Juniors’ most active day
At the close of the market, there were 3 stocks with bids higher than their last selling prices and 1 with a lower offer. The junior market ended with 5 securities closing with no bids to buy and there were 8 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, AMG Packaging finishing with 579 units to close with a gain of 1 cent to $2.26, Caribbean Producers closing with 130,050 shares to end with an increase of 5 cents at $2.15, Consolidated Bakeries finishing trading with 27,954 shares while gaining 8 cents to 90 cents. Dolphin Cove finishing with 10,000 shares traded, with a gain of 20 cents, to a 52 weeks’ high of $9.20. General Accident completing trading 13,416 units as the price gained 3 cents to $1.70, Jamaican Teas while exchanging 400 units, closed higher by 4 cents at $2.55, Lasco Financial finishing trading with 26,370 shares changing hands, 1 cent higher to $1.08, Lasco Manufacturing closing with 751,302 shares unchanged at $1.15, Caribbean Cream closing with 10,000 units, the price slipped to 65 cents, for a 10 cents loss and Lasco Distributors concluding trading with 719,397 units to close lower by 10 cents to $1.35
Trading picked up on junior market
Activity on the Junior Market closed with 10 securities traded, ending with 1,402,202 units changing hands valued at $2,643,265. The JSE Junior Market Index gained 0.09 points to close at 715.75, with the prices of 2 stocks advancing and 3 declining.
At the close of the market, there was 1 stock with the bid higher than the last selling price and 2 stocks with offers that were lower. The junior market ended with 4 securities closing with no bids to buy and 7 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Blue Power closing with 127,163 shares to end with an increase of 5 cents at $6.35, Caribbean Producers closing with 78,145 shares, the price gained 5 cents to $2.15, Jamaican Teas finished with 32,214 shares changing hands to close 5 cents lower to $2.51, KLE Group closed with 54,000 shares trading 1 cent down at 99 cents, Lasco Financial ending trading with 500 shares 5 cents lower to $1.15. Derrimon Trading ended up closing with 100 shares changing hands, at $2.04. General Accident closed with 100 shares trading at $1.70, Consolidated Bakeries had 220 units trading at 90 cents, Caribbean Cream closing with 1,000 shares changing hands at 76 cents, Eppley 9.5% preference share ending with 13,235 units trading at $6, Honey Bun finishing with 196,849 shares at $1.91, Lasco Distributors finished with 30,174 shares trading at $1.50 and Lasco Manufacturing ending with 868,502 shares changing hands to close at $1.15.
Lasco Manufacturing on top
The JSE Junior Market Index declined 7.92 points to close at 717.77, with the prices of 5 stocks advancing and 2 declining. At the close of the market, there were 2 stocks with bids higher than their last selling prices and 3 with offers that were lower. The junior market ended with 5 securities closing with no bids to buy and 6 securities had no stocks being offered for sale.
Stocks trading in the junior market are, Cargo Handlers finished with 800 shares as the price jumped at 80 cents to a new all-time high of $17, Caribbean Flavours closing with 101,873 shares to end with an increase of 15 cents to $2.35, General Accident ended trading with 383,758 shares trading at 5 cents to $1.70, Jamaican Teas closing with 200 units trading at 1 cent more to $2.56, Lasco Distributors closing with 500,000 units and put on 3 cents to $1.51. Dolphin Cove closed with 400 units trading to end at 29 cents to $8.51, Lasco Manufacturing in trading 3,458,331 shares lost 10 cents to $1.17, Paramount Trading finished with 2,460 shares changing hands at $4.
Profits up 28% at Jamaican Teas
Sales were helped by 91 percent jump in exports, moving from $55 million to $103 million. The increase in exports, relate mainly to supplies to the US market and is partially due to the appointment of a new Distributor for the North East USA and expect that this will result in further improvement in sales. Revenues for the group, in the prior year, included $21.75 million in Real Estate sales. Excluding these sales, revenues would be up 26 percent for the quarter. Group sales also benefited from the launch of four new products during the period. Sales for Supermarkets are up 9 percent compared to the comparative quarter, in 2013, however, profits are flat. The jointly owned Supermarket in Montego Bay showed a reduction in losses which was helped by certain actions taken to reduce cost in 2014.
Gross profit margin increased to 24.3 percent from 24 percent in 2013, while gross profit increased 16 percent to $62 million but cost rose in other areas, with marketing climbing 24 percent to $7.3 million, administration by only 4 percent to $25.5 million and finance used to generate revenues in the period, is up 14 percent to $6.2 Million.
Property Development| The group has completed construction of more than 50 percent of units in phase 1 of the development in Yallahs, St Thomas. Approximately a half of the units in the first phase have been sold, delivery to the purchasers should start in April. The group should enjoy increased profits from this development which should start reflecting in the June quarter.
Borrowed funds stand at $320 million including long term debt of $228 million and equity capital at $660 million.
Barring any unforeseen developments, 2015 could produce the best financial performance far. The stock which is now at $2.55 seems to have much room for growth.
Junior market falters, 3 stocks rise 3 fall
Activity on the Junior Market closed with 7 securities trading and ending with 790,671 units valued at $998,335 changing hands. The JSE Junior Market Index declined 5.48 points to close at 698.61, with the price of 3 stocks advancing and 3 declining.
At the close of the market, there were 4 stocks with bids higher than their last selling prices and none had offers that were lower. The junior market ended with 4 securities closing with no bids to buy and 8 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Jamaican Teas traded 117,665 units, gained of 4 cents to close at $2.55, Lasco Distributors traded 46,000 shares and closed with 1 cent gain at $1.41, Lasco Financial stock gained a cent with 55,000 shares, to end at $1.06, Lasco Manufacturing with 465,462 shares changing hands closed at $1.20.
Blue Power closed with 2,544 units trading, the price slipped 11 cents $6.40, Caribbean Producers in closing with 94,000 shares trading lost 10 cents at $2.20 and General Accident ended with 10,000 shares changing hands 15 cents lower at $1.65.
Jamaican Teas’ profits up 28%
Sales were helped by 91 percent jump in exports, moving from $55 million to $103 million, Sales in the prior year included Real Estate sales of $21.75 million, excluding these sales, revenues would be up by 26 percent for the quarter. The increase in exports, relate mainly to supplies to the US market and is partially due to the appointment of a new Distributor for the North East USA and expect that this will result in further improvement in sales. Sales also benefited from the launch of four new products during the period. Sales for Supermarkets are up 9 percent compared to the comparative quarter, in 2013, however, profits are flat. The jointly owned Supermarket in Montego Bay showed a reduction in losses which was helped by certain actions taken to reduce cost in 2014.
Gross profit margin increased to 24.3 percent from 24 percent in 2013, while gross profit increased 16 percent to $62 million but cost rose in other areas, with marketing climbing 24 percent to $7.3 million, administration by only 4 percent to $25.5 million and finance used to generate revenues in the period is up 14 to $6.2 Million.
Property Development| The group has completed construction of more than 50 percent of units in phase 1 of the residential development in Yallahs, St Thomas. Approximately a half of the units have been sold and delivery to the purchasers should start in April. The group should enjoy increased profits from this development which should start reflecting in the June quarter.
Barring any unforeseen developments, 2015 could produce the best financial performance far. The stock which is now at $2.55 seems to have much room for growth.
3 junior stocks rose
At the close of the market, there were 5 stocks with bids higher than their last selling prices and no stocks with offers that were lower. The junior market closed with 6 securities closing with no bids to buy. There were 8 securities that had no stocks being offered for sale.
Stocks trading are, Jamaican Teas finishing with 64,302 units changing hands, to close 34 cents up at $2.85. Lasco Manufacturing ended with 70,700 shares changing hands with a gain of 5 cents, at $1.18, Paramount Trading ended with 17,342 units changing hands, to close 1 cent higher at $2.76. Eppley 9.5% preference shares traded 91,100 units at $6, General Accident finished with 34,667 shares changing hands at $1.75, Lasco Financial closed with 1,000 units trading at $1.05, AMG Packaging closed with 5,000 units trading as the price slipped 1 cent to $2.14 and Lasco Distributors finished with 64,500 shares changing hands 5 cents lower to $1.45.
Jamaican Teas 2014 profit drops
Jamaican Teas reported sharply lower profit, last year to September, of $52.7 million versus $93 million in 2013, with earnings per share of 31 cents. The figures were reported in the group’s audited financial statements release last week.
The results emanated from sale revenues of $1.14 billion down from $1.23 billion in 2013. There was approximately $50 million coffee sales included in the 2013 results with none in 2014. In 2013 the real estate segment contributed $185 million in revenues compared to only $26 million in 2014 with most coming in the September 2013 quarter.
Gross profit margin shrank slightly from 21.89 percent to 21 percent for the year, helping to cut gross profit by $17 million. Other operating income climbed to $24.7 million from $12.9 million in 2013, partially due to losses on sale of, and impairment of investments incurred in 2013, amounting to $13.5 million, but did not occur in 2014.
Changes in our distributorship in the Florida at the start of the fiscal year resulted in some short-term fall out in sales and increased marketing cost. A new distributor was appointed in the US market that will provide wider distribution in some key cities within that country. Revenues are expected to benefit from this development starting with the December quarter. The 2015 revenues, should also benefit from the completion of sales of 16 units in the first phase of the real estate development in St Thomas. The supermarket in Savanna-la-Mar was close to a break even by year-end and while the one in Kingston remained profitable. The Montego Bay supermarket reported losses in line with what was incurred in the prior year.
There was approximately $50 million increased borrowed funds at the end of the year, putting borrowings at $304 million. The profile of the debt changed markedly, with long-term loans accounting for two thirds of the debt at the end of the fiscal year compared with just 2 percent in 2013. The portfolio of investments including equities, stood at $123 million at the year-end and shareholders’ equity of $635 million.
The company imports of black and green tea in bulk for packaging and the distribution local and overseas. it also packages and distributes herbal teas and distributes other bottled water, coconut milk and other pre-packaged food items. the group operates supermarkets and is involved in the rental of residential properties and the development of real estate for resale.The stock is listed on the Jamaica Stock Exchange and last traded at $2.50.
Jamaican Teas at new low
Trading in the Junior Market closed with 6 securities traded and ended with 122,569 units valued at $215,553 being active. The JSE Junior Market Index fell 3.08 points to close at 665.49, with the price of one advancing 3 declining. At the close of the market, there were 2 stocks with bids higher than their last selling prices and none with offers that were lower. The junior market remains on the weak side with 8 securities closing with no bids to buy. There were 6 securities that had no stocks being offered for sale.
General Accident closed with 92,805 units trading, the price slipped 10 cents to $1.65, Honey Bun completed trading with 10,018 shares changing hands to close 10 cents up to $2, Jamaican Teas finished with 5,000 shares trading lower by 34 cents $2.50, to a new an all-time low. Paramount Trading ended trading with 7,000 shares changing hands to close at 5 cents lower at $2.55, Caribbean Producers ended trading with 1,746 shares changing hands to close at $2.15 and Consolidated Bakeries closed with 6,000 shares at 82 cents.
Lasco Distributor up 30% in November
Junior market stocks gained 5 percent overall, for November, with Lasco Distributor moving up 30 percent to close at $1.50 as institutional buying, helped to push the price as the company enters new contracts that expand the product lines to be distributed as well as increased products form its sister company, Lasco Manufacturing. The manufacturing company stock rose 15 percent in the month as the second highest gain in the junior market. Buy Rated Knutsford Express grew 6 percent to end at $5.85 and Dolphin Cove another Buy Rated stock moved up 5 percent to end at $8.50.
Lasco Financial closed at 95 cent, for a 3 percent decline the same decline as General Accident in closing at $1.50. Jamaican Teas ended at $2.85, down 14 percent, the company reported lower profits for the fiscal year to September. Blue Power dropped to $6.05 or 22 percent but the bid climbed to $7 after the company reported profit that was just slightly lower than in the six months to October last year, by 7 percent, as it reported earnings of 91 cents per share, for the period.