The Jamaica Stock Exchange Main Market continues it 2024 rally in ending higher on Friday, with the volume of stocks traded declining 76 percent and the value 59 percent lower than on Thursday, with trading in 58 securities compared with 57 on Thursday, with prices of 22 stocks rising, 20 declining and 16 ending unchanged.
Trading ended with 9,234,717 shares trading at $63,291,889 compared with 38,589,987 units at $156,062,036 on Thursday.
Trading averaged 159,219 shares at $1,091,239 compared to 677,017 units at $2,737,930 on Thursday and month to date, an average of 286,472 units at $1,291,067 compared to 299,628 units at $1,311,727 on the previous day and January with an average of 265,804 units at $2,438,118.
Wigton Windfarm led trading with 3.91 million shares for 42.3 percent of total volume followed by Transjamaican Highway with 1.12 million stock units for 12.1 percent of the day’s trade, JMMB Group with 1.12 million units for 12.1 percent of market share and Sagicor Select Financial Fund with 1.10 million stocks for 11.9 percent of the total volume.
The All Jamaican Composite Index rose 1,293.92 points to 373,276.24, the JSE Main Index popped 807.06 points to close at 335,848.38, up 3.1 percent for the year to date and the JSE Financial Index rallied 0.42 points to close at 72.08.
The Main Market ended trading with an average PE Ratio of 13.7.The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Barita Investments popped 30 cents to end at $71.40 in swapping 373 stock units, Berger Paints climbed 38 cents to $6.58 with investors trading 153 shares, Caribbean Cement increased $1.02 to $57 in an exchange of 20,436 units. Eppley shed $1 and ended at $34.99, with 4,347 stocks crossing the market, GraceKennedy sank 30 cents to close at $75.30 in an exchange of 17,930 units, Guardian Holdings jumped $19.99 to $370 with traders dealing in 1,950 stocks. Jamaica Producers gained 84 cents and ended at $23.94, with 235 shares crossing the exchange, Margaritaville rallied $1.14 to close at $17.48 with a transfer of 101 stock units,
Massy Holdings skidded $5.50 to end at $91.50 while trading 6,203 shares. Pan Jamaica advanced $1.01 in closing at $51.51 as 29,192 units passed through the market, Sagicor Group rose 50 cents to $44 as investors exchanged 5,201 stocks, Scotia Group rallied $1 to close at $46 closing with an exchange of 57,369 stock units. Stanley Motta increased 70 cents to end at $7 in trading 18,743 shares and Supreme Ventures popped 30 cents to $26.50 after exchanging 53,468 stocks.
In the preference segment, 138 Student Living preference share fell $32.55 and ended at $184.45 with investors dealing in 12 units and Productive Business Solutions 9.75% preference share dropped $17.94 to $101.66 after an exchange of 50 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading drops on the JSE USD Market
Trading on the Jamaica Stock Exchange US dollar market ended on Friday, with the volume of stocks exchanged declining 78 percent after 40 percent fewer US dollars changed hands compared with Thursday, resulting in trading in 10 securities, similar to market outcome on Thursday with prices of six rising, two declining and two ending unchanged.
The market closed with an exchange of 178,798 shares for US$56,398 compared to 827,138 units at US$94,452 on Thursday.
Trading averaged 17,880 units at US$5,640 down from 82,714 shares at US$9,445 on Thursday, with a month to date average of 52,146 shares at US$6,815 compared with 57,260 units at US$6,990 on the previous day and January with an average of 42,169 units for US$5,037.
The US Denominated Equities Index rose 0.21 points to wrap up trading at 254.01.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.9. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, First Rock Real Estate USD share ended at 4.7 US cents after an exchange of 63 units, Proven Investments had investors trading 112,086 stocks at 14.5 US cents, Sterling Investments increased 0.2 of a cent to 1.7 US cents after a transfer of 118 shares. Sygnus Credit Investments fell 0.4 of a cent and ended at 8.5 US cents with traders dealing in 15,912 stock units, 
Sygnus Real Estate Finance USD share inched 1 cent higher to close at 8 US cents in an exchange of 15 shares and Transjamaican Highway popped 0.08 of a cent to 1.91 US cents, with 29,133 stock units crossing the market.
In the preference segment, JMMB Group US8.5% preference share gained 3 cents to end at US$1.08 in trading 10,077 stock units, JMMB Group 5.75% rose 1.15 cents to US$1.55 after 10,309 units passed through the market, Productive Business Solutions 9.25% preference share shed 1 cent and ended at US$11.05 with investors transferring 85 shares and Sygnus Credit Investments US 8% advanced 4 cents to close at US$10.54, with 1,000 stock units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market rallied on Friday
Trading closed on the Junior Market of the Jamaica Stock Exchange on Friday, with a 29 percent decline in the volume of stocks traded at a 15 percent lower value than Thursday, following trading in 42 securities compared with 41 on Thursday and ending with prices of 21 rising, 14 declining and seven closing unchanged.
Investors traded 4,262,868 shares for $11,405,667 compared with 6,026,066 units at $13,427,737 on Thursday.
Trading averaged 101,497 shares at $271,563, compared to 146,977 units at $327,506 on Thursday. Trading for the month to date, averaged 200,192 units at $479,266 down from 209,968 stocks at $499,840 on the previous day and January with an average of 175,081 units at $401,738.
Spur Tree Spices led trading with 904,399 shares followed by Image Plus with 904,064 units and Mailpac Group with 458,730 stocks for 10.8 percent market share.
At the close of trading, the Junior Market Index gained 4.31 points to culminate at 3,812.89.
The Junior Market ended trading with an average PE Ratio of 13.4, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Access Financial declined by 8 cents to end trading at $22.60 after a transfer of 4,253 stocks, AMG Packaging popped 28 cents to close at $3 with investors trading 26,000 units, Consolidated Bakeries fell 23 cents and ended at $1.98, with 120,000 shares passing through the exchange. Fontana skidded 23 cents in closing at $10.25 with a transfer of 166,963 stock units, Honey Bun advanced 39 cents to close at $6.69 after investors ended up trading 16,191 shares, 
KLE Group rose 14 cents to $2.39 after exchanging 92 stocks. Knutsford Express gained 8 cents in closing at $12.38, with two units crossing the market, Lasco Distributors rallied 13 cents and ended at $4 in trading 22,865 stock units, Limners and Bards increased 15 cents to end at $1.62 after 853 shares passed through the market. Lumber Depot popped 10 cents to close at $2.30 while exchanging 196,403 units, Paramount Trading sank 21 cents to $1.27 with traders dealing in 2,814 stocks and tTech rose 49 cents to close at $2.49 in an exchange of just one stock unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for all JSE markets
The Main Market continued to rise in trading on Friday at the close of the Jamaica Stock Exchange while the Junior Market and JSE USD market inched a few points higher as trading ended with the number and the value of stocks hanging hands falling compared with the previous trading day, resulting in prices of 41 shares rising and 29 declining.
At the close of trading on Friday, the JSE Combined Market Index climbed solidly by 1,293.91 points to 373,276.24, the All Jamaican Composite Index rallied by 1,293.92 points to 373,276.24, the JSE Main Index popped 807.06 points to end at 335,848.38. The Junior Market Index gained 4.31 points to 3,812.89 and the JSE USD Market Index popped 0.21 points to end the day at 254.01.
At the close of the market, 13,676,383 shares were exchanged in all three markets, down from 45,443,191 units on Thursday, with the value of stocks traded on the Junior and Main markets amounting to $74.93 million, compared with $169.49, million yesterday and the JSE USD market closed with an exchange of 178,798 shares for US$56,398 compared to 827,138 units at US$94,452 on Thursday.
Trading in the Main Market was dominated by Wigton Windfarm led trading with 3.91 million shares followed by Transjamaican Highway with 1.12 million units, JMMB Group ended with 1.12 million units and Sagicor Select Financial Fund with 1.10 million stocks.
In the Junior Market, Spur Tree Spices led trading with 904,399 shares followed by Image Plus with 904,064 units and Mailpac Group with 458,730 stock units.
At the close of trading on the Main Market, Caribbean Cement increased $1.02 to end at $57, Guardian Holdings rose $19.99 to $370, Jamaica Producers gained 84 cents and ended at $23.94, Margaritaville rallied $1.14 to close at $17.48, Pan Jamaica advanced $1.01 in closing at $51.51 and Scotia Group rallied $1 to close at $46
At the close of the Main Market, Eppley shed $1 and ended at $34.99 and Massy Holdings skidded $5.50 to end at $91.50.
At the end of Junior Market trading, AMG Packaging popped 28 cents to $3, Honey Bun advanced 39 cents to close at $6.69 and tTech rose 49 cents to close at $2.49, as Consolidated Bakeries fell 23 cents and ended at $1.98, Fontana skidded 23 cents in closing at $10.25 and Paramount Trading sank 21 cents to $1.27.
In the preference segment, 138 Student Living preference share fell $32.55 and ended at $184.45 and Productive Business Solutions 9.75% preference share dropped $17.94 to $101.66.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 214. on 2022-23 earnings and 14.6 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide for investors to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
Trading jumps on JSE USD Market
The Jamaica Stock Exchange US dollar market ended on Thursday, with the volume of stocks traded rising 358 percent after 78 percent more US dollars entered the market than on Tuesday, resulting in trading in 10 securities, up from eight on Tuesday with prices of three rising, four declining and three ending unchanged.
The market closed with an exchange of 827,138 shares for US$94,452 compared with 180,495 units at US$53,094 on Tuesday.
Trading averaged 82,714 shares at US$9,445 up from 22,562 stock units for US$6,637 on Tuesday, with a month to date average of 57,260 shares at US$6,990 compared with 52,795 units at US$6,559 on the previous trading day and January that ended with an average of 42,169 units for US$5,037.
The US Denominated Equities Index lost 1.80 points to wrap-up trading at 253.80.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.8. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, MPC Caribbean Clean Energy fell 3.78 cents in closing at 57 US cents after an exchange of only one share, Proven Investments increased 1 cent to 14.5 US cents with 280,623 units clearing the market, Sterling Investments declined 0.11 of a cent to end at 1.5 US cents in switching ownership of 145,883 shares. Sygnus Credit Investments ended at 8.9 US cents, with 8 stock units crossing the exchange,
Sygnus Real Estate Finance USD share popped 0.3 of a cent to close trading at 7 US cents with an exchange of 4,065 stock units and Transjamaican Highway shed 0.17 of a cent to 1.83 US cents, after 358,974 units crossed the market.
In the preference segment, JMMB Group US8.5% preference share remained at US$1.05 while exchanging 36,318 stocks, JMMB Group 5.75% lost 27.15 cent and ended at a 52 week low of US$1.5385 after closing with trading of 741 stock units, Productive Business Solutions 9.25% preference share ended at US$11.06 with investors swapping 410 shares and Sygnus Credit Investments E 8.5% gained 74 cents to end at US$11.74 in an exchange of 115 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market slips on Thursday
Declining stocks edged out rising ones at the close of trading on the Junior Market of the Jamaica Stock Exchange Thursday, following an increase in trading activity resulting from a 74 percent rise in the volume of stocks traded, valued 51 percent more than for trading on Tuesday following activity in 41 securities compared with 45 on Tuesday and ending with prices of 14 rising, 16 declining and 11 closing unchanged.
The market closed trading of 6,026,066 shares for $13,427,737 compared with 3,460,585 stock units at $8,913,356 on Tuesday, following release of several results of companies for the December quarter prior to the start of trading.
Trading averaged 146,977 shares at $327,506, compared with 76,902 units at $198,075 on Tuesday with the month to date, averaging 209,968 units at $499,840 compared with 216,711 stock units at $518,289 on the previous day and January with an average of 175,081 units at $401,738.
Mailpac Group led trading with 2.05 million shares for 34.1 percent of total volume followed by Image Plus with 783,408 units for 13 percent of the day’s trade and One Great Studio with 731,290 units for 12.1 percent market share.
At the close of trading, the Junior Market Index dipped 5.26 points to end trading at 3,808.58.
The Junior Market ended trading with an average PE Ratio of 13.4, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2024.
Investor’s Choice bid-offer indicator shows one stock ended with a bid higher than the last selling price and five with lower offers.
At the close, Access Financial popped $1.27 to close at $22.68 with investors trading 774 shares, CAC 2000 climbed 38 cents to $4.21 in an exchange of 469 units, Caribbean Flavours increased 10 cents and ended at $1.70 with investors swapping 3,038 stocks. Derrimon Trading rose 15 cents in closing at $2.06 in an exchange of 16,927 stock units, Dolphin Cove rallied 97 cents to end at $18.97 after an exchange of 7,290 shares, Elite Diagnostic advanced 8 cents in closing at $1.77 after investors traded 144,846 units. Fontana dropped 12 cents to $10.48 with an exchange of 42,236 stocks, Honey Bun sank 39 cents to end at $6.30, with 24,354 stock units crossing the market, Jamaican Teas shed 18 cents to close at $2.40 with traders dealing in 124,722 shares. Knutsford Express declined 8 cents and ended at $12.30 after a transfer of 1,785 stocks, 
Lasco Distributors gained 11 cents to $3.87 in switching ownership of 27,706 units, Lasco Financial fell 13 cents to close at $1.91 while exchanging 5,933 stocks. Lasco Manufacturing dipped 10 cents to end at $4.90 with 11,723 shares clearing the market, Limners and Bards lost 18 cents in closing at $1.47 after an exchange of 9,866 stock units, Lumber Depot skidded 12 cents to $2.20, with 185,704 units changing hands. Mailpac Group popped 19 cents to $2.38, with an exchange of 2,052,755 stocks and Medical Disposables increased 18 cents and ended at $2.70 with investors transferring 11,894 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Gains for JSE Main market
Stocks recorded gains in trading on the Jamaica Stock Exchange Main Market ended on Thursday, with the volume of stocks traded rising 200 percent, with a 190 percent increase in value over trading on Tuesday, with 57 securities changing hands compared to 55 on Tuesday, with prices of 26 stocks rising, 21 declining and 10 ending unchanged.
Investors traded 38,589,987 shares at $156,062,036 up from 12,851,415 units at $53,884,935 on Tuesday.
Trading averaged 677,017 shares at $2,737,930 compared to 233,662 units at $979,726 on Tuesday and month to date, an average of 299,628 units at $1,311,727 compared with 256,947 units at $1,150,430 on the previous day and January with an average of 265,804 units at $2,438,118.
Transjamaican Highway led trading with 26.75 million shares for 69.3 percent of total volume followed by Wigton Windfarm with 3.84 million units for 10 percent of the day’s trade and JMMB 9.5% preference share with 3.64 million units for 9.4 percent of the day’s market share.
The All Jamaican Composite Index increased 1,143.26 points to settle at 371,982.32, the JSE Main Index climbed 634.96 points to settle at 335,041.32 and the JSE Financial Index increased 0.41 points to cease trading at 71.66.
The Main Market ended trading with an average PE Ratio of 13.6. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments climbed 92 cents to end at $71.10 and closed with 807 shares changing hands, Eppley Caribbean Property Fund popped $2.50 in closing at $40 after exchanging 750 units, First Rock Real Estate advanced 48 cents to $8.98 with investors trading 469 shares. GraceKennedy sank 40 cents to close at $75.60 after an exchange of 57,232 stock units, Guardian Holdings declined $17.99 and ended at $350.01 with investors transferring 43 shares, Jamaica Producers lost $1.10 to $23.10, with 1,421 stock units crossing the market. JMMB Group rose $2.95 to close at $27 with a transfer of 720,211 stock units, Kingston Wharves gained 40 cents to end at $28.50, with 2,699 units changing hands, Margaritaville rallied $1.48 in closing at $16.34 after 30 stocks passed through the market. Massy Holdings skidded $2.50 and ended at $97 in trading 1,315 units, Mayberry Jamaican Equities fell 53 cents to $9, with 230 shares crossing the exchange, MPC Caribbean Clean Energy increased $14.50 and ended at $91 with traders dealing in just one stock unit. NCB Financial climbed $1 to end at $69.75 as investors exchanged 62,492 shares, 
Pan Jamaica dropped 70 cents in closing at $50.50 after a transfer of 1,265 stock units, Proven Investments popped $2.02 to close at $24.97 with 100,444 stocks clearing the market. Sagicor Group shed 50 cents to end at $43.50 with an exchange of 7,767 units, Sagicor Real Estate Fund dipped 32 cents in closing at $7.62 after 1,375 stocks crossed the market, Salada Foods advanced 48 cents and ended at $3.60 in an exchange of 143,597 shares. Seprod rose 75 cents to close at $83.75 with investors swapping 3,912 stock units, Stanley Motta sank 70 cents to end at $6.30 in switching ownership of 1,113 units, Supreme Ventures shed 30 cents to $26.20 while exchanging 4,440 stocks. Sygnus Credit Investments rallied 65 cents and ended at $11.60 in trading 103,323 units and Sygnus Real Estate Finance increased 65 cents to end at $11.25 with investors dealing in 4,193 shares.
In the preference segment, Eppley 7.50% preference share declined 90 cents in closing at $6 in an exchange of 705 stock units. Jamaica Public Service 7% gained $5.25 to close at $48.25 with investors swapping 19 shares and 138 Student Living preference share popped $3 to $217 with an exchange of 5 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
JSE get no held from profit reports
A plethora of company results hit the Jamaica Stock Exchange market ahead of trading on Thursday but did little to move stock prices in any major way as investors may not have had the time to digest most of the new numbers, with some being B enough to move prices in the weeks ahead and the market closed with gains in the Main Market indices, with moderate slippage in the Junior and JSE USD markets, with the volume and value of stocks changing hands surging over the previous trading day, resulting in prices of 35 shares rising and 36 declining.
At the close of trading on Thursday, the JSE Combined Market Index climbed 549.45 points to close at 347,570.91, the All Jamaican Composite Index rallied 1,143.26 points to 371,982.32, the JSE Main Index climbed 634.96 points to end trading at 335,041.32. The Junior Market Index shed 5.26 points to end at 3,808.58 and the JSE USD Market Index skidded 1.80 points to cease trading at 253.80.
At the close of trading, 45,443,191 shares were exchanged in all three markets, up from 16,492,495 units on Tuesday, with the value of stocks traded on the Junior and Main markets amounted to $169.49 million, up from $62.80 million yesterday and the JSE USD market closed with an exchange of 827,138 shares for US$94,452 compared with 180,495 units at US$53,094 on Tuesday.
Trading in the Main Market was dominated by Transjamaican Highway led trading with 26.75 million shares followed by Wigton Windfarm with 3.84 million units and JMMB 9.5% preference share with 3.64 million stock units.
In the Junior Market, Mailpac Group led trading with 2.05 million shares followed by Image Plus with 783,408 units and One Great Studio with 731,290 units.
At the close of trading on the Main Market, Barita Investments climbed 92 cents to end at $71.10, Eppley Caribbean Property Fund popped $2.50 in closing at $40, JMMB Group rose $2.95 to close at $27, Margaritaville rallied $1.48 in closing at $16.34, MPC Caribbean Clean Energy increased $14.50 and ended at $91, NCB Financial climbed $1 to end at $69.75, Proven Investments popped $2.02 to close at $24.97.
The major declining Main Market stocks include Guardian Holdings declined $17.99 and ended at $350.01, Massy Holdings skidded $2.50 and ended at $97
At the end of Junior Market trading, Access Financial popped $1.27 to close at $22.68, CAC 2000 climbed 38 cents to $4.21 Dolphin Cove rallied 97 cents to $18.97, and Medical Disposables increased 18 cents and ended at $2.70. with the major losing stocks being Honey Bun that sank 39 cents to end at $6.30, Jamaican Teas shedding 18 cents to close at $2.40, Limners and Bards losing 18 cents in closing at $1.4 and Mailpac Group popping 19 cents to $2.38.
In the preference segment, Eppley 7.50% preference share declined 90 cents in closing at $6, Jamaica Public Service 7% gained $5.25 to close at $48.25 and 138 Student Living preference share popped $3 to $217.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 21.5 on 2022-23 earnings and 14.4 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to navigate numerous investment options successfully in the stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide for investors to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts, along with the closing volume pertaining to the highest bid and the lowest offer for each company.
Profit jumps at Stanley Motta
Profit before taxation and gains on the valuation of investment properties for 2023 rose 12.8 percent from $242 million in 2022 to $273 million at Stanley Motta, a real estate owner, with the final quarter increasing 11 percent from $64 million to $71 million in the final quarter of the year.
Stanley Motta 58 Half Way Tree building.
Revenues, primarily comprising rental income rose 6.6 percent for the year to $535 million from $502 million in 2022 and increased 10 percent from $127 million in the December 2022 quarter to $140 million in 2023. Finance cost was $83 million for 2023 and $90 million in 2022 with the final quarter cost down to $22 million from $33 million in 2022, even borrowing cost ballooned to $1.86 billion from $982 million at the end of 2022.
The company expended nearly $1.2 billion on the construction of a 10 story building at 58 Half Way Tree road property to add 84,000 square feet of rentable space within the complex to cost $1.8 billion to be completed in the middle of this year, the 2022 annual report stated. The new building will add around 40 percent to the rented space and generate rental in the order of $200 million to rental income per annum. Finance costs associated with funding the construction will be in the order of $100 million in the early years.
After fair value gains on investment properties of $1.5 billion versus $616 million in 2022 the company ended with net profit of $1.78 billion in 2023 and $849 million in 2022, with the final quarter results being $1.58 billion compared with $675 million in 2022.
Administrative expenses for 2023 remained stable, compared to that in 2022, at $180 million for the year and for the final quarter it rose 10 percent to $33 million from $30 million in 2022.
The company ended the year with shareholders’ equity of $1.9 billion, with cash and equivalent of just 439 million and current liabilities of $231 million.
Earnings per share for the year, was $2.34, compared to $1.12 in 2022. The stock last traded at $7 on the Main market of the Jamaica Stock Exchange and closed on Tuesday with only a handful of offers.
Trading dips on JSE Main market
Trading on the Jamaica Stock Exchange Main Market ended on Tuesday, with the volume of stocks traded declining 64 percent and the value 61 percent lower than on Monday, with trading in 55 securities compared with 58 on Monday, with prices of 24 stocks rising, 19 declining and 12 ending unchanged.
The market closed with 12,851,415 shares trading for $53,884,935, down from 35,567,325 units at $139,024,409 on Monday.
Trading averaged 233,662 shares at $979,726 compared to 613,230 units at $2,396,973 on Monday and month to date, an average of 256,947 units at $1,150,430, compared with 259,799 units at $1,171,340 on the previous day and January with an average of 265,804 units at $2,438,118.
Wigton Windfarm led trading with 4 million shares for 31.1 percent of total volume followed by JMMB 9.5% preference share with 3.94 million units for 30.7 percent of the day’s trade and Transjamaican Highway with 1.83 million units for 14.3 percent of the volume of stocks traded.
The All Jamaican Composite Index popped 93.57 points to close trading at 370,839.06, the JSE Main Index fell 377.08 points to finish at 334,406.36 and the JSE Financial Index sank 0.55 points to close at 71.25.
The Main Market ended trading with an average PE Ratio of 13.5. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2024.
Investor’s Choice bid-offer indicator shows 13 stocks ended with bids higher than their last selling prices and six with lower offers.
At the close, Barita Investments dipped $1.02 to end at $70.18 in trading 25,060 stock units, Caribbean Cement climbed $1.99 to $55.99, with 5,141 shares changing hands, Eppley popped $1.99 to $35.99 as investors exchanged 5,247 stocks. Eppley Caribbean Property Fund fell by $2.50 to close at $37.50, with 7,102 units crossing the market, GraceKennedy advanced 44 cents and ended at $76 with a transfer of 2,422 stocks, Guardian Holdings rose $8 to $368 with 19 units clearing the market. Jamaica Broilers declined 50 cents to close at $34 after closing with an exchange of 28,112 shares, Jamaica Producers rallied 65 cents to end at $24.20 with investors trading 84 stock units, JMMB Group shed $1.39 in closing at $24.05 while exchanging 242,450 shares. 
Kingston Wharves dropped $2.40 and ended at $28.10 in switching ownership of 80,542 units, Massy Holdings lost 50 cents to close at $99.50 after exchanging 26 stocks, Pan Jamaica increased $1.08 to end at $51.20 with investors trading 189 stock units. Sagicor Group gained 50 cents in closing at $44 in an exchange of 7,763 shares, Salada Foods sank 33 cents and ended at $3.12 with investors swapping 11,295 units, Scotia Group rose 50 cents to close at $45 with an exchange of 47,920 stocks. Seprod rallied $1 to $83, with 2,377 stock units crossing the market, Supreme Ventures increased $1.97 and ended at $26.50 with investors transferring 68,313 shares, Victoria Mutual Investments climbed 32 cents in closing at $3 in an exchange of 49,930 units and Wisynco Group skidded 30 cents to close at $21.70 with investors dealing in 307,864 stocks.
In the preference segment, Jamaica Public Service 7% sank $5.80 to end at $43 after a transfer of 561 stock units and Productive Business Solutions 10.5 % preference share declined $16 to $1284 with traders dealing in 3 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
