News, Views & Advice from Investors's Choice
Peter Chin – CEO Lasco Distributors
The company is listed on the Jamaica Stock Exchange junior market, has virtually no debt, is yet to book its successful legal claim against Pfizer and boast equity of $2.7 billion and cash funds of $608 million. The company is to build out a new warehouse for housing the increased need of space for new product lines they represent, the building has already been bought and booked in the accounts.
Activity Trading on the junior market picked up somewhat on Wednesday to end with 8 securities traded resulting in 1,161,661 units valued at $1,552,165. The JSE Junior Market Index declined 8.68 points to close at 684.08, with the price of 2 stocks advancing and 4 declining.
At the close of the market, there were 6 stocks with bids higher than their last selling prices and 2 stocks with offers that were lower. The junior market closed with 4 securities closing with no bids to buy. There were 6 securities that had no stocks being offered for sale.
Stocks trading are, AMG Packaging in trading 20,000 shares gaining 30 cents to $2.49, Caribbean Producers ending with 55,000 shares trading, the price gained 5 cents to $2.10, Caribbean Cream finishing with 80,000 shares changing hands at 75 cents, Caribbean Flavours with 43,500 shares trading lower by 1 cent, to end at $2.20. Lasco Distributors concluded trading with 404,380 units, the price fell 10 cents to $1.30, Lasco Financial finished with 34,427 shares trading and fell 5 cents to $1, Medical Disposables in traded 103,776 shares and fell 15 cents to $1.70 and Lasco Manufacturing finished with 420,578 shares trading at $1.18.
Trading activity on the Junior Market closed with only 5 securities trading and ended with 76,353 units valued at $161,387 changing hands. The JSE Junior Market Index rose 0.41 points to close at 693.11, with the price of 1 stock advancing and 2 declining.
At the close of the market, there were 6 stocks with bids higher than their last selling prices and only 1 with the offer that was lower. The junior market closed with 4 securities closing with no bids to buy and 6 securities that had no stocks being offered for sale.
At the close, Honey Bun traded 4,686 shares at $1.95, Knutsford Express Services closed with 15,000 shares trading, 5 cents lower at $5.80, Lasco Distributors ended trading with 14,569 units at $1.40, Lasco Financial Services closed with 37,098 shares changing hands while gaining 5 cents to $1.05 and Lasco Manufacturing lost 1 cent in trading 5,000 shares at $1.18.
Activity Trading on the Junior Market closed with only 5 securities trading and ended with 770,779 units valued at $1,145,965. The JSE Junior Market Index fell 3.76 points to close at 692.70, with the price of 1 advancing and 2 declining.
At the close of the market, there were 7 stocks with bids higher than their last selling prices and 1 stock with the offer that was lower. The junior market closed with 4 securities closing with no bids to buy and 6 closed with no offers to sell.
The stocks trading in the junior market on Friday are, Lasco Distributors trading 277,170 shares at $1.40, after shedding 4 cents. Lasco Financial Services closed with 302,502 shares trading 6 cents higher at $1.06, Lasco Manufacturing ended trading with 127,016 units trading at $1.19, Eppley 10% preference share traded 34,500 units at $6 and Paramount Trading lost 8 cents to close at $3.22 while trading 29,591 shares.
Activity Trading on the Junior Market closed with only 5 securities traded and ended with 510,555 units valued at $1,054,385. The JSE Junior Market Index lost 0.64 points to close at 696.43, with the price only 1 advancing and 1 declining but at the close there were stock ending with bids above the last sale prices, an indication that demand exceed supply in quite a large number of stocks in this market
At the close of the market, there were 7 stocks with bids higher than their last selling prices and none with lower offers. The junior market continues to reflect renewed interest with 4 securities closing with no bids to buy. There were 6 securities that had no stocks being offered for sale.
Paramount Trading ended trading with 155,860 units with the price rising 10 cents to $3.30, General Accident closed trading with 204,610 units at $1.80, Lasco Distributors traded 38,994 shares trading at $1.45, Lasco Financial ended with 107,800 units trading to end at $1 and Honey Bun closed with 3,291 shares trading 5 cents lower to $1.95.
Activity Trading on the Junior Market closed with Paramount Trading closing with a gain of 44 cents or 16 percent as investors responded positively to the company’s strong increase in profits for the November quarter which were released prior to this week. Overall only 7 securities traded and ended with 738,464 units valued at $2,745,022 changing hands. The JSE Junior Market Index rose 3.55 points to close at 697.07, with the price 3 stocks advancing and no declining.
At the close of the market, there were 7 stocks with bids higher than their last selling prices, no stock closed with the offer lower. The junior market continues to maintained investors interest with 4 securities closing with no bids to buy. There were 6 securities that had no stocks being offered for sale.
Stocks trading in the junior market on Monday are, General Accident closing with 231,500 shares changing hands, with a gain of 3 cents to $1.80. Honey Bun finished with 10,000 shares trading, the price gained 5 cents to $2, Paramount Trading closed with 132,824 shares with the price gaining 44 cents to $3.20, the stock traded as high as $3.30 before the close. Caribbean Producers finished with 11,100 units at $2.15, Dolphin Cove ended with 945 shares trading at $8.50, Knutsford Express closed with 302,000 shares at $5.85 and Lasco Distributors finished with 50,095 shares trading at $1.45.
Activity on the Junior Market closed with only 3 securities traded and ended with 166,818 units valued at $202,761. The JSE Junior Market Index slipped 0.70 points to close at 700.75, with the price advancing.
At the close of the junior market indicators continue to point to the likelihood of price gains ahead. At the end of trading on Friday, there were 4 stocks with bids higher than their last selling prices and none with the offer lower. The junior market continues to reflect renewed interest with only 5 securities closing with no bids to buy compared with as many as 11 a few weeks ago. There were 8 securities that had no stocks being offered for sale which is an indication that supply for a third of the junior market stocks are not readily available to trade and most likely will require the bids to be more in line with historical valuation measures.
The three stocks trading are, Lasco Manufacturing gained 1 cent while trading 153,678 shares at $1.20, Honey Bun traded 240 units at $1.71 followed by Lasco Distributors with 12,900 shares at $1.42 after losing 8 cents.
Activity on the Junior Market closed with only 5 securities traded and ended with1,058,166 units valued at $ 1,373,604. The JSE Junior Market Index rose 1.24 points to close at 701.45, with the price 4 advancing and only 1 falling.
At the close of the market, there were 6 stocks with bids higher than their last selling prices and no stock with the offer lower. The junior market continues to reflect renewed interest with 6 securities closing with no bids to buy. There were 7 securities that had no units being offered for sale.
In trading, AMG Packaging closed with 134,952 shares changing hands, gained 1 cent at $2.15. Caribbean Producers ended with 49,100 units, the price rose 4 cents to $2.15, Lasco Distributors had 190,730 shares changing hands, to close with a gain of 6 cents, at $1.50. Lasco Manufacturing ended with 85,503 units changing hands to close 1 cent up to $1.19 and Lasco Financial closed with 597,881 shares changing hands to close 5 cents lower at $1.
Jamaican Teas stock gained the most in the junior market on Wednesday
Heating of raw material to make bottles for Lasco’s new drinks
