Junior Market still consolidating – Monday

Junior Market has been consolidating for most of 2018, after peaking in mid 2017.

The Junior Market Index slipped just 0.19 points to close at 2,931.12 on Monday, from 18 securities changing hands, leading to 7 advancing, 7 falling and 4 remaining unchanged.
Trading ended with an exchange of 1,101,351 units valued at $3,914,113.37, compared with 1,215,407 units valued at $4,590,122 from 21 securities changing hands on Friday.
Market activity ended with an average of 61,186 units for an average of $217,451 compared to an average of 57,877 units for an average of $218,577 on Friday. The average volume and value for the month to date, amounts to 139,878 units at $592,290, compared to an average of 143,548 units at $609,769 on the previous trading day. February closed with an average of 338,697 units at an average value of $1,495,774 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 5 stocks ending with the bid higher than the last selling price and 6 with lower offers.
At the close of the market, AMG Packaging ended trading at $2, with 166,225 stock units, CAC 2000 finished market activity at $8.70, with 8,290 shares, Caribbean Producers finished trading with a loss of 3 cents at $4.67, as 28,364 units changed hands, Elite Diagnostic settled 2 cents higher at $3.20, with 400,400 units, Express Catering traded 45 cents higher to $4.95, with 266,510 shares, after the company reported third quarter results showing a 166 percent jump in profits. FosRich Group finished trading with a loss of 25 cents at $2.40, with an exchange of 13,695 shares, General Accident closed with a loss of 6 cents at $3.13, as 3,000 stock units traded, Honey Bun concluded market activity with a loss of 2 cents at $4.73, with 34,250 shares, Jamaican Teas ended trading 6 cents higher at $4.51, with 4,901 stock units. Jetcon Corporation added 5 cents to close at $4.25, with 50,889 units, Knutsford Express ended with a loss of 48 cents at $14, with 961 shares trading, Lasco Distributors concluded trading 5 cents higher at $4.05, with 46,436 stock units, Lasco Financial finished with a loss of 8 cents at $4.92, trading just 188 units. Lasco Manufacturing settled with a loss of 20 cents at $4, with 9,350 shares, Main Event ended trading at $5.81, with 2,000 shares, Medical Disposables closed 18 cents higher at $5, with 38,254 shares and Stationery and Office closed at $5.50, while exchanging 8,989 units. In the junior market preference segment, Derrimon Trading closed 14 cents higher at $2.14, with 18,649 shares, changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market jumps on Friday

Blue Power jumped $9 to $42.

The Junior Market Index jumped 47.32 points to close at 2,931.31 on Friday with 21 securities changing hand as 11  advanced, 6 declined and 4 remained unchanged.
Trading ended with an exchange of 1,215,407 units valued at $4,590,122, compared with 2,139,884 units at $8,911,130 from 25 securities changing hands on Thursday.
Trading ended with an average of 57,877 units for an average of $218,577 compared to an average of 85,595 units for an average of $356,445 on Thursday. The average volume and value for the month to date, amounts to 143,548 units at $609,769, compared to an average of 148,477 units at $632,276 on the previous trading day. February closed with an average of 338,697 units at an average value of $1,495,774 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 1 stock ending with the bid higher than the last selling price and 6 with lower offers.
At the close of the market, Access Financial closed $1 higher at $51, with 4,205 shares, AMG Packaging ended at $2, with 7,000 stock units changing hands, Blue Power jumped $9 to $42, with 2,000 units, Caribbean Producers finished trading 3 cents higher at $4.70, with 22,000 units, Consolidated Bakeries closed 4 cents higher at $2.04, with 2,000 shares. Derrimon Trading climbed $1.49 to $9.49, with 20,000 shares, Elite Diagnostic settled 6 cents higher at $3.18, with 339,242 units, Express Catering traded with a loss of 10 cents at $4.50, with 69,402 shares, FosRich Group finished trading at $2.65, with 355,416 shares. GWest Corporation ended with a loss of 5 cents at $2.75, trading 6,497 units, Honey Bun concluded trading 45 cents higher at $4.75, with 15,070 shares, Iron Rock finished with a loss of 10 cents at $3, with 23,600 shares, Jamaican Teas gained 44 cents to end at $4.45, with 2,825 stock units. Jetcon Corporation traded 2 cents higher at $4.20, with 9,800 units, Lasco Distributors concluded trading at $4, with 206,524 stock units changing hands, Lasco Financial rose 20 cents to $5, with 50,557 units, Lasco Manufacturing rose 21 cents to $4.20, with 55,884 shares. Main Event ended trading 19 cents down at $5.81, with 11,335 shares, Medical Disposables fell 3 cents to $4.82, with 10,300 shares, Stationery and Office closed at $5.50, with 1,650 units and tTech concluded trading with a loss of 85 cents at $5.15, with 100 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market lost ground on Thursday

Junior Market activity resulted in with just 9 security advancing, 9 declining and 7 remaining unchanged, with the Junior Market Index declined by 20.97 points to close at 2,883.99.
Trading ended on Thursday with an exchange of 2,139,884 units valued at $8,911,130 from 25 securities, compared with 994,247 units valued at $3,815,366 from 20 securities changing hands on Wednesday.
Trading ended with an average of 85,595 units for an average of $356,445 compared to an average of 49,712 units for an average of $190,768 on Wednesday. The average volume and value for the month to date, amounts to 148,477 units at $632,276, compared to an average of 153,101 units at $652,558 on the previous trading day. February closed with an average of 338,697 units at an average value of $1,495,774 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 4 stocks ending with the bid higher than the last selling price and 7 with lower offers.
At the close of the market, Access Financial closed with a loss of $1 at $50, with 100 shares, AMG Packaging ended at $2, with 150,000 stock units changing hands, Caribbean Cream ended trading at $5.99, with 8,000 shares, Caribbean Flavours traded at $10.90, with 2,600 stock units, Caribbean Producers finished trading 22 cents higher at $4.67, with 9,740 units. Consolidated Bakeries closed with a loss of 4 cents at $2, with 1,000 shares, Elite Diagnostic gained 1 cent and closed at $3.12, with 116,140 units, Eppley ended trading 14 cents higher at $10.14, with 300 shares, Express Catering traded with a rise of 10 cents at $4.60, with 63,082 shares. FosRich Group finished trading 331,255 shares and gained 25 cents to $2.65, General Accident closed at $3.19, with 4,591 stock units, GWest Corporation ended 10 cents higher at $2.80, with 17,000 units changing hands, Honey Bun concluded trading with a loss of 9 cents at $4.30, with 32,617 shares. Iron Rock finished 5 cents higher at $3.10, with 28,125 shares, Jamaican Teas ended trading with a loss of 49 cents at $4.01, with 48,257 stock units, Jetcon Corporation closed with a loss of 7 cents at $4.18, with 9,600 units, KLE Group fell 3 cents to $2.30, with 200 shares. Knutsford Express ended at $14.48, with 4,477 shares, Lasco Distributors concluded trading at $4, with 48,710 stock units, Lasco Financial finished with a loss of 20 cents at $4.80, with 1,037,165 units, Lasco Manufacturing settled with a loss of 21 cents at $3.99, with 38,735 shares. Main Event ended trading 19 cents higher at $6, with 121,618 shares and Stationery and Office closed at $5.50, with 54,848 units. In the Junior Market preference segment, Eppley 8.25% ended with a loss of 29 cents at $7, with 8,324 stock units, Eppley 9.5% finished 80 cents higher at 52 weeks’ high of $6.25, with 3,400 shares, changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market climbs – Wednesday

Junior Market ended trading on Wednesday with an exchange of just 994,247 units valued at $3,815,366 from 20 securities changing hands, compared with 4,609,834 units valued at $19,615,022 from 18 securities on Tuesday.
Market activity resulted in with just 9 security advancing, 4 declining and 7 remaining unchanged, with the Junior Market Index advanced 32.75 points to close at 2,904.96.
Trading ended with an average of 49,712 units for an average of $190,768 compared to an average of 256,102 units for an average of $1,089,723 on Tuesday. The average volume and value for the month to date, amounts to 153,101 units at $652,558, compared to an average of 191,316 units at $681,419 on the previous trading day. February closed with an average of 338,697 units at an average value of $1,495,774 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 5 stocks ending with the bid higher than the last selling price and 6 with lower offers.
At the close of the market, Access Financial closed at $51, with 839 shares, CAC 2000 finished with a loss of 30 cents at $8.70, trading 7,644 shares, Caribbean Flavours traded 2,490 stock units at $10.90, Caribbean Producers finished trading with a loss of 10 cents at $4.45, with 17,550 units, Consolidated Bakeries closed with a loss of 1 cent at $2.04, while trading 1,000 shares. Elite Diagnostic settled 1 cent higher at $3.11, with 310,018 units, Express Catering traded 2,450 shares at $4.50, FosRich Group finished trading with a loss of 11 cents at $2.40, in exchanging 56,934 shares, General Accident closed 29 cents higher at $3.19, with 700 stock units. GWest Corporation ended at $2.70, with 210,721 units, Honey Bun concluded trading 9 cents higher at $4.39, with 19,360 shares, Jamaican Teas rose 50 cents to $4.50, with a mere 105 stock units, Jetcon Corporation traded 5 cents higher at $4.25, with 11,572 units. Lasco Distributors concluded trading at $4, with 73,705 stock units, Lasco Financial finished 30 cents higher at $5, with 67,740 units, Lasco Manufacturing gained 21 cents to end at $4.20, with 10,720 shares, Medical Disposables traded at $4.85, with 24,000 shares. Stationery and Office closed at $5.50, with 166,199 units and tTech climbed $1 higher to $6, with 500 shares. In the junior market preference segment, Eppley 8.75% finished trading at $6, with 10,000 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Main Event Q1 profit climbs 41%

Main Event Q1 profit rise 41% to $33m.

The 2017 listed Main Event, enjoyed a bounce of 41 percent in profit for the January 2018 quarter, to $33 million from $23 million in 2017, from sale revenues that rose just 8.6 percent, to $361 million from $333 million in 2016.
Much of the success for the period arose from an improvement in profit margin that rose to 44 percent from 40 percent in the 2017, as input cost remained flat at $201 million. Operating profit rose 22 percent in the quarter to $161 million from $132 million.
Depreciation climbed 40 percent to $21 million, Marketing and sales expenses increased by 132 percent to just $7.8 million, Administrative expenses moved up by 13 percent to $97 million, from $86 million in 2017. Finance cost declined in the quarter, to $3.4 million from $4 million in 2017.
Earnings per share came out at 11 cents for the quarter up from 10 cents in January 2017.
While revenues and profit grew in the quarter, not all areas performed as well. According to the Directors’ report accompanying the quarterly, revenues “was driven by expansion in our core business of entertainment and promotions, with increased opportunities coming from our major clients and increased revenue opportunities from our growing rental and décor equipment base. Revenues from audio, multimedia and digital signage were average.”
Gross cash flow brought in $53 million but growth in receivables, inventories, addition to fixed assets offset by net loan inflows resulted in net outflows of $38 million leaving cash funds at $23 million for the quarter.
At the end of December, shareholders’ equity stands at $479 million with borrowings at just $147 million. Net current assets ended the period $115 million well over Payables of $93 million.
The stock traded at $5.81 on the Junior Market of the Jamaica Stock Exchange with a PE ratio of 10.6 times 2018 earnings with room for the price to grow.

Falling Junior Market stocks beat advancers – Tuesday

Caribbean Producers traded 3m shares on Tuesday.

Junior Market ended trading on Tuesday with an exchange of 4,609,834 units valued at $19,615,022 from 18 securities changing hands, compared with 12,328,672 units valued at $54,893,603 from 20 securities on Monday.
Caribbean Producers that accounted for 11 million on Monday traded the most shares on Tuesday with 3 million of the total shares exchanged at the close on Tuesday.
Market activity resulted in with just 4 security advancing, 9 declining and 5 remaining unchanged, with the Junior Market Index declining by a mere 0.02 points to close at 2,872.21.
Trading ended with an average of 256,102 units for an average of $1,089,723 compared to an average of 587,080 units for an average of $2,613,981 on Monday. The average volume and value for the month to date, amounts to 191,316 units at $681,419, compared to an average of 153,808 units at $657,083 on the previous trading day. February closed with an average of 338,697 units at an average value of $1,495,774 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 7 stocks ending with the bid higher than the last selling price and 4 with lower offers.
At the close of the market, AMG Packaging ended with a loss of 20 cents at $2, with 258,488 stock units, Caribbean Flavours traded at $10.90, with 24,650 shares changing hands, Caribbean Producers finished trading with a loss of 5 cents at $4.55, with 3,000,000 units, Derrimon Trading concluded trading 50 cents higher at $8, with 772 shares, Elite Diagnostic settled with a loss of 5 cents at $3.10, with 566,108 units. Express Catering traded 5 cents higher at $4.50, with 54,357 shares, FosRich Group finished trading at $2.51, with 25,002 shares, GWest Corporation ended with a loss of 5 cents at $2.70, with 111,347 units, ISP Finance settled at $13.50, with 1,500 shares. Jetcon Corporation traded 7 cents higher at $4.20, with 12,000 units, Knutsford Express ended 48 cents higher at $14.48, with 17,439 shares, Lasco Distributors concluded trading with a loss of 5 cents at $4, with 12,500 stock units, Lasco Financial finished with a loss of 1 cent at $4.70, with 404,693 units. Lasco Manufacturing settled at $3.99, with 62,830 shares, Main Event ended trading with a loss of 19 cents at $5.81, with 6,468 shares, Medical Disposables traded with a loss of 5 cents at $4.85, with 8,465 shares, Paramount Trading finished trading with a loss of 5 cents at $3.15, with 35,021 stock units and Stationery and Office closed at $5.50, with 8,194 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market slips again – Monday

Junior Market trading jumped on Monday with an exchange of 12,328,672 units valued at $54,893,603 from 21 securities compared with 2,993,806 units valued at $14,194,427 changing hands from 20 securities on Friday.
Caribbean Producers accounted for 11 million of the total shares exchanged at the close of the day.
Market activity resulted in with just 4 security advancing, 10 declining and 7 remaining unchanged, with the Junior Market Index declining 9.64 points to close at 2,872.23.
Trading ended with an average of 587,080 units for an average of $2,613,981 compared to an average of 149,690 units for an average of $709,721 on Friday. The average volume and value for the month to date, amounts to 153,808 units at $657,083, compared to an average of 121,429 units at $510,838 on the previous trading day. February closed with an average of 338,697 units at an average value of $1,495,774 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 3 stocks ending with the bid higher than the last selling price and 6 with lower offers.
At the close of the market, Access Financial closed with a loss of $5 at $51, with 1,160 shares, AMG Packaging ended 20 cents higher at $2.20, with 47,421 stock units, CAC 2000 ended trading at $9, with 890 shares, Caribbean Producers finished with a loss of 7 cents in closing at $4.60, with 11,036,816 units, Consolidated Bakeries closed 5 cents higher at $2.05, with 10,000 shares. Dolphin Cove finished at $18, with 500 stock units, Elite Diagnostic settled with a loss of 5 cents at $3.15, with 464,986 units, Eppley ended trading at $10, with 60,000 ordinary shares changing hands, Express Catering traded at $4.45, with 63,210 shares. FosRich Group finished trading with a loss of 7 cents at $2.51, with 6,650 shares, General Accident closed at $2.90, with 100,000 stock units, Honey Bun concluded trading at $4.30, with 27,501 shares, Jamaican Teas concluded trading with a loss of 50 cents at $4, with 23,500 stock units. Jetcon Corporation traded with a loss of 2 cents at $4.13, with 231,044 units, Knutsford Express ended $1.86 higher at $14, with 900 shares, Lasco Distributors concluded trading 6 cents higher at $4.05, with 83,442 stock units, Lasco Financial fell 9 cents to close at $4.71, with 35,601 units. Lasco Manufacturing settled with a loss of 21 cents at $3.99, with 29,425 shares, Medical Disposables traded at $4.90, with 381 shares, Stationery and Office closed with a loss of 1 cent at $5.50, with 89,997 units and tTech concluded trading with a loss of 20 cents at $5, with 15,248 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market slips again – Friday

The Junior Market ended trading on Friday with a 11.7 points drop in the market index to 2,881.87 with 20 securities changing hands compared to 23 trading on Thursday.
Market activity resulted in with just 6 security advancing, 6 declining and 8 remaining unchanged, with an exchange of 2,993,806 units valued at $14,194,427. On Thursday, trading ended with 1,983,814 units valued at $13,150,229 changing hands.
Trading ended with an average of 149,690 units for an average of $709,721 compared to an average of 86,253 units for an average of $571,749 on Thursday. The average volume and value for the month to date, amounts to 121,429 units at $510,838, compared to an average of 119,263 units at $495,598 on the previous trading day. February closed with an average of 338,697 units at an average value of $1,495,774 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 5 stocks ending with the bid higher than the last selling price and 4 with lower offers.
At the close of the market, AMG Packaging ended with a loss of 5 cents at $2, exchanging 87,325 stock units, CAC 2000 finished at $9, with 1,030 shares, Caribbean Cream ended trading with a loss of 98 cents at $5.99, with 1,000,000 shares, Caribbean Producers finished trading 27 cents higher at $4.67, with 30,000 units, Derrimon Trading concluded trading at $7.50, with 10,000 shares. Elite Diagnostic settled 14 cents higher at $3.20, with 287,518 units, Express Catering traded with a loss of 5 cents at $4.45, with 185,882 shares, FosRich Group finished trading 8 cents higher at $2.58, with 14,393 shares, Honey Bun lost 50 cents in closing at $4.30, with 1,777 shares. Jetcon Corporation traded at $4.15, with 33,951 units, Key Insurance finished trading at $4.10, with 50,000 shares, Knutsford Express ended 14 cents higher at $12.14, with 3,877 shares, Lasco Distributors concluded trading with a loss of 1 cent at $3.99, with 27,220 stock units. Lasco Financial finished with a loss of 20 cents at $4.80, with 1,119 units, Lasco Manufacturing settled 20 cents higher at $4.20, with 927,141 shares, Main Event ended trading at $6, with 695 shares, Medical Disposables traded 10 cents higher at $4.90, with 1,510 shares. Paramount Trading closed at $3.20, while 210 stock units were exchanged, Stationery and Office closed at $5.51, with 329,491 units and tTech concluded trading at $5.20, with 667 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

CWC CALA gets 1.6B C&W Jamaica shares

parent company of C&W Jamaica now owns over 91% of the shares.

CWC CALA Holdings now controls 91.73 percent of the ordinary stock units of Cable & Wireless Jamaica following an offer made on December 28, last year, to purchase 3,027,138,546 ordinary stock units owned by minority shareholders of J$1.45 per stock unit.
Acceptance was received from 3,184 shareholders who tendered 1,639,751,868 ordinary stock units but 3,180,025 units were deemed invalid reducing the amounted accepted to 1,636,571,843 units representing approximately 54.17 percent of the ordinary stock units held by the minority shareholders and approximately 9.7 percent of all the ordinary stock units issued.
With the parent company now holding over 90 percent no mention was made about compulsory acquisition of the rest but IC Insider.com has been informed in January that it is the intension of the parent company to have the company delisted.
Cable and Wireless reported operating profit of $5.134 billion dollars before exceptional item of $112 million and finance charge of $5.2 billion and a small of loss of $138 million. Profit for the December quarter before taxation charge was $600 million and $700 million excluding the exceptional item.
Most importantly, based on the method on which the bulk of interest rates are computed, the cost for 2018 assuming no major increase in the amount of borrowing, then the rate which averaged over just over 8 percent in 2017 should fall to around 6 percent in 2018 and cut around $1.3 billion from the interest bill thus ensuring that this year will be profitable. The actual formula is based on 2.79 percent above the weighted average six months Treasury bill auctioned immediately prior to May 11 and November 11. According to the 2017 audited accounts, the rate applied was 7.68 percent at the end of last year versus 8.62 percent that was applicable up to May last year. With the six months Treasury bill rate just above 3 percent currently, assuming no shift in the policy then savings will be in excess of 2 percentage points for 2018.
Investors in the company were never provided with the information on the full 2017 year’s results or given any indication about what could be expected for 2018 and beyond. The rules of the capital market does not really protect the investing public and this is not a satisfactory manner in operating a stock market.

Only 1 stock rise on Junior Market – Thursday

The Junior Market ended trading on Thursday with a 5.97 points decline in the market index to 2,893.64 with 23 securities changing hands compared to the same number trading on Wednesday and with just 1 stock rising.
Market activity also resulted in 10 securities declining and 12 remaining unchanged, with an exchange of 1,983,814 units valued at $13,150,229. On Wednesday, trading ended with 7,801,377 units valued at $30,185,618 changing hands.
Trading ended with an average of 86,253 units for an average of $571,749 compared to an average of 339,190 units for an average of $1,312,418 on Wednesday. The average volume and value for the month to date, amounts to 119,263 units at $495,598, compared to an average of 122,453 units at $488,239 on the previous trading day. February closed with an average of 338,697 units at an average value of $1,495,774 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 4 stocks ending with the bid higher than the last selling price and 4 with lower offers.
At the close of the market, AMG Packaging ended at $2.05, with 47,600 stock units, Blue Power concluded trading with a loss of 1 cent at $33, with 7,000 units, CAC 2000 finished at $9, with 7,300 shares, Caribbean Cream ended trading with a loss of 1 cent at $6.97, with 608 shares, Caribbean Flavours traded at $10.90, with 3,000 stock units. Caribbean Producers finished trading with a loss of 22 cents at $4.40, with 142,819 units, Consolidated Bakeries closed at $2, with 1,100 shares, Elite Diagnostic settled 4 cents higher at $3.06, with 147,535 units, Eppley ended trading with a loss of 15 cents at $10, with 23,700 shares. Express Catering traded with a loss of 20 cents at $4.50, with 11,000 shares, FosRich Group finished trading with a loss of 18 cents at $2.50, with 10,284 shares, GWest Corporation ended with a loss of 14 cents at $2.75, with 56,984 units, Honey Bun concluded trading at $4.80, with 12,065 shares. Jetcon Corporation traded at $4.15, with 5,630 units, Knutsford Express ended with a loss of $2 at $12, with 631,245 shares changing hands, Lasco Distributors concluded trading at $4, with 34,450 stock units, Lasco Financial finished at $5, with 800 units. Lasco Manufacturing settled at $4, with 665,342 shares, Main Event ended trading at $6, with 30,800 shares, Medical Disposables traded with a loss of 10 cents at $4.80, with 900 shares, Paramount Trading finished trading at $3.20, with 123,652 stock units and Stationery and Office closed with a loss of 9 cents at $5.51, with 5,000 units. In the junior market preference segment, Derrimon Trading closed at $2, with 15,000 shares, changing hands.
Prices of securities trading for the day are those at which the last trade took place.