Activity on the Junior Market closed with just 4 securities traded, ending with 91,421 units changing hands valued at $373,999. The JSE Junior Market Index remained unchanged at 717.77, with the price of 1 stock advancing and 1 declining.
At the close of the market, there were 2 stocks with bids higher than their last selling prices and 2 stocks with offers that were lower. The junior market ended with 6 securities closing with no bids to buy and there were 6 securities that had no stocks being offered for sale.
Stocks trading in the junior market are, Blue Power closing unchanged at $6.50 after trading 16,412 shares, Lasco Distributors lost 1 cents in closing at $1.50 with 7,870 shares, Lasco Financial Services put on 1 cents in closing at $1.16 as 30,374 units were traded and Eppley 9.5% preference shares traded
36,765 units at $6.
Only 4 stocks trade in Junior market
Juniors record gains Friday
Activity on the Junior Market was over shadowed by movements in the main market on Friday, with only 5 stocks trading resulting in moderate gains in prices, in contrast to the rise of nearly 2,000 points in the all Jamaica Composite index. The JSE Junior Market Index rose 4.90 points to close at 703.11. The market closed with 123,876 units valued at $316,167 changing hands. Thee price of 2 stocks advanced and none declined.
At the close of the market, there were 4 stocks with bids higher than their last selling prices and 1 stock with a lower offer. 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, Access Financial traded 10.000 shares and closed 1 cent higher at $9.40, Dolphin Cove closed with 300 shares changing hands, 30 cents higher to $8.80, Lasco Financial traded 48,559 shares at $1.05, Lasco Manufacturing closed with 30,987 shares traded at $1.20 and Sweet River Abattoir ended at $3.86 with 34,030 shares changing hands.
Lasco Financial profit up 50%
Profit at Lasco Financial jumped a noticeable 50 percent, in the December 2014 quarter, on rising revenues of 11 percent. The company recorded profit of $68 million in the quarter versus $46 million in 2013 and recorded a 33 percent rise in its nine profit to $181 million from $136 million.
Lasco reported improvement in gross profit margin of 152 percent, in the December quarter, from 108 percent in the same period in 2013, the margin, year to December, is 155 percent from 137 percent in the nine months of 2013. Administrative expense rose by 8 percent for the quarter and 13 percent year to December while marketing expenses fell 8 percent in the quarter but was up 9 percent year to date, compared with the prior year, but still below the rise in revenues.
Earnings per share for the quarter amounted to 6 cents and for the nine months 15 cents. Earnings for the full year to March should end up around 20 cents per share. The stock now priced at $1, remains a buy, with prospects for increased profits for 2015/16.
The company is listed on the Jamaica Stock Exchange junior market and is primarily involved in cambio and money transfer and has with equity of $795 million no debt, and cash funds of $502 million.
Demand for some junior stocks, supply low
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.
Juniors slip on low activity
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.
