11 junior stocks rose 2 down

Dolphin Cove share recover some of Wednesday's losses.

Dolphin Cove share recover some of Wednesday’s losses.

The junior market enjoyed wide spread trading as 16 securities were active but the market index rose 23.19 points to close at 1,311.54. A total of 1,859,693 units, valued at $6,149,063 changed hands as 11 stocks advanced and 2 declined.
The market ended with 1 stock closing at a 52 weeks’ high while 3 securities ended with no bids to buy and 7 had no stocks being offered for sale. A total of 3 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, AMG Packaging lost 9 cents to close at $4.80 with 51,861 units changing hands, Blue Power had 12,850 shares changing hands at $13, Cargo Handlers closed at a new 52 weeks’ high of 33 with 9,000 shares while adding $1. Caribbean Cream rose 20 cents and closed at $3.40 with 304,730 shares changing hands. Caribbean Producers traded 18,000 units for a gain of 2 cents to end at $3.10, Consolidated Bakeries traded 256,212 shares to end at $1.90 with a gain of 25 cents, for a 52 weeks’ high, Dolphin Cove recovered from the big loss on Wednesday, to gain $1.60, with 51,015 units changing hands, to end at $11.60. JM - Trade sht 29-10-15General Accident ended with 30,000 shares changing hands at $1.90, Honey Bun traded 19,052 shares at $5 to gain 82 cents, Jamaican Teas had 22,043 shares trading for 2 cents more at $3,42, KLE Group traded down 1 cent at 44 cents with 29,000 units, Knutsford traded 222 shares and gained 30 cents to a new all-time high of $6.50. Lasco Distributors with 486,615 shares changing hands, closed with a gain of 35 cents for a closing 52 weeks’ high of $3.41, after the price hit $3.45, during trading. Lasco Financial closed with a 15 cents gain to $2.60 after trading earlier at $2.67, a total of 307,061 shares changed hands, Lasco Manufacturing traded 162,035 shares to end with an increase of 15 cents to $3.40 and Medical Disposables ended with 99,997 units changing hands to end at $2.50.

7 juniors stocks rose 2 fell

JSE sign shrtThe junior market ended with 11 securities traded as the junior market index fell 3.83 points to 1,281.95 with 1,300,792 units, valued at $14,184,687, changing hands as 7 stocks advanced and 2 declined.
The market ended with 5 securities ended with no bids to buy, while 2 had no stocks being offered for sale. A total of 7 stocks closed with bids higher than the last traded prices and 1 closed with a lower offer.
In trading, Caribbean Cream price slipped 33 cents and closed at $2.90 with 120,000 shares changing hands. Caribbean Flavours traded at $3.50 with 19,392 shares changing hands, Caribbean Producers traded 414,000 units to end at $2.99, Consolidated Bakeries rose 10 cents in traded 59,878 shares, to end at $1.30. General Accident Insurance ended with 127,562 shares changing hands to gain 5 cents and end at $1.90,JM - Trade sht 21-10-15 KLE Group had 116,279 units changing hands at 43 cents, Knutsford Express traded 132,617 shares at $6.20 after adding 5 cents to end at a new 52 weeks’ high, Lasco Distributors with 10,763 shares changing hands, closing 3 cents higher at $2.86. Lasco Financial closed at a new all-time closing high of $2.60 while 147,651 shares changed hands with the price rising 10 cents, the stock traded at $2.65 during the day, Lasco Manufacturing traded 147,651 shares to end at $3.49 after trading 14 cents higher and Medical Disposables closed at $2.55 with a rise of 20 cents with 10,000 shares traded.

Another new record close for juniors

Caribbean Flavours traded at a 52 weeks' high of $3.50.

Caribbean Flavours traded at a 52 weeks’ high of $3.50.

The junior market ended at a new record  high at the close, with 13 securities traded and the junior market index rising by 23.09 points to 1,285.78 with 1,356,689 units, valued at $3,717,777 changing hands while 7 stocks advanced and 3 declined.
The market ended with 5 securities closing with no bids to buy, while 4 had no stocks being offered for sale. A total of 8 stocks closed with bids higher than the last traded prices and 1 closed with a lower offer.
In trading, AMG Packaging closed with a loss of 8 cents with 26,909 units changing hands at $3.80 at the end of trading, Cargo Handlers ended with 712 shares changing hands, for a gain of $1 and closed at a new all-time high of $32, Caribbean Cream price slipped 7 cents and closed at $3.23 with 75,719 shares changing hands. Caribbean Flavours traded at a new 52 weeks’ high of $3.50 with 23,708 shares as the price rose 20 cents, Caribbean Producers traded 7,100 units to end at $3, Consolidated Bakeries rose 2 cents in traded 173,007 shares, to end at $1.20. Derrimon Trading ended with 335 shares changing hands to gain 3 cents and end at $2.33, Honey Bun had 10,222 units changing hands at $4, for an increase of 35 cents. Jamaican Teas had just 7,175 shares changing hands at $3.35, Knutsford Express traded 5,000 shares at $6.15 after adding 15 cents for a new all-time high, Lasco Distributors with 66,215 shares changing hands, closed at $2.83. Lasco Financial closed at a new all-time high of $2.50 while 549,875 shares changed hands with the price rising 24 cents and Lasco Manufacturing traded 410,712 shares to end at $3.35 after trading shedding 10 cents.

Knutsford doubles profit

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  Knutsford Express more than doubled its profit for the first quarter to August, with a jump of 109 percent to $35.7 million, from $17 million in 2014 and revenues that climbed 38.5 percent to $143 million. The increased revenue “was due to growth in passenger travel” the company stated in its report to shareholders.
Administrative and general operating expenses grew by a much slower 23 percent to $104 million than revenue. Depreciation climbed from $5.4 million to $7.55 million and finance amounts to $3.9 million and is up from $2.3 million in 2014.
Unfortunately the company has not provided information on the composition of administrative and general operating expenses. Based on the last audited financials, the largest cost items are fuel, accounting for around 19 percent of cost, labour for 34 percent and repairs around 10 percent for a total of 43 percent or thereabout.
Earnings per share is 36 cents for the 2015 quarter, putting full year earnings in the $1.60 region.
The company provides a popular coach bus service that plies between Kingston and the North and South coasts of Jamaica. Service was extended to Port Antonio from Ocho Rios earlier in 2015 but will take time to build as more persons become familiar with it. Going forward it is unsure what the opening of the highway to Ocho Rios from Kingston will mean for growth. What is sure it will take less time to cover the route with less operating cost per trip and will allow them to better compete with air travel as the time factor to and from Montego Bay and Kingston will be reduced.
The stock is listed on the junior market of the Jamaica Stock Exchange and has been trading around $6.10, for some time. These results should give the price a lift as the value is very low compared to others on the market, but management needs to improve on the inadequate manner of reporting the results, if not investors will be skeptical about the financial performance and shy away from the stock.
At the end of the quarter, shareholders equity stands at $250 million and liabilities of just $91 million and current assets of $157 million which includes cash and investments of $79 million and other assets of $61 million that rose from $21 million in May this year.
The company paid a dividend of 15 cents per share on September 15.

Big surge in juniors on Friday

Lasco's hot "I Cool" drink - 2 Lasco companies closed at new all-time highs on Friday.

Lasco’s hot “I Cool” drink – 2 Lasco companies closed at new all-time highs on Friday.

The junior market ended on Friday at a new closing high of 1,162.71 for index which gained 5.77 percent with 63.41 points. The market is 7.2 percent away from the critical 1,200 points level which is a point of resistance. Since the end of 2014, the junior market index is up 69 percent compared with 41 percent for the main market.
A total of 6 stocks advanced, none declined as 10 securities traded while three new all-time highs were recorded at the close. The market ended with 2,486,913 units, valued at $4,312,241 changing hands.
At the close 5 securities ended with no bids to buy, while 6 had no stocks being offered for sale. A total of 4 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, Caribbean Cream traded at a new all-time closing high by gaining 20 cents of $3.50 with 251,200 shares changing hands, Caribbean Flavours traded 30,000 units trading at $3.08 for a 52 weeks’ high, Consolidated Bakeries ended with 1,649,784 units changing hands at $1.15, with a gain of 1 cent. JM - Trade sht 9-10-15Jamaican Teas had 2,282 shares trading to close at $3.20, with a gain of 10 cents, Knutsford Express traded 17,383 shares at $6. Lasco Distributors closed at a new record high of $2.50 with 283,976 units trading for a gain of 25 cents, Lasco Financial traded 70,688 shares changing hands to end at $1.95, Lasco Manufacturing traded 187,500 shares to end at $2.95 after gaining 15 cents for a new all-time high, Medical Disposables traded 3,100 shares to close unchanged at $2.45 and Paramount Trading had 1,000 units changing hands at $6.50.

4 junior stocks gain on Tuesday

Stocks The junior market ended on Tuesday with the index falling marginally by 0.60 points to close at 950.33. A total of 4 stocks advanced, none declined with a total of 9 securities trading. The market ended with 772,681 units, valued at $1,436,470 changing hands.
The market ended with 4 securities with no bids to buy, while 7 had no stocks being offered for sale. A total of 7 stocks closed with bids higher than the last traded prices and 2 closed with lower offers.
Stocks trading are, Caribbean Cream ended with 185,000 shares changing hands at $1.71, as the price rose 6 cents, Caribbean Producers traded 23,000 units to close at $2.35, General Accident trading 26,621 sharesCargo Handlers with 550 shares changing hands ended at $31, JM - Trade Sht 22-9-15 to end at $1.46 with a 1 cent rise. Honey Bun had 10,000 shares trading with an increase of 28 cents to close at a 52 weeks’ high of $4.28, Knutsford Express had 8,000 shares changing hands at $6.10, Lasco Distributors with 115,800 shares trading, closed at $1.84 after rising by 2 cents. Lasco Financial ended with 174,000 shares changing hands for a decline of at $1.55, Lasco Manufacturing with 229,630 shares trading closed at $1.90.

Junior index drops 3.5% on Friday

Lasco Manufacturing fell 15 cents to help pull the index down

Lasco Manufacturing fell 15 cents to help pull the index down

Trading on Friday ended with just 1,575,636 units, valued at $3,382,110 changing hands from a total of 9 securities that traded. The prices of 3 stocks advanced 4 declined with the junior market index dropped 34.11 points or 3.45 percent to close at 954.91.
The large decline in the index would be due a lot, to the fall of Lasco Manufacturing with a large number of issued shares.
At the close, 5 securities ended with no bids to buy, while 7 had no stocks being offered for sale and 6 stocks closed with bids higher than the last traded prices and 1 closed with a lower offer.
Stocks trading are, Access Financial traded 2,500 shares to close with a 2 cents fall to $12, Caribbean Cream lost 30 cents with 14,300 shares changing hands at $1.60, Dolphin Cove JM - Trade 11-9-15traded just 1,210 shares with a loss of 65 cents to end at $12.25, Knutsford Express had 1,500 shares changing hands at $6.10 for a 10 cents gain. Lasco Distributors closed with 490,000 units trading at $1.90 to gain 5 cents, Lasco Financial ended with 629,255 shares changing hands at $1.80. Lasco Manufacturing closed with 191,077 units trading, ending with a loss of 15 cents at $1.80, Medical Disposables ended with 141,958 shares changing hands to close at $2.36 after gaining 1 cent and Eppley preference share 2019 traded 103,836 units at $6.05.

4 junior stocks fell 0 up on Wednesday

Trading on Wednesday ended with just 1,672,256 units, valued at $3,304,951 changing hands from a total of 8 securities that traded. The price of none stock declined and 4 advanced with the junior market index shedding 7.29 points to close at 983.49.
JM - Trade 9-9-15At the close, 5 securities ended with no bids to buy, while 5 had no stocks being offered for sale and 4 stocks closed with bids higher than the last traded prices and 2 closed with lower offers.
Stocks trading are, Caribbean Producers traded 131,644 shares unchanged at $2.50, Derrimon Trading ended with 29,000 shares changing hands at $2.30 after losing 35 cents, Knutsford Express traded just 15,000 shares at $6, Lasco Distributors closed with 263,298 units trading at $1.87. Lasco Financial ended with 677,150 shares changing hands at $1.85, Lasco Manufacturing closed with 549,634 units trading, ended with a gain of 19 cents to end at $2, Paramount Trading ended with 4,273 shares changing hands at $5.75 and Eppley cumulative preference share 2019, ended with 2,257 units changing hands at $6.05.

4 junior stocks up 0 down Tuesday

Trading on Tuesday ended with just 250,010 units, valued at $593,128 changing hands from a total of 9 securities that traded. The price of none stock declined and 4 advanced with the junior market index adding 20.34 points to close at 990.78.
At the close, 5 securities ended with no bids to buy, while 4 had no stocks being offered for sale and 5 stocks closed with bids higher than the last traded prices and 4 closed with lower offers.
JM - Trade 8-9-15Stocks trading are, AMG Packaging closed at $3.65 with 1,000 units changing hands, Blue Power closed with 550 units changing hands to close at $13.70 with a gain of 10 cents, Caribbean Cream ended with 600 shares changing hands at $1.90 to gain 15 cents, Caribbean Producers traded 108,777 with a gain of 10 cents to $2.50. Knutsford Express traded just 200 shares at $6, Lasco Distributors closed with 27,000 units trading at $1.87, Lasco Financial ended with 27,000 shares changing hands at $1.85 and Lasco Manufacturing closed with 83,406 units trading, ended with a gain of 19 cents to end at $2.

Knutsford’s sales up 38% cost 44%

  Knutsford Express’ audited report for 2015 shows a big 38 percent surge in profit to $69 million over the $50 million in 2014, from revenues of $454 million, 38 percent more than the $329 million generated in 2014. With that level of revenue increase profit should have grown much faster than it did, and should have been closer to doubling.
New routes added could have been a factor as passenger traffic takes time to build up, more importantly, increased cost in a number of areas seems more the culprit. Expenses for 2015 are up 41 percent but excluding $4.58 million of IPO cost included in 2014, the increase would have been 43.5 percent. The overall increase comes against the fact that fuel rose only 12 percent to $70 million and accounted for 19 percent of cost, down from 24 percent in 2014. Excluding fuel, all other costs are up 50 percent over 2014 and 54 percent, excluding the IPO cost, well over the revenue increase of 38 percent.
Staff and labour cost jumped 72 percent to $126 million and now accounts for 34 percent of cost up from 28 percent.
Telephone cost rose 68 percent to $7.9 million. Rent grew 61 percent to $7.8 million, travelling was up 160 percent to $6 million, advertising and promotion grew only 30 percent to $12.4 million and is one of the items that grew more slowly than revenues.

Knutsford's New Kingston depot

Knutsford’s New Kingston depot

Professional fees moved up 90 percent to $7.7 million. Passenger supplies were up 29 percent to $7 million which is well lower than the revenue growth. Parts and supplies grew 60 percent to $38 million. Surprisingly, insurance was only up by 12 percent to $14 million. Cleaning and sanitation increased 200 percent to $4.4 million. Toll fees jumped 163 percent to $7.4 million and would be due to the opening of the new leg of the highway to Ocho Rios while the South Coast routes that were added would add to the original cost. Depreciation and amortization grew to $25 million a 32 percent increase and security climbed 59 percent to $7.9 million.
Some items of cost such as repairs and maintenance actually fell while others such as electricity and office supplies rose more moderately than those above.

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