5.40, as 2,124 units changing hands. Consolidated Bakeries closed trading with 20,550 shares and gained 5 cents at $2.05, C2W Music ended with a loss of 20 cents at $1.50, while exchanging 26,000 shares, Elite Diagnostic lost 6 cents to end at $2.90, trading 27,749 units, Express Catering traded with a loss of 4 cents at $7.30, exchanging 5,000 shares. Everything Fresh traded 4,173 shares after gaining 4 cents to close at $2. FosRich Group rose 4 cents to $2.75, trading 100 shares, General Accident closed at $3.05, with 7,454 stock units, 
GWest Corporation ended at $2.41, with 12,076 units, Jamaican Teas ended trading 10,000 stock units at $5.29. Jetcon Corporation traded 5,442 units and lost 5 cents at $4.10, KLE Group gained 5 cents to $2.90, with 10,000 shares, Knutsford Express ended at $12, with 200 shares, Lasco Distributors concluded trading with a loss of 28 cents at $3.92, with 16,098 stock units. Lasco Financial finished trading 39,963 units at $5, Lasco Manufacturing settled at $4, while exchanging 34,250 shares, Medical Disposables traded with a loss of 23 cents at $5.02, with 23,000 shares, Paramount Trading finished trading 10,000 stock units with a rise of 2 cents to end at $3 and Stationery and Office closed 2 cents higher at $7.99, with 58,459 units trading. In the junior market preference segment, Eppley closed at $6, with 17,250 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Junior Market pregnant for bull run
Bulls are prowling around Jamaican stocks.
The Junior Market Index rose for the second day by adding 10.31 points to close at 3,050.66 on Friday, as advancing stocks beat out declining ones.
IC bid-offer Indicator|At the end of trading, as was the case at the close on Thursday signs continue to be good for a continuation of gains when trading resumes on Monday with a very positive Investor’s Choice bid-offer indicator reading of 9 stocks ending with bids higher than their last selling prices and none with a lower offer.
Trading resulted in an exchange of 780,012 units valued at $3,632,523 compared to 2,301,169 units valued at $10,750,562 on Thursday from 26 securities changing hands, compared to 22 on Thursday. At the close of the market. the prices of 13 securities advanced, 11 declined and 2 traded unchanged.
Trading closed with an average of 30,000 units for an average of $139,712 in contrast to 104,599 units for an average of $488,662 on Thursday. 
The average volume and value for the month to date amounts to 200,496 units valued at $811,788 and previously 232,964 units valued at $869,841. June closed with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, AMG Packaging ended with a loss of 3 cents at $1.97, trading 3,318 stock units, Cargo Handlers fell 16 cents to end at a 52 weeks’ low of $9.49, in an exchange of 17,500 shares, Caribbean Cream ended trading 25 cents higher at $6, with 10,700 shares trading, Caribbean Producers fell 9 cents to $5.27, exchanging 80,000 units, C2W Music ended 18 cents higher at a 52 weeks’ high of $1.70, trading 18,500 shares. Derrimon Trading concluded trading with a loss of $2.40 at $20.50, after exchanging in 5,000 shares, Dolphin Cove finished 10 cents higher at $15.90, with 500 stock units changing hands, Elite Diagnostic settled 1 cent higher at $2.96, with 117,229 units switching owners, Eppley ended trading with a loss of 2 cents at $9.98, while exchanging 9,616 shares. Everything Fresh traded 103,042 shares at $1.96, Express Catering closed 4 cents higher at $7.34, with 98,894 shares traded, 
FosRich Group finished trading with 49,576 shares at a loss of 24 cents to $2.71, General Accident closed 2 cents higher at $3.05, after 3,835 stock units crossed the exchange platform, GWest Corporation ended 1 cent higher at $2.41, with 20,000 units. Honey Bun concluded trading with 39,515 shares and rose 1 cent to $4.52, Jamaican Teas ended trading with a loss of 1 cent at $5.29, with 1,790 stock units, Jetcon Corporation traded 12,747 units with a loss of 13 cents at $4.15, Knutsford Express ended 49 cents higher at $12, trading 2,685 shares. Lasco Distributors rose 20 cents to $4.20, with 37,200 stock units trading, Lasco Financial finished at $5, with 38,577 units, Lasco Manufacturing settled 15 cents higher at $4, in exchanging 4,068 shares, Main Event ended trading 1,240 shares, gaining 55 cents to $7.65, Medical Disposables traded 5 cents higher at $5.25, with 20,000 shares, Paramount Trading closed at $2.98, with 12,235 stock units, Stationery and Office closed with a loss of 10 cents at $7.97, as 35,280 units changed ownership and tTech concluded trading with a loss of 18 cents at $5.32, after 36,965 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Profit up 19% at Lasco Distributors
Revenues at Lasco Distributors rose just 3.5 percent for the June quarter, to $4.28 billion from $4.13 billion in 2017 but profit before taxation climbed a much stronger 17 percent in the quarter to $254 million from $217 million in 2017.
The improved profit out turn was helped by modest improvement in gross profit of $50 million and improvement in other income from $18.4 million to $42.7 million. The improvement comes off a strong period in the last fiscal year with profit rising 65 percent to $1 billion from $610 million in 2017. the 2017 profit slipped below the $717 million for 2016.
Administrative and other expenses rose faster than revenues at 5 percent, to $630 million and depreciation increased 31 percent to $30 million.
Peter Chin – Lasco Distributors’ Managing Director
Taxation was flat at $20 million, leaving net profit for the quarter rising 19 percent to $234 million. Earnings per share rose to 7 cents, from 6 cents in 2017.
Gross cash flow brought in $263 million but growth in receivables, offset by reduced inventories and reduction in amount owed to creditors, resulted in negative cash flows of $222 million and left cash and equivalent with at reduced $1.33 billion.
At the end of December, shareholders’ equity stands at $4.8 billion with borrowings at just $233 million. Net current assets ended the period $3.3 billion almost equal to Payables of $3.4 billion.
The stock traded at $4 on the Junior Market of the Jamaica Stock Exchange with a PE ratio of 11 times 2019 estimated earnings. In April the company paid out $408 million in dividends.
Losing streak broken for Junior Market
The Junior Market Index climbed 19.37 points to close at 3,040.35 on Thursday, breaking three unbroken days of decline to Wednesday.
IC bid-offer Indicator|At the end of trading, The signs were good for a continuation of gains on Friday with a very positive Investor’s Choice bid-offer indicator reading of 7 stocks ending with bids higher than their last selling prices and 1 with a lower offer.
Trading resulted in an exchange of 2,301,169 units valued at $10,750,562 compared to 1,512,347 units valued at $7,031,079 on Wednesday as 22 securities changed hands, compared to 20 on Wednesday. At the close of the market. The prices of 11 securities advanced, 5 declined and 6 traded unchanged.
Trading closed with an average of 104,599 units for an average of $488,662 in contrast to 75,617 units for an average of $351,554 on Wednesday. The average volume and value for the month to date amounts to 232,964 units valued at $869,841 and previously 223,946 units valued at $899,898. June closed with an average of 139,543 units, valued at $671,002 for each security traded.
At the close of trading, AMG Packaging ended with a loss of 1 cent at $2, trading 855 stock units, Caribbean Flavours traded 9 cents higher at $11.69, with 14,645 stock units changing hands, Caribbean Producers traded 2,746 units at $5.36, Consolidated Bakeries closed at $2, in exchanging 48,713 shares, Derrimon Trading concluded trading $2.90 higher at $22.90, with 30,366 shares. Elite Diagnostic settled at $2.95, with 37,206 units, Eppley climbed $2 to $10, trading 4,000 shares, Express Catering traded 55,414 shares at $7.30, FosRich Group exchanged 104,100 shares and rose 35 cents to $2.95. General Accident closed with a loss of 2 cents at $3.03, after 29,410 stock units traded, Honey Bun concluded trading with a loss of 51 cents at $4.51, with 76,640 shares, Jamaican Teas ended trading 3,800 stock units at $5.30, Jetcon Corporation traded 28 cents higher at $4.28, with 1,454,186 units. 
Knutsford Express ended 1 cent higher at $11.51, in an exchange of 16,510 shares, Lasco Distributors concluded trading with a loss of 20 cents at $4, in exchanging 72,070 stock units, Lasco Financial finished 10 cents higher at $5, with 80,609 units, Lasco Manufacturing settled at $3.85, with 24,731 shares. Main Event ended trading 25 cents higher at $7.10, with 10,182 shares, Medical Disposables traded 13 cents higher at $5.20, with 16,442 shares and Stationery and Office closed 7 cents higher at $8.07 trading 8,890 units. In the junior market preference segment, Eppley 8.25% concluded trading 11 cents higher at $6.11, with 171,500 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
$9.20 offered for 75% of Barita shares
Barita last traded on the JSE on Wednesday at $9.
The long awaited formal offer to acquire majority shares in Barita Investments has been released.
Cornerstone Investments Holdings is offering $9.20 per share for 334.4 million Barita shares to acquire no more and no less than 75 percent of the company. The intention is for the company to remain listed on the Jamaica Stock Exchange
The offer opens on July 26 will cost $3 billion. The company signed a lock up agreement with Rita Humphries-Lewin and Karl Lewin who have 77.5 percent of the shares to sell amounts to allow for the 75 percent acquisition as such the offer is all but done.
The company has 445.877 million shares issued contributing to shareholders’ equity of $2.86 billion or $6.40 per share.
For the March quarter comprehensive income was $165 million and $492 million for the half year or just over $1 per share and puts the purchase price at about 5 times earnings. But the acquisition is even more attractive to the buyers. Both Humphries will cease being executives that will result in cost savings. The new link up could see a more aggressive stance taken in increasing business and profit within a relatively short time frame from existing offerings as well as new ones. The Unit Trust business is a potential storehouse of huge income down the road while more can be eked out of the portfolio of investments. Investors who hold on to their shares will benefit from a promised 80 percent pay out of profit going forward.
Profit almost doubles for JSE
Profit at the Jamaica Stock Exchange (JSE) almost doubled for the half year to June with profit after tax jumping 97 percent in the June quarter to $90 million and up 88 percent for the half year to $191 million.
Revenues grew 34 percent for the quarter to $316 million and 39 percent to $666 million. Expenses rose 14 percent for the quarter to $191 million and is up 21 percent for the half year to $398 million. Earnings per share for the June quarter ended at 13 cents and 37 cents for the six months period and should end the year around 70 cents per share. The stock that trades around $7.50 is therefore attractive with eys focused on 2019 when business should increase with more listings and hopefully more business activities.
The JSE ended the quarter with total equity of $1.03 billion. Cash and investments stood at $420 million. Property and other fixed assets climbed to $410 million from $264 million.