Limners and Bards

3 days listing triples the Lab’s value

July 30, 2019 by IC Insider.com

Investors in the advertising agents, Limners and Bards (the Lab) saw their investment tripling, with just three days of listing on the Junior Market, helping to push the market index to a record closing high.
The Lab that went to the market at an IPO price of $1, climbed to $3 at the close of trading on Tuesday since listing on Friday.
The stock is one of 36 securities changing hands on Tuesday, just outpacing the 34 that traded on Monday, as prices of 20 securities advanced, 10 declined and 6 remained unchanged.
At the close, the Junior Market Index surged 56.51 points to close at record closing high of 3,440.92, surpassing the 3,436.31 points reached on September 20 last year and is now up 6 percent for the year, after falling as high as 9.6 percent
Market activities resulted in an exchange of 16,230,256 units valued at $62,517,388 compared to 6,233,349 units for $30,586,927 on Monday.
Trading ended with an average of 450,840 units for an average of $1,736,594 in contrast to 183,334 units for an average of $899,616 on Monday. The average volume and value for the month to date amounts to 119,198 units with a value of $473,306 for each security traded, compared to 100,126 units with a value of $397,886 traded previously. June ended with an average of 166,169 units at $674,841 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks closing with bids higher than their last selling prices and 3 closed with lower offers.
Stocks ending with price changes| AMG Packaging climbed 25 cents in exchanging 211,701 shares at $2.35, Blue Power closed with a loss of 20 cents at $14.20, in swapping of 97,552 shares, CAC2000 closed 95 cents higher at $15.90, with 300 stock units trading. Caribbean Cream climbed 7 cents and exchanged 10,200 shares at $5, Caribbean Flavours ended with a loss of 1 cent at 16.06 with 222 stock units changing hands, Consolidated Bakeries closed 9 cents higher at $2.09, with 82,817 stock units trading, Dolphin Cove lost 5 cents in trading of 23,890 units to close at $12. Derrimon Trading declined 10 cents in trading of 29,570 units to end at $2.60, Express Catering declined 5 cents in trading of 126,784 units at $6.25, Everything Fresh shed 10 cents in trading of 68,688 units at $1.20, Elite Diagnostic closed trading of 47,406 units and gained 25 cents to end at $5.65. Fosrich Group ended trading with 68,472 shares, after rising 26 cents to end at $4.96, Fontana ended trading with 1,382,871 shares, after rising 10 cents to end at $8.50. General Accident traded 77,987 shares, after rising 5 cents to end at $4.55, GWest Corporation gained 1 to end at $1.55, trading 4,000 shares, Honey Bun climbed 5 cents in exchanging 27,032 shares at $5.35, Indies Pharma closed 14 cents higher at $3.20, with 112,635 stock units trading. Jamaican Teas closed trading of 941,400 units and gained 25 cents to end at $5, Jetcon Corporation fell 25 cents in trading of 33,752 units at $1.70, Knutsford Express lost 2 cents in trading of 12,000 units at $10.98, Lasco Financial ended trading with 1,427,673 shares, after rising 1 cent to end at $4.60. Lasco Manufacturing ended trading 133,549 shares, after rising 15 cents to end at $4.35, Limners and Bards closed 85 cents higher at $3, with 9,233,651 stock units trading, Medical Disposables ended trading of 11,800 shares, after rising 50 cents to end at $7.50, Main Event lost 35 cents in trading of 5,000 units at $7. Paramount Trading closed trading of 1,000 units and gained 10 cents to end at $2.40, Iron Rock Insurance closed trading of 7,046 units and gained 20 cents to end at $4.10. Stationery and Office Supplies declined 80 cents to settle at $11.40 after trading 5,000 shares, Sweet River ended trading with 4,000 shares, after rising 19 cents to end at $2.75, tTech ended trading of 19,690 shares, after rising 70 cents to end at $5.90.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Cargo Handlers, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Dolphin Cove, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, Fontana, FosRich, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, Stationery and Office, Trading Activity, tTech

The Lab doubles price in two days

July 29, 2019 by IC Insider.com

Kimala Bennett, Managing Director of The Lab.

Advertising agents, Limners and Bards, the most recent listing on the Junior Market, more than doubled the $1 IPO price since listing on Friday, after rising 80 cents on Monday to close at $2.10.
The stock is one a day when 34 securities changed hands, down from 30 on Friday, as prices of 11 securities advanced, 12 declined and 11 remained unchanged.
At the close, the Junior Market Index climbed 41.05 points to close at 3,384.41 and is now up 4 percent for the year.
Market activities, resulted in an exchange of 6,233,349 units valued at $30,586,927, compared to 4,017,691 units amounting to $20,933,388 on Friday.
By the close of trading, Blue Power ended at a 52 weeks’ closing high of $14.40 and Stationery and Office Supplies ended at a 52 weeks’ high of $12.20 but Jamaican Teas that traded at a 52 weeks’ high of $5.99 failed to hold this price at the close.
Trading ended with an average of 183,334 units for an average of $899,616 in contrast to 133,923 units for an average of $697,780 on Friday. The average volume and value for the month to date amounts to 100,126 units with a value of $397,886 for each security traded, compared to 95,347 units with a value of $356,070 traded previously. June ended with an average of 166,169 units at $674,841 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks closing with bids higher than their last selling prices and one closed with a lower offer.
Stocks ending with price changes|AMG Packaging exchanged 47,666 shares to close at $2.10 after falling 14 cents, Blue Power ended trading with 61,676 shares, after rising 90 cents to close at a 52 weeks’ high of $14.40, Blue Power closed 90 cents higher at $14.40, with 61,676 stock units trading. CAC2000 declined 15 cents in trading of 41,845 units to close at $14.95, Caribbean Cream close with a loss of 7 cents at $4.93, ion the swapping of 31,728 shares, Caribbean Flavours gained $2.07 to end at $16.07 with 1,512 stock units changing hands, Caribbean Producers ended with a loss of 1 cent at $4.79 trading 19,752 stock units. Consolidated Bakeries closed trading of 148,767 units and gained 10 cents to end at $2, Derrimon Trading closed 5 cents higher at $2.70, with 34,264 stock units trading. Express Catering climbed 5 cents, exchanging 122,992 shares at $6.30, Elite Diagnostic ended trading with 66,571 shares, after rising 8 cents to close at $5.40, Fontana lost 10 cents in trading of 845,254 units to close at $8.40, Gwest Corporation ended with a loss of 1 cent at 1.54 with 203,184 stock units changing hands. Honey Bun lost 75 cents in trading of 31,241 units to end at $5.30, Indies Pharma closed 4 cents higher at $3.06, with 35,000 stock units trading, Jamaican Teas dipped 25 cents in trading of 2,059,280 units to end at $4.75, after trading at a 52 weeks’ high of $5.99 earlier. Jetcon Corporation closed 5 cents higher at $1.95, with 58,152 stock units trading, Limners and Bards traded 69,589 units and gained 85 cents to end at a record of $2.15 after trading at an intraday high of $2.40, Lasco Financial ended with a loss of 1 cent at $4.59 with 1,564,185 stock units changing hands. Lasco Manufacturing close with a loss of 5 cents at $4.20, in swapping 100,663 shares, Main Event lost 64 cents in trading of 12,141 units at $7.35. Paramount Trading closed 30 cents higher at $2.30, with 500 stock units trading, Stationery and Office Supplies gained $1.20 to end at a record close of $12.20, trading 2,268 shares and tTech declined 30 cents in trading of 5,000 units at $5.20.

Prices of securities trading for the day are those at which the last trade took place.

The Lab jumps IC TOP 10

July 28, 2019 by IC Insider.com

Fresh from its recent successful IPO, shares of Limners and Bards (The Lab) were listed on the Junior Market on Friday.
Just 100 shares traded at $1.30 but the stock ended with the bid at $1.65 and it dropped out of the IC Junior Market TOP 10.
The Lab earnings for the current fiscal year to October is poised to be in the region of 13 cents per share. With the bid at $1.65, the PE is 12 with not many Junior Market stocks selling above this level. The bulls have now descended on the Junior Market and could well deliver a premium valuation for the company’s stock that will be scarce.
Lasco Manufacturing enters the Junior Market TOP 10 while Jamaica Broilers price dip to $32 and came into the Main Market TOP 10 at the expense of Seprod with the price rising from $46 last week to $48.40.
In the past week, the main market continues to hit new record highs, closing the week at an all-time high on its way to over 700,000 points for the All Jamaica Index. Momentum continues to move the market away from long-term resistance at 520,000 points. The Junior Market rose during the week and recovered all of the 2019 losses and more and is less than 100 points away from the all-time high of 3,436 points in September last year. Technical indicators point to the record be taken out soon and could happen this week with more results due.
The three most attractive Junior Market stocks are Caribbean Producers with projected gains of 233 percent, followed by Iron Rock with projected gains of 208 percent and tTech with possible gains of 191 percent.
Sterling Investments heads the main market with potential gains of 156 percent followed by Sygnus Credit Investments with 137 percent and Berger Paints in third spot and likely to gain 132 percent by March next year.
The main market closed the week with the overall PE at 15.8 and the Junior Market moved up from 10.20 last week to 11.4 as the market recovered grounds lost in the first half of the year. The PE ratio for Junior Market Top 10 stocks averages 7.6 and the main market PE 9. These levels, point to big upside for TOP 10 stocks over the next 12 months and Junior Market stocks in particular as they lag by far, the values of the main market.
The TOP 10 stocks now trade at an average discount of 34 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 43 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have an interest in the securities commented on.

Filed Under: Buy Rated Tagged With: Berger Paints, Caribbean Producers, Daily Trading, Emerging markets, General Accident, Jamaican Stock Exchange, Jamaican stocks, Jamaican Teas, junior market, Lasco Financial, Limners and Bards, Main Event, Medical Disposables, Palace Amusement, Radio Jamaica, Sagicor Group, Stanley Motta, Sterling Investments, Stocks to Watch, TOP 10 stocks, Trading Activity, tTech, Victoria Mutual Investments

The lab up 30% first day on Junior Market

July 26, 2019 by IC Insider.com

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Limners and Bards started trading on the Junior Market but only 100 shares officially traded, as the price hit the 30 percent limitation at the first trade and no other investor was willing to sell at that price.
The stock closed at an all-time high of $1.30 but with the bid at $1.65 on a day when 30 securities changed hands, down from 34 on Thursday, as prices of 16 securities advanced, 10 declined and 4 remained unchanged.
The Junior Market Index climbed 25.27 points to close at 3,343.36 on Friday, and in so doing moved strongly into the black for 2019 with gains of 3 percent for the year.
Market activities, resulted in an exchange of 4,017,691 units amounting to $20,933,388, compared to 2,463,608 units valued at $13,106,397 on Thursday.
By the close of trading, Blue Power traded at a 52 weeks’ high of $16.30 but closed at $13.50 and Elite Diagnostic that traded at a 52 weeks’ high of $6.25 but failed to hold this price at the close.
Trading ended with an average of 133,923 units for $697,780 for each security trading, in contrast to 72,459 units for an average of $385,482 on Thursday. The average volume and value for the month to date amounts to 95,347 units with a value of $356,070 for each security traded, compared to 93,288 units with a value of $337,830 traded previously. June ended with an average of 166,169 units at $674,841 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks closing with bids higher than their last selling prices and one closed with a lower offer.
Stocks ending with price changes| AMG Packaging declined 6 cents in trading of 6,670 units to close at $2.24, Consolidated Bakeries ended trading with 71,706 shares, after rising 10 cents to end at $1.90, Express Catering declined by 10 cents to settle at $6.25 in exchanging 8,100 shares, Everything Fresh dipped 20 cents in trading of 111,225 units at $1.30. Elite Diagnostic declined 68 cents in trading of 352,923 units to end at $5.32, Fosrich Group lost 5 cents in trading of 38,336 units at $4.70, Fontana ended trading with 695,683 shares, after rising 30 cents to end at $8.50, General Accident gained 21 cents to end at $4.50 in trading of 137,985 units. Honey Bun lost 10 cents in trading 6,500 shares to close at $6.05, iCreate ended market activity in exchanging 7,050 shares to close at 70 cents after falling 3 cents, Indies Pharma lost 4 cents in trading 242,376 shares to close at 3.02 cents, Iron Rock Insurance ended trading with 1,500 shares, after rising 15 cents to end at $3.90. Jamaican Teas closed trading of 1,141,127 units and gained 7 cents to end at $5, Jetcon Corporation ended trading with 8,200 shares, after rising 5 cents to end at $1.90, Knutsford Express closed 10 cents higher at $11, with 2,973 stock units trading, Key Insurance closed trading of 953 units and gained 20 cents to end at $3.90. KLE Group closed 1 cent higher at $1.73, with 1,155 stock units trading, Limners and Bards climbed 30 cents to settle at a record high of $1.30 with just 100 shares changing hands, Lasco Distributors closed 15 cents higher at $3.15, with 54,500 stock units trading, Lasco Financial gained 1 to end at $4.60, trading 546,846 shares. Lasco Manufacturing ended trading with 41,900 shares, after rising 5 cents to end at $4.25, Medical Disposables climbed 31 cents in exchanging 22,800 shares at $7, Main Event ended with a loss of 1 cent to close at $7.99 with 7,062 stock units changing hands. Paramount Trading closed trading of 35,551 units and gained 22 cents to end at $2, Stationery and Office Supplies fell 1 cent to close at $11 with 5,885 stock units changing hands and tTech climbed 40 cents and exchanged 127 shares at $5.50.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: AMG Packaging, Best performing stock market, Blue Power, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, Fontana, FosRich, General Accident, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Limners and Bards, Main Event, Medical Disposables, Paramount Trading, Stationery and Office, Trading Activity, tTech

Pretax profit up 18% at the Lab

July 26, 2019 by IC Insider.com

Limners and Bards (the Lab) reports pretax profit of $72 million half year to April, up 18 percent versus $61 million last year on revenues of $334.5 million compared to $261 million in 2018.
After-tax profit for the six months ends at $57 million, up 9 percent against $53 million in 2018. For the quarter to April revenues brought in $145 million and delivered pretax profit of $30 million against revenues of $136 million and pretax profit of $24.5 million.
The data suggest seasonality in earnings with full-year’s income of $483 million for the year to October last year and profit before tax of $76.5 million. The 2018 half year’s revenues amounted to 54 percent of income. Of significance is a sharp fall in operating expenses from $100 million in the second quarter of 2018 to $88 million in the 2019 period even as revenues rose resulting in gross profit rising from $36 million to $57 million. For the six-month period, gross profit moved from $100 million to $125 million. Partially offsetting the gross profit improvement is a $15 million in the second quarter is a rise in administrative expenses to $26 million in the quarter but was only up by $11 million for the half-year to $51 million.
The stock was listed on the Junior Market of the Jamaica Stock Exchange today at traded a small amount at $1.30 but closed with bids to buy at $1.65.

Filed Under: Breaking News, Company News, Company Results Tagged With: Emerging markets, Jamaica Stock Exchange, Jamaican Stock, junior market, Limners and Bards, The Lab

Over 21,500 apply for Sagicor Select

July 26, 2019 by IC Insider.com

Investors plunked down $6 billion in more than twenty-one thousand five applications, to buy the 5 billion shares recently offered by Sagicor Select Funds in an initial Public Offer, information reaching IC Insider.com confirmed.
The heavy subscription by retail investors strained the resources of Sagicor Investments in coming with the allocation within six business days specified by the Jamaica Stock Exchange.
In a release on the delay in the allocation, the broker for the issue advised that Sagicor Financial Select Fund are unable to submit the details and basis of allotment pursuant to its IPO that closed its subscription list on Tuesday, July 16th within the prescribed time. “The reason for the abovementioned delay is the unexpectedly high volume of applications received in the IPO which we estimate, as at the date of this letter, to be approximately twenty thousand.”
The broker advised that they continue to process applications and expects to be in a position to submit the details and basis of allotment by July 30, with refunds to applicants to be done by August 2.
At the same time investors in Limners and Bards share issue that closed on the same day of opening, last week had their account at the JCSD credited on Thursday, with the shares allocated to them.

Filed Under: Company News Tagged With: Emerging markets, Jamaica Stock Exchange, Jamaican Stock, Limners and Bards, Sagicor Select Funds, The Lab

Investors push Fontana from IC TOP 10

July 21, 2019 by IC Insider.com

Fontana traded at a record $9.

Fontana hits a record high of $9 during trading on Friday but pulled back to close at $7.41 still higher than the $6.07 it closed at the end of the prior week and pushing the stock out of the Top 10.
Caribbean Flavours replaced Fontana in the Junior Market top 10. In the main market, Palace Amusement with opening of the Sunshine Palace scheduled for late July or early August, is expected to add to revenues and profit, replaced Jamaica Broilers.
Limners and Bards (The Lab) with a successful IPO this past week, remains on the Junior Market TOP 10. Radio Jamaica came in for increased buying in the past week that pushed the price to a 52 weeks’ high of $1.40 but pulled back on Friday, as selling pushed the price down, to close at $1.24.
In the past week, the main market continues to hit new record highs, closing the week at a near all-time high on its way to over 700,000 points for the All Jamaica Index. Momentum continues to move the market away from long-term resistance at 520,000 points. The Junior Market rose during the week and recovered losses suffered in the first half of the month. The market is still consolidating, waiting for profit results to help move it higher as it is currently highly undervalued.
The three most attractive Junior Market stocks are, Iron Rock with potential gains of 240 percent, followed by Caribbean Producers with projected gains of 238 percent and tTech with possible gains of 214 percent.
Sterling Investments heads the main market with 179 percent potential gains followed by Sygnus Credit Investments with 167 percent and Palace Amusement in third spot with the potential to gain 162 percent by March next year.
The main market, closed the week with the overall PE at 15.2 and the Junior Market at 10.20. The PE ratio for Junior Market Top 10 stocks averages 7.1 and the main market PE 8.6. These levels, point to a big upside for TOP 10 stocks over the next 12 months and Junior Market stocks in particular.
The TOP 10 stocks now trade at an average discount of 30 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 43 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have interest in the securities commented on.

Filed Under: Buy Rated Tagged With: Berger Paints, Caribbean Producers, Consolidated Bakeries, Daily Trading, Emerging markets, General Accident, Grace Kennedy, Jamaican Stock Exchange, Jamaican stocks, Jamaican Teas, junior market, Lasco Financial, Limners and Bards, Main Event, Medical Disposables, Palace Amusement, Radio Jamaica, Sagicor Group, Stanley Motta, Sterling Investments, Stocks to Watch, Sygnus Credit Investments, TOP 10 stocks, Trading Activity, tTech, Victoria Mutual Investments

Investors need the Lab’s April results

July 11, 2019 by IC Insider.com

There is a good reason why stock markets require listed companies to report on their performance quarterly.
Quarterly results provide investors with critical information on a timely basis about the fortunes of a company’s operation and allow investors to make better investment decisions.
When a company goes public with financial information that is nearly six months old when a lot may have happened since the last report that is unacceptable. Information, profits and interest rates are three important things that drive stock prices. It is so critical for pertinent information to be make available to the public for rational decision making.
This publication finds it unacceptable that Limners and Bards are going to the market in July to raise capital with the last results included in the prospectus being January this year, nearly 6 months ago. What is worse, there are no projected earnings in the prospectus to guide investors with fresh capital being injected with the IPO proceeds.
The historical records hardly help in making a rational decision on what the 2019 earnings could be. The first quarter figures for 2019 shows that the profit made in the 2018 period was just about half of the full year’s figure but investors have to guess how the 2019 profit out-turn will be. Information gleaned by this publication, is that April’s second quarter numbers are known and are said to be around the same level as that of the first quarter. The big question is why is this information or some indication of post January results not mention in the prospectus for all to see?
The world’s best performing stock market cannot keeping living with the world’s worse investment practices.

Filed Under: Feature Stories, Initial Public Offers Tagged With: Emerging markets, Jamaica Stock Exchange, Jamaican Stock, junior market, Limners and Bards

The Lab IPO opens July 17

July 10, 2019 by IC Insider.com

The Limners and Bards (The Lab) will be offering 189,138,050 ordinary shares at the subscription price of $1 each to the public and preferred applicants with only 50 million units of the amount earmarked for the general public.
The stock comes to the market with a PE of 10 times 2018 earnings on a pretax basis and about 8.3 times 2019 estimated earnings, if it is assumed that the increased profit in the first quarter of 2019, continues for the rest of the year. These PE are below the average of the market and is suggesting a bounce when listed.
Profit of $76.5 million was made in the year to October 2018 from revenues of $483 million reflecting a major improvement over a small loss in 2017 of $2 million from revenues of $291 million.
Unfortunately, the company has only reported interim figures, to January. With more than 6 months having elapsed since, there are no guidance on what has happened since and can be expected going forward. There are no forecasted earnings, even with fresh capital injection expected. Investors should not have to do wild guesses as to what the future may hold when management is in a far better position to guide them.
For the first quarter this year, revenues climbed 52 percent to $189 million from $124 million in 2018 while profit before tax grew just 16 percent to $42 million for earnings per share of 5.5 cents. Without any historical quarterly information or guidance of likely earnings, it is impossible to say what the out turn will be for the rest of the year. The 2018 fiscal year numbers, suggest that there are seasonality in its operations as the profit for the full 2018 year is just a little over twice the amount earned in the 2018 first quarter, even as revenues for the full year were 4 times that earned in the 2018 first quarter.
The offer opens July 17 and is scheduled close on July 31. Funds raised will be used for expansion and to finance a targeted acquisition. IC Insider.com will post a fuller report at a later date.