Margaritaville Turks was one company delivering improved revenues and profit for the 2023 period to August versus 2022, mostly reflecting improvement in tourism traffic to the Caribbean region.
The company operates a restaurant solely in the Turks and Caicos Islands, and delivered revenues of US$1.8 million in the August 2023 quarter, up 27 percent from US$1.42 million in the prior year and produced gross profit of $1.33 billion this year versus US$1.033 million in the previous year.
Net profit came in at US$230,000 for the quarter against US$94,000 in 2022, even as administrative expenses climbed to US$979,000 from US$833,000 in the previous year, with depreciation charge being flat at US$69,000. Other operating expenses amount to US$44,000, with none incurred in the last year and finance cost was just US$6,000 for the current year, down from US$29,000 in the last year’s first quarter.
The operations generated a gross cash flow of US$300,000, but US$496,000 advanced to a related party, resulting in negative flows of US$74,000, reducing cash funds to a mere $49,151.
Margaritaville located in the Turks & Caicos Islands
Current assets ended the period at US$3.8 million and include US$2.7 million due from related companies, up from US$2.2 million in 2022. Current liabilities ended the period at US$1.96 million, from US$1.89 in 2022. Net current assets ended the period at US$1.8 million.
At the end of August, shareholders’ equity amounts to US$4.2 million, with long term borrowings at US$166,808 and short term at US$100,000.
Earnings per share for the quarter was 0.34 US cents, up from 0.14 US cents for the August 2022 quarter. IC Insider.com computation projects earnings of 2 US cents per share for the fiscal year ending May 2024, with a PE of 6.5 times the current year’s earnings based on the price of 12.7 US cents the stock traded on the Jamaica Stock Exchange, with an average PE of 12. Net asset value ended the period at 6 US cents, with the stock selling at two times book value.
Six securities traded, down from eight on Monday, with prices of two rising, three declining and one ending unchanged.
In trading, First Rock Capital USD share closed at 6.99 US cents with 40,025 shares changing hands, Margaritaville dropped 0.45 of a cent to 9 US cents trading 119,609 units, Proven Investments rose 0.06 of a cent to 23.94 US cents in an exchange of 5,985 stocks. Sygnus Credit Investments USD share rose 0.06 of a cent to 12.5 US cents after an exchange of 26,900 stock units and Transjamaican Highway lost 0.02 of a cent to end at 0.86 US cents in switching ownership of 15,000 stocks.
Trading ended with five securities changing hands compared to six on Thursday, with prices of one stock rising, three declining as one remained unchanged.
Investor’s Choice bid-offer indicator shows two stocks ended with the bid higher than its last selling price and two with lower offers.
The Jamaica Stock Exchange, US dollar market, closed on Tuesday, with modest trading as just four securities changed hands. Trading resulted in only 4,926 shares valued at US$4,838 trading as the recently listed Trans Jamaica Highway that traded recently in mostly large volumes exchanged just 10,004 shares at the close.
With trading resuming on the Main Market of the Jamaica Stock Exchange on Friday after the two days break for the Christmas holidays, investors pushed the market down on higher volume but lower value than on Tuesday. 
PanJam Investment fell 60 cents to $99.50, with 64,308 shares crossing the exchange. Pulse Investments dropped 86 cents to end the day at $4.10, with a whopping 60,013,935 shares changing hands. Sagicor Group dropped $3 to close at $66 with an exchange of 13,050 shares, Supreme Ventures lost 50 cents to end at $25, after exchanging 65,195 shares and Sygnus Credit Investments lost $1.86 to end at $25.14 with 34,783 stock units trading.
Amazingly, while the JSE main market has been recording several record highs this year and the Junior market is up more than 10 percent for the year, the US dollar market has gone in the opposite direction. 
$8 million of the 2017 earnings was non-recurring, coming from gain on acquisition of a subsidiary. Importantly, the company suffered from the revaluation of the Jamaican dollar in the last half of the fiscal year, resulting in a loss of $444,000 but resulted in a $3.3 million turn from gains of $2.9 million in 2017. Even without the benefit of foreign exchange gains profit from ongoing operations was up nearly 100 percent from $6.6 million to $12.6 million for the year. The first quarter results that are expected to be released next week should show recovery from the FX losses. “All our segments are doing well and this year should be our best ever” Christopher Williams, President of the Company told IC Insider.com. “We await regulatory approval for the investment brokerage company in the Cayman Island,” Williams stated.
Prices mostly tumbled on the Main Market of the Jamaica Stock Exchange on Monday leading to the JSE All Jamaican Composite Index dived 3,788.87 points to 307,935.64 and the JSE Index dropped 3,452.09 points to 280,564.20.
Market activity resulted from JMMB 6% preference shares falling 2 cents in ending at US$1.08 with 2,000 stock units, Margaritaville rose 5 cents, concluding trading of 1,750 units at 25 US cents, Productivity Business finished trading at 55 US cents with 870 shares and Proven Investments trading 1,500 ordinary shares at 22 US cents.
In the market activity, volume and prices quoted are amounts traded for the day at the last trading price. In the main activity, Cable & Wireless ended trading 1 cent higher at $1, with 640,469 stock units, Caribbean Cement dropped $2.59 to $26.01, with just 400 units, Carreras traded 542,284 shares, to close at $12. Grace Kennedy fell 45 cents to end at $43, with 49,438 shares, Jamaica Broilers traded 49 cents higher at $18.99, with 6,020 stock units. Jamaica Producers settled with a loss of $1 at $15, with 93,586 shares, Jamaica Stock Exchange traded with a loss of 20 cents at $7.60, with 1,739 stock units, JMMB Group closed $2.50 higher at a record close of $25, with 371,074 shares. Kingston Properties traded with a loss of 20 cents at $7.20, with 1,400 stock units, 
Kingston Wharves concluded trading at $31.50, with 4,080 units. 1834 Investments concluded trading at $1.38, with 1,843 shares, PanJam Investment settled $2.15 higher at $44, with 5,905 stock units, Radio Jamaica settled at $1.15, with 2,500 shares, Sagicor Group settled 3 cents higher at $34.53, with 23,475 stock units, Sagicor Real Estate Fund ended at $13.08, with 300 units changing hands. Salada Foods finished at $8.50, with 10,000 stock units, Scotia Group ended trading $1.98 higher at $50.98, with 185,115 stock units, Seprod traded $1.95 higher at $30, with 13,026 shares and Supreme Ventures ended with a loss of $1 at $11, with 1,783,545 shares.
Caribbean Cement rose $1.2 to $28.50, with 17,475 shares, Carreras surged $1.35 to a new 52 weeks high of $13.50, with 544,289 stocks units, Grace Kennedy ended at $43, trading 1,307,292 shares, Jamaica Broilers closed with a loss of 10 cents at $18.50, with 961,908 stocks units traded. Jamaica Producers concluded trading at $15.50, with 313,406 units, Jamaica Stock Exchange settled 50 cents higher at $8, with 104,300 shares, JMMB Group traded with a gain of 75 cents at $23, with 55,994 units, Kingston Wharves ended with a loss of $1 at $31, with 177,500 stocks units, NCB Financial had 166,223 shares changing hands after falling $1.40 to end at $86.60. The remanent of former Gleaner Company, 1834 Investments ended with a loss of 2 cents at $1.38, with 1,000 units changing hands, PanJam ended $1.50 higher at $42.50, with 350,918 units, Portland JSX concluded trading with a loss of 2 cents at $9.28, with 16,570 units. 
Proven Investments traded 541,000 units and rose 4 cents at $25.05, Pulse Investments concluded trading with a loss of 30 cents at $1.40, with 52,264 units, Radio Jamaica finished 4 cents higher at $1.15, with 294,243 stocks units, Sagicor Group ended trading at $34.53, with 7,095,313 units, Sagicor Real Estate X Fund rose 30 cents to $13.80, with 1,200 units, Scotia Group finished with a loss of $1.90 at $46.10, with 772,000 units, Seprod settled at $30, with 2,785 shares, Sterling Investments concluded trading 5 cents higher at $12.05, with 201,700 stocks units and Supreme Ventures concluded trading 30 cents higher at $10.81, with 123,652 stocks units.
Jamaica Producers lost 50 cents to close at $14.50 with 23,685 stock units, Jamaica Stock Exchange fell 4 cents, to $6.46 with 61,389 units trading, JMMB Group settled with a loss of 20 cents at $22.50 trading 158,134 shares. Kingston Properties exchanged 200 units at $6.80, having lost 20 cents, Kingston Wharves traded $2.23 higher to $30.74 with just 2,700 units, Mayberry Investments settled at $4.10 with 12,135 units, NCB Financial gained 62 cents to close at $87.50 trading 193,108 shares, 138 Student Living closed at $4.75 with trades of 12,334 units. PanJam Investment exchanged 123,149 shares at $35, Portland JSX lost 5 cents, in trading 1,500 units at $9.25, Pulse Investments closed at $1.80 with 47,470 shares, Radio Jamaica closed at $1.12 trading 103,200 shares, Sagicor Group rose 25 cents, to settle at $34.25 with 346,129 stock units changing hands, Sagicor Real Estate Fund gained 55 cents, closing at $12.05 with 41,155 shares, Scotia Group closed $1.90 lower to $44.10 exchanging 631,765 stock units, after it traded at $49, the high for the day. Scotia Investments lost 1 cent and closed at $35.50 with 1,845 units, Seprod declined by $1 to $33 with 3,000 units, Supreme Ventures lost 9 cents to close at $11 with 218,690 shares trading.
