Berger heads IC TOP10 Main Market


Berger Paints still heads the IC TOP10 Main Market stocks with the potential to gain 580 percent as the company ends 2026 with less than two months to spare, hopefully unaffected by major dislocations.

During the past week the Jamaica Stock Exchange Main Market closed higher, with the JSE Index closing at 387,081.20, up 1,882.17 points, 0.49 percent, from the the close of 385,199.03 a week earlier and 69,094.32 points, up by 21.73 percent, higher than the 2025 close of 317,986.88. ICTOP10 selection, 138 Student Living led the winners for the week with a gain of 44.19 percent, followed by Sagicor Select Manufacturing and Distribution Fund at 20.83 percent.
Looking forward, the ICInsider.com ICTOP10 forecast for Main Market stocks for 2026 to 2027 puts Berger Paints atop the list at 580 percent, well ahead of the rest of the field, with the company expected to record a major bounce in revenues and profit above the hurricane Melissa-battered 2025 results. JMMB Group is second at 431 percent and Sygnus Credit Investments is third at 418 percent flowing from a solid bounce in its 2026 profits compared with 2025 results. Sygnus Credit Investments also appeared among this week’s top six winners, rising 13.59 percent, so the forecast and recent price action point in the same direction. QWI Investments is fourth at 400 percent, putting four of the top seven at or above that mark. While interest increased recently, following one of the best profit performances since listing in 2019, the forecast for Jamaica Broilers is a 392 per cent gain. Margaritaville is forecast to deliver gains of 264 percent, It was one of the week’s best performers, up by 7.08 percent. Palace Amusement rounds out the top seven at 251 percent, and it too featured among the week’s top gainers with a 16.33 percent rise. Taken together, three of the seven forecast leaders also gained this week.
The ten winners averaged a gain of 16.00 percent, and the ten losers averaged a decline of 6.67 percent.
The six top winners this past week, posted large moves. 138 Student Living surged 44.19 percent, and Sagicor Select Manufacturing and Distribution Fund rose 20.83 percent. Sagicor Select Financial Fund popped 19.57 percent and Palace Amusement rose 16.33 percent. Sygnus Credit Investments eked out 13.59 percent, and First Rock Real Estate Investments closed up 12.36 percent.
On the downside, the six biggest decliners were led by Mayberry Jamaican Equities, with a fall of 12.03 percent. A.S. Bryden and Sons dropped 10.07 percent, and Jamaica Producers declined 8.78 percent. West Indies Petroleum lost 8.27 percent, Lasco Distributors fell 7.78 percent, and Pulse Investments closed down 5.94 percent.

Profits surged 53% at Carib Cement


Profits surged 52.8 percent at Jamaica’s sole manufacturer of cement, Caribbean Cement Company, resulting from 13 percent rise in revenues of $9.3 billion, compared with $8.2 billion in the first quarter of 2025.

“This strong performance was driven primarily by higher sales volumes, reflecting sustained demand in the domestic market associated with ongoing recovery activities following Hurricane Melissa,” management stated.

The improved profit position was helped by a significant gross profit margin improvement of 51 percent, compared with 46% in the corresponding period of 2025. “This improvement was driven by operational efficiencies achieved at the production facility, and management’s continued focus on cost discipline. Following the successful completion of the expansion project in 2025, improved margins, cost stability, and reduced unit production costs compared to last year,” managed stated.

Operating expenses, including administrative, selling and distribution expenses, amounted to $865 million, an increase of 5 percent from $825 million in the prior year.

Earnings per share for the quarter were $3.58, an increase of $1.24 compared to the same period in 2025, and suggest full year earnings of around $14. With the stock price trading at $101.50 on Wednesday, the PE is 7.3, well below the market average.

Net cash flows generated from operating activities ended at $4.2 billion, reflecting an improvement of $1.9 billion over the 2025 first quarter and resulted in cash and cash equivalents of $15.7 billion.  

Access exits TOP 10 at record $47

The Jamaica Stock Exchange, two main market closed at record highs on Friday and there are some changes to the TOP 10 listings. Since IC Insider last reported on the lists, on April 21, Access Financial and Caribbean Cream are out of the list for Junior Market while Berger Paints exited the top 10 for the main market.
In the Junior Market, Lasco Distributors returned to the top list and CAC 2000 entered for the first time and Berger was replaced in the main market by Salada Foods with the price having fallen to $6.50.
Access jumped to a new high of $47 during the week and Caribbean Cream earnings has been downgraded to 70 cents per share for 2018 fiscal year while Berger rose to $16 on the announcement of an increased dividend of 50 cents per share.
The average PE ratio of the Junior Market and the Main Market are currently at an average of 13, on this year’s estimated earnings. At the close of the week, IC Insider.com’s TOP 10 Junior Market stocks continue to trade at an average discount of just under 37 percent to the Junior Market average, those in the main market are trading at a 53 percent discount, to the average of the market, leaving several stocks with room for growth for the rest of the year.
The coming week should be dominated by the release of 2017 first quarter results for the majority of stocks that could result in major changes to the TOP lists.
During the week Pulse Investments announced 2 for 1 stock split.