Increased Jamaica Producers’ investments

August 21, 2017 by

Jamaica Producers to introduce a new line of banana chips.

Jamaica Producers has been undergoing major changes for a number of years as it morphs from a predominant banana marketing company to a much more diversified group.
The group sold its banana ripening and fruit distribution business in the United Kingdom years ago bought a juice business in Holland and more recently bought more heavily into Kingston Wharves that is now considered a subsidiary.
It also bought out the Tortuga Rum Cake business and relocated production to Kingston. With all of that its core business has only recently started to show sign of profitability that the level of investment demands. In furtherance of improving return on investment in the legacy business as well as newer ones, the group says they will continue a programme of investment that is designed to improve its product and service offering while enhancing its operating efficiency.
In line with this programme, prior to the end of this year, Kingston Wharves will launch new logistics facilities for the warehousing of general cargo, and the storage of bulk and automotive cargo for domestic and transshipment markets. The location of this is slated for lands adjacent to the Tinson Pen airport.
The subsidiary, “JP Tropical Group will commission new state-of-the-art cold storage and ripening facilities at Retirement Road in Kingston for its banana and pineapple business and will introduce a new variety of St. Mary’s banana chip for the first time in 20 years.” “The group’s head office activities will move from Oxford Road in New Kingston to the locations in Kingston where operations are centred. This will mean that we will enter the 2018 financial year operating from purpose built corporate offices in Newport West with a lower overhead cost base,” the company reported.
“These new initiatives will build on the recent completion of a high specification bakery in Kingston to consolidate the production for international markets of Tortuga Rum Cakes, the launch of a new packaging facility for fresh pineapples in St. Mary, and a new juice line in the Netherlands that deploys high pressure processing technology to extend the shelf life of fresh juice produced by us. We are particularly pleased to report that these completed capital programmes are all contributing positively to the performance of the Group,” Jamaica Producer advised shareholders in a report accompanying the half year results.
The shift of Tortuga Rum Cakes production to Kingston will result in major cost savings for this operation than the other locations within the region, with lower cost and economies of scale for that operation.

Filed Under: Company News, Feature Stories, General Business News Tagged With: , , ,

Profits surge at Kingston Wharves

August 20, 2017 by

Revenues at Kingston Wharves jumped 19 percent or $467 million over the corresponding period in 2016 to $2.9 billion for the six months to June 2017 and 22 percent for the June quarter to $1.55 billion.
The strong revenue growth resulted in profit before taxation climbing 32 percent from $650 million in 2016 to $857 million for the half year and an even more impressive 40 percent in the quarter, to $454 million. Net profit attributable to shareholders increased 34 percent, moving by $187 million to $742 million over the comparable period in 2016 for the six months and a strong 46 percent in the latest quarter, to $414 million. The results produced earnings per stock unit of 29 cents for the quarter and 52 cents for the half year.
The strong quarterly performance comes against the background of a sharp fall in other operating income from $105 million to just $17 million, partially offset by finance costs declining to $31 million from $67 million in 2016 June quarter.
The Terminal Operations Division delivered revenues of $2.3 billion, a 19 percent increase over the corresponding period in 2016. Divisional operating profits increased by 50 percent from $485 million to $727 million. The key drivers include growth in container handling, motor units and break bulk operations amongst other areas. “Total revenues earned in the Logistics and Ancillary division amounted to $676 million, with operating profits totaling $192 million, an increase of 15 percent and 6 percent respectively, over the corresponding period in 2016 due primarily to continuous expansion of KWL’s service offering and a widening of its customer base, as well as improved operational efficiencies gained through increased use of technology to manage the warehousing operations and security services,” the chairman Jeffrey Hall, the company’s chairman reported to shareholders.
Administrative expenses rose much faster than revenues at 30 percent for the quarter, to $290 million and 18 percent for the six months to $543 million.
The Group’s balance sheet reflects short term investments and cash of $3.1 billion, shareholders’ equity of $19 billion and borrowed funds amounting to $2.4 billion.
The growth for the half year has been very strong suggesting that IC Insider.com’s forecast of $1.13 for the full year is on track and may even be exceeded if the second quarter pace of growth continues. The stock traded at on the Jamaica Stock Exchange on Friday gone at $30, resulting in one of the highest valued stock on the market at a PE of 27 times current year’s earnings. If the growth continues at the current pace into 2018 then the current value would be acceptable as the valuation would fall under 20 times 2018 earnings.
Kingston Wharves will shortly launch new logistics facilities for the warehousing of general cargo, and the storage of bulk and automotive cargo for domestic and transshipment markets and have already had acceptance from potential customers. The location of this is slated for lands adjacent to the Tinson Pen airport in Kingston.

Filed Under: Company News, Company Results Tagged With: , , , , , ,

Kingston Wharves pumps up JP profits

August 20, 2017 by

Jamaica Producers current HQ.

Jamaica Producers made improvement in its operations, with strong gains in operating profit, helped by the consolidation of Kingston Wharves (KW), but importantly, gains from its other core business.
The company reported profit attributable to shareholders of $158 million for the second quarter and $251 million for the half year to June, 2017.
The results flowed from revenues of $7.4 billion up from $4.6 billion in 2016 for the half year and $4 billion for the quarter, up from $2.4 billion in 2016. In 2016 the group’s share of KW was treated as an associate as such the revenues for 2016 does not include that for wharf as is the case in 2017.
Closer look at the numbers, shows that while profit jumped sharply, the subsidiary Kingston Wharves accounted for $485 million of the $546 million profit generated from operations in the June quarter and $918 million of the $981 million generated for the half year. Revenues from KW amounts to $1.55 billion for the quarter and $2.94 billion for the six months, less than 40 percent of JP group’s revenues.
The numbers suggest there is much work to be done, to knock Producers as the group is called, into shape. Relocation of the head office from rented property to an existing property owned by them and serving other group companies and the consolidation of the Tortuga Rum Cake operations in Kingston with modern equipment and other changes, will help to improve profitability of the core business.
The results for 2017 translate to 14 cents per share for the quarter and 22 cents for the half year and should end around 50 cents for the year. With a stock price of $13.75 the market value is a very rich 29 times earnings against a market average of just over 13. The stock which traded as high as $22 earlier this year has been slowly correcting and seems headed lower as investors get a clearer picture of the likely full year’s earnings.
The group’s main activities are port terminal operations, logistics, the cultivation, marketing and distribution of fresh produce, food and juice manufacturing, land management and the holding of investments.

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Big price gains in Scotia & NCB – Friday

August 18, 2017 by

NCB jumped $3.85 on Friday

A big $3.85 jump in the price of NCB and $2.99 for Scotia Group followed by $2 gain in Caribbean Cement and $2.05 for Grace Kennedy, pushed the main market of the Jamaica Stock Exchange sharply upwards on Friday.
At the close of trading, 27 securities changed hands in the main market with 2 trading in the US dollar market, leading to 10 stocks advancing and 10 declining. The All Jamaica Composite Index advanced 3,084.30 points to close at 276,034.12, the JSE Market Index climbed 2,810.15 points to 251,498.35 and the JSE US dollar market index gained 6.31 points to 185.36.
The main market ended with 7,943,772 units valued at $101,876,271 changing hands compared to 11,248,931 units valued at $225,049,422 at the close on Thursday. Trading in the US dollar market accounted for 118,113 units valued at US$28,984 bringing the total of all trades to J$105,586,231.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 8 stocks with bids higher than their last selling prices and 3 with lower offers.
The main market ended trading with an average of 294,214 units valued at $3,773,195 for each security traded compared to an average of 468,705 units valued at $9,377,059. The average volume and value for the month to date ended at 189,965 units with an average value of $3,854,192 compared with an average of 180,487 units with an average value of $3,861,556 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
At the close of market activity, Barita Investments lost 40 cents and closed at $11.60 with 1,098 shares changing hands, Berger Paints gained 50 cents to close at $14.50 with 1,200 shares, Cable and Wireless traded 446,329 shares at $1.20 at the close, Caribbean Cement traded $2 higher to close at $28.50 with 895 shares,Carreras held firm at $108 with 64,088 shares, Grace Kennedy closed $2.05 higher to $41.05 with 3,430 shares. Jamaica Broilers ended with gains of 21 cents, at $16.21 with 218,929 shares, Jamaica Producers declined $1.25, to $13.75 with 604,110 shares, Jamaica Stock Exchange lost 2 cents to close at $6.47 with 2,500 shares, JMMB Group ended with gains of 50 cents, in closing at the last traded price of $21.50 with 782,460 shares, after it traded at $23 in the morning session as supply totally dried up at one stage when only a small volume was available at $29. At the close less than 240,000 units were offered for sales, with most at $22.50. Kingston Wharves closed at $30, rising 48 cents with 6,247 shares, Mayberry Investments gained 17 cents to end at $4.17 with 20,000 shares, NCB Financial Group jumped $3.85 to $90.95 with 194,935 shares, PanJam Investment closed at $33 with 171,350 shares, Portland JSX lost 5 cents, closing at $9.25 with 18,400 shares. Proven Investments lost 1 cent to close at $25.01 with 100,000 shares, Pulse Investments eased 1 cent, to $1.94 with 1,780 shares, Radio Jamaica closed at $1.35 with 29,950 shares, Sagicor Group traded 24 cents lower, closing at $31.75 with 10,292 shares, Sagicor Real Estate Fund closed at $12.06 with 500,400 shares, Scotia Group climbed $2.99 to $46.99 with 440,247 shares, Seprod lost 25 cents to close at $29.75 with 143,605 shares, Sterling Investments closed at $13.30 with 160,000 shares, Supreme Ventures closed at a 52 weeks’ high of $8.55 with 5,000 shares after gaining 50 cents. Proven Investments US ordinary shares lost 0.99 US cent and closed at 23.01 US cents with 117,203 units, JMMB Group US 6% preference share closed at US$1.10 with 910 units, Proven Investments 8.25% preference share closed at $5 with 14,527 units, Jamaica Public Service 9.5% preference share closed at $1,302 with 2,000 units and JMMB Group 7.5% preference share lost 1 cent to close at $1.16 with 4,000,000 units.

 

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JSE in big drop as NCB slips $2.90 – Thursday

August 17, 2017 by

NCB Financial Group closed $2.90 lower on Thursday.

The Jamaica Stock Exchange main market dropped sharply at the close on Thursday with sizable declines in some big capitalization stocks. Advancing stocks dominated trading, with a 2 to 1 ratio but a drop of $2.90 in NCB shares hit the indices with a big drop.
Market indices ended with the All Jamaica Composite Index dropping 2,855.71 points to 272,949.82, the JSE Market Index shed 2,601.88 points to close at 248,688.20 and the JSE US dollar market index slipped 7.10 points to 179.05.
IC bid-offer Indicator| At the end of trading in the main the indication is for several stocks to rise in market activity on Friday, with the Investor’s Choice bid-offer indicator reading showing a strong 11 to 2 reading.
At the close of trading, 24 securities changed hands in the main market with none trading in the US dollar market, leading to 13 stocks advancing and 7 declining. The main market ended with 11,248,931 units valued at $225,049,422 changing hands compared to 2,503,106 units valued at $111,950,847 at the close on Tuesday.
The main market ended trading with an average of 468,705 units valued at $9,377,059 for each security traded compared to an average of 100,124 units valued at $4,478,034. The average volume and value for the month to date ended at 180,487 units with an average value of $3,861,556 compared with an average of 151,666 units with an average value of $3,310,005 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In the main activity, Barita Investments gained 30 cents to end at $12 with 163,100 shares, Berger Paints closed with a loss of 45 cents at $14 with 26,471 shares, Cable & Wireless fell 14 cents to $1.20 with 109,773 shares, Caribbean Cement shed 51 cents and closed at $26.50 with 14,000 shares, Carreras closed at $108 with 273,696 shares, Grace Kennedy exchanged 240,254 shares and closed at $39. Jamaica Broilers dropped $1.50 to $16 with 1,134,504 shares, Jamaica Producers rose 40 cents to $15 with 30,820 shares, Jamaica Stock Exchange inched 4 cents higher to $6.49 with 2,000 shares, JMMB Group lost 45 cents, to $21 with 1,160,685 shares, Kingston Wharves closed at $29.52 with 1,908 shares, Mayberry Investments closed at $4 with 6,771 shares, NCB Financial Group dropped $2.90 to $87.10 with 778,034 shares, 1834 Investments closed 9 cents higher at $1.34 with 4,630 shares, PanJam Investment jumped $2 to $33 with 4,350 shares, Portland JSX ended 5 cents higher at $9.30 with 799,300 shares, Radio Jamaica traded 5 cents higher to $1.35 with 46,110 shares, Sagicor Group climbed 99 cents to $31.99 with 93,301 shares, Sagicor Real Estate X Fund rose 1 cent higher to $12.06 with 2,500,000 shares, Scotia Group rose 40 cents to $44 with 4,955 shares, Sterling Investments ended with a loss of 70 cents in closing at $13.30, with 241,935 shares, Supreme Ventures closed 5 cents higher at $8.05 with 3,609,023 shares, JMMB Group 7.5% preference share added 2 cents to close at $1.17 with 311 shares and Proven preference share rose 2 cents to $5 with 3,000 shares.

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JSE drops Wednesday

August 16, 2017 by

JMMB Group traded at a 52 weeks’ closing high od $21.45.

In main market activity on the Jamaica Stock Exchange the market indices closed down as declining stocks dominated trading, with a 3 to 1 ratio as investors did some profit taking after the big run up in the market over the last three weeks.
Market indices ended with the All Jamaica Composite Index dropping 1,411.72 points to 275,805.53, the JSE Market Index declined 1,286.24 points to 251,290.08 and the JSE US dollar market index slipped 7.10 points to 179.05.
At the close of trading, 25 securities changed hands in the main market with 2 trading in the US dollar market, leading to 4 stocks advancing and 12 declining. The main market ended with 2,503,106 units valued at $111,950,847 changing hands compared to 3,703,287 units valued at $102,098,446 at the close on Tuesday. Trading in the US dollar market accounted for 79,970 units valued at US$19,539 bringing the total of all trades to J$114,451,831.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 100,124 units valued at $4,478,034 for each security traded compared to an average of 123,443 units valued at $3,403,282. The average volume and value for the month to date ended at 151,666 units with an average value of $3,310,005 compared with an average of 157,392 units with an average value of $3,180,224 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
At the close of market activity, Barita Investments ended with a loss of 30 cents, at $11.70 with 5,098 shares, Berger Paints dropped $2.50, to $14.45 with 36,209 shares, Cable and Wireless added 14 cents to $1.34 with 660,009 shares, Carreras fell $1 to $108 with 828,843 shares, Grace Kennedy declined $2, to $39 with 163,035 shares. Jamaica Broilers closed at $17.50 with 20,112 shares, Jamaica Producers lost 40 cents, and closed at $14.60 with 10,150 shares, Jamaica Stock Exchange closed at $6.45 with 9,064 shares, JMMB Group closed 45 cents higher, at a 52 weeks’ closing high of $21.45 with 58,262 shares. Kingston Wharves closed 2 cents higher, at $29.52 with 22,173 shares, Mayberry Investments lost 40 cents, to $4.40 with 48,328 shares, NCB Financial Group closed at $90 with 45,127 shares, 1834 Investments shed 5 cents, to $1.25 with 10,130 shares, PanJam Investment traded 5 cents higher, to $31 with 18,915 shares, Portland JSX ended with a loss of 5 cents, at $9.25 with 10,900 shares. Pulse Investments closed at $1.95 with 25,403 shares, Radio Jamaica declined by 10 cents, to $1.30 with 68,038 shares, Sagicor Group lost 52 cents, to end at $31 with 25,826 shares, Sagicor Real Estate Fund closed at $12.05 with 24,000 shares, Salada Foods closed at $9.50 with 1,158 shares, Scotia Group dropped $2.30 to $43.60 with 112,709 shares, Scotia Investments with a loss of 9 cents, closed at $35.01 with 3,900 shares, Supreme Ventures closed at $8 with 32,900 shares. Proven Investments US ordinary share closed at 24 US cents with 78,570 units, JMMB Group US 6% preference share closed at US$1.10 with 1,400 units, JMMB 7.5% preference share closed at $1.99 with 12,437 units and JMMB Group 7.5% preference closed at $1.15 with 250,000 units.

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Huge improvement at Jamaica Producers

August 16, 2017 by

Jamaica Producers at $14.50, currently.

Jamaica Producers made huge improvement in its operations, with strong gains in operating profit, helped by consolidation of Kingston Wharves but more importantly major gains from its other core business.
The company reported profit attributable to shareholders of $158 million for the second quarter to June and $251 million for the half year to June, 2017.
The results flowed from revenues of $7.4 billion up from $4.6 billion in 2016 for the half year and $4 billion for the quarter, up from $2.4 billion in 2016. In 2016 the group’s share of Kingston Wharves was treated as an associate as such the revenues for 2016 does not include that for wharf as is the case in 2017.
The results translate to 14 cents per share for the quarter and 22 cents for the half year and should end around 50 cents for the year. With a stock price of $14.50 the market value is a very rich 29 times earnings.

Filed Under: Company News, Company Results, Street News & Views Tagged With: , ,

JSE main market jumps sharply – Tuesday

August 15, 2017 by

Main market stocks surge higher at the close of trading on the Jamaica Stock Exchange on Tuesday even as declining stocks beat out advancing almost 3 to 1. Market activity took place from increased volumes as 30 securities changed hands up from 26 on Monday.
At the close of trading 2 securities were active in the US dollar market, 6 stocks advanced and 15 declined in both markets. The main market ended with 3,703,287 units valued at $102,098,446 changing hands compared to 6,318,090 units valued at $56,287,458 at the close on Monday. Trading in the US dollar market accounted for just 984 units valued at US$623, bringing the total of all trades to J$102,178,210.
The All Jamaica Composite Index jumped 2,655.88 points to close at 277,217.25, the JSE Market Index climbed 2,419.81 points to 252,576.32 and the JSE US dollar market index lost 0.07 points to close at 186.15.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 4 with lower offers.
The main market ended trading with an average of 123,443 units valued at $3,403,282 for each security traded compared to an average of 243,003 units valued at $2,164,902. The average volume and value for the month to date ended at 157,392 units with an average value of $3,180,224 compared with an average of 161,636 units with an average value of $3,152,342 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investments jumped $1.20 to record high of $12 with 16,931 shares changing hands, just over a week that the company reported that the directors were considering an offer to purchase the majority of its shares. Cable and Wireless closed at $1.20, losing 3 cents as 1,114,661 shares were exchanged, after the company posted a profit in the June quarter, Caribbean Cement lost 49 cents, closing at $27.01 with 6,500 shares, Carreras climbed $1 to $109, with 761,392 shares Grace Kennedy dipped 15 cents to $41 trading 7,606 shares. Jamaica Broilers exchanged 28,206 shares at $17.50, Jamaica Producers closed at $15, with gains of 34 cents, trading 2,000 shares, Jamaica Stock Exchange lost 3 cents to $6.45, with 8,586 shares changing hands, JMMB Group gained 78 cents to close at $21, with 68,950 shares. Kingston Properties exchanged 43,400 shares at $7.20, having lost 80 cents, Kingston Wharves slid 50 cents to $29.50, with an exchange of 37,483 shares, Mayberry Investments lost 30 cents to close at $4.40, with 80,978 shares changing hands, NCB Financial Group fell 50 cents to $90, after exchanging 73,999 units, 1834 Investments lost 5 cents to close at $1.30 while trading 137,746 shares, 138 Student Living closed at $5.15, after losing 35 cents with 4,100 shares, PanJam Investment closed 5 cents lower at $30.95 trading 33,152 shares, Portland JSX exchanged 41,892 shares at $9.30. Pulse Investments gained 9 cents to close at $1.95 trading 33,986 shares, Radio Jamaica exchanged 1,000 shares at $1.40, Sagicor Group closed 47 cents lower to $31.52, with 35,648 shares, Sagicor Real Estate fund traded 24,422 shares at $12.05, Salada Foods closed at $9.50 with 442 shares changing hands, Scotia Group closed at $45.90 with trades of 27,550 shares, Scotia Investments gained 10 cents with 500 shares traded and closed at $35.10, Seprod dropped $2.55 to $30 with an exchange of 35,937 shares, Sterling Investments closed 5 cents lower to $14 trading 15,000 shares, Supreme Ventures traded 56,148 shares at $8. Proven Investments US ordinary share, closed at 24 US cents with 534 units changing hands, JMMB Group US 6% preference shares was down 2 US cents to US$1.10, trading 450 units, , Jamaica Money Market Brokers 7.5% preference share traded 4,852 units at $1.99, JMMB Group 7.5% preference closed at $1.15, with 1,000,000 units changing owners and Proven 8.25% preference share closed at $4.98, losing 1 cent exchanging 220 units.

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Barita at record high on Monday

August 14, 2017 by

The main market stocks of the Jamaica Stock Exchange declined for the second consecutive day with moderate fall in the indices at the close on Monday. Barita Investments, the subject of a proposed takeover bid closed at a new all-time high of $10.80 at the close.
The All Jamaica Composite Index declined 515.97 points to close at 274,561.37, the JSE Market Index declined 470.10 points to 250,156.51 and the JSE US dollar market index lost 2.04 points to close at 186.22.
At the close of trading, 26 securities changed hands in the main market with 2 trading in the US dollar market, leading to 8 stocks advancing and 9 declining. The main market ended with 6,318,090 units valued at $56,287,458 changing hands compared to 7,902,262 units valued at $237,278,617 at the close on Friday. Trading in the US dollar market accounted for 243,556 units valued at US$58,933, bringing the total of all trades to J$63,830,938.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 243,003 units valued at $2,164,902 for each security traded compared to an average of 395,113 units valued at $11,863,931. The average volume and value for the month to date ended at 161,636 units with an average value of $3,152,342 compared with an average of 150,012 units with an average value of $3,293,405 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investments traded $1.40 higher to close at an all-time high of $10.80 with 30,000 shares changing hands, Berger Paints gained 95 cents and closed at $16.95 trading 1,218 shares, Cable and Wireless closed at $1.23, after gaining 16 cents with an exchange of 3,513,068 shares, with investors reacting positively to the report of profit in the June quarter. Caribbean Cement lost 51 cents to end at $27.50 with 16,500 shares,Carreras closed at $108, with 88,618 shares switching owners, Grace Kennedy jumped $1.15 to close at $41.15 trading 20,997 shares. Jamaica Broilers lost 50 cents exchanging 332,468 shares to close at $17.50, Jamaica Producers closed at $14.66, with a loss of 44 cents trading 42,186 shares, Jamaica Stock Exchange closed at $6.48 with 13,000 shares changing hands, JMMB Group lost 28 cents to close at $20.22, with 341,624 shares. Kingston Properties exchanged 1,000 shares at $8, Kingston Wharves traded $1 higher to $30, with an exchange of 7,000 shares, Mayberry Investments gained 21 cents to close at $4.70, with 465,061 shares changing hands, NCB Financial Group dipped 50 cents to $90.50, after exchanging 111,568 shares, 1834 Investments lost 5 cents to close at $1.35 while trading 1,834 shares, 138 Student Living traded 26,498 shares at $5.50, PanJam Investment closed $1 higher to $31 trading 127,297 shares,Proven Investments exchanged 26,560 shares at $25.02, Pulse Investments closed at $1.86 trading 39,165 shares, Radio Jamaica lost 20 cents exchanging 52,658 shares to close at $1.40, Sagicor Group closed $2.36 lower to $31.99, with 142,899 shares, Sagicor Real Estate Fund exchanged 18,151 shares at $12.05, Scotia Group closed at $45.90 with trades of 28,304 shares, Supreme Ventures traded 468,136 shares at $8. Margaritaville Turks US ordinary share was down 3 US cents to 33 US cents trading 5,000 units, Proven Investments US ordinary share closed at 24 US cents with 238,566 units changing hands, JMMB Group 7.5% preference share gained 4 cents, closing at $1.15, with 399,500 units changing owners and Proven 8.25% preference share closed at $4.99 exchanging 2,780 units.

 

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New record close -Thursday

August 10, 2017 by

Main market stocks of the Jamaica Stock Exchange closed at record levels at the close on Thursday with the market indices climbing over 2,300 points but with advancing stocks being edged out by declining ones.
The All Jamaica Composite Index surged 2,567.56 points to a record close of 278,436.64, the JSE Market Index jumped 2,339.33 points to a record at the close of 253,687.31 and the JSE US dollar market index lost 10.81 points to close at 186.89.
At the close of trading, 25 securities changed hands in the main market with 1 trading in the US dollar market, leading to 8 stocks advancing and 9 declining. The main market ended with 1,374,903 units valued at $47,150,828 changing hands compared to 1,809,394 units valued at $47,308,355 at the close on Wednesday. Trading in the US dollar market accounted for 631,286 units valued at US$150,176 bringing the total of all trades to J$66,373,329.
IC bid-offer Indicator| At the end of trading in the main and US dollar markets, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids higher than their last selling prices and 2 with lower offers.
The main market ended trading with an average of 54,996 units valued at $1,886,033 for each security traded compared to an average of 69,592 units valued at $1,819,552. The average volume and value for the month to date ended at 109,162 units with an average value of $1,864,984 compared with an average of $119,995 units with an average value of $1,860,774 on the previous trading day. The average volume and value for July ended at 160,668 units with an average value of $2,691,438.
In market activity, Barita Investmentslost 23 cents to close at $8.77 trading 800 shares, Berger Paints advanced $2.51 to $18.69 while exchanging just 179 units, Cable and Wireless lost 1 cent to close at $1.04, with 218 units changing hands, Caribbean Cement lost $1 in closing at $28, 1,500 shares,Carreras dipped 50 cents to $109.50, with 121,812 shares switching owners and Grace Kennedy closed at $40, with a loss of 49 cents trading 9,790 shares. Jamaica Broilers exchanged 68,558 shares at $18.10, Jamaica Producers closed at $15.10, with a loss of 90 cents trading 460 units, Jamaica Stock Exchange lost 1 cent, closing at $6.48 with 34,250 shares changing, JMMB Group closed at $19.99, gaining 79 cents with 267,627 shares. Kingston Wharves exchanged 283 units at $29, Mayberry Investments gained 14 cents to close at $4.63, with 2,435 shares changing hands, NCB Financial Group held firm at $90, after exchanging 27,309 shares, 1834 Investments traded 50,000 shares at $1.40, PanJam Investment closed $2 lower to $31 trading 614,451 shares, Portland JSX gained 30 cents to $9.30, with an exchange of 3,350 shares, Proven Investments added 1 cent, closing at $25.02, with trades of 80,000 shares, Pulse Investments gained 1 cent to close at $1.99 trading 20,000 shares and Radio Jamaica closed at $1.50 exchanging 2,438 shares. Sagicor Group closed at $34.35, with gains of 35 cents trading 28,700 shares, Salada Foods gained 39 cents, closing at $9.50 with 128 units, Scotia Group ended at $44 with 23,318 shares, Seprod closed at $32.55, losing 85 cents with 7,443 shares changing hands. Proven Investments US ordinary share traded 631,286 units at 24 US cents, Jamaica Money Market Brokers 7.5% preference share closed at $1.99 with 2,934 units traded and Proven 8.25% preference share exchanged 6,920 units at $4.99.

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