Falling JSE stocks beat advancers – Wednesday

Kingston Wharves traded at a new intraday high of $17 on Wednesday.

Kingston Wharves traded at a new intraday high of $17 on Wednesday.

The volumes and value of stocks trading on the Jamaica Stock Exchange fell to low levels on Wednesday as the major market indices fell but not as badly as on Tuesday. At the close, the JSE Market Index suffered a mild fall of 45.26 points to end at 158,427.63 the all Jamaica Composite Index slipped by 50.61 points to close at 176,011.82 and the JSE combined index had a fall of 395.82 points, to end at 169,528.24 as the junior market fell.
At the close of the market prices of 8 securities gained out of a total of 38 that traded, with 18 declining in the overall market, including 4 stocks rising and 7 falling, in the junior market. Kingston Wharves traded at a 52 weeks’ intraday high of $17.
Trading closed with 7,500,411 units valued at $23,078,589 changing hands, in all market segments. JSE Sum 24-08-16 The junior market accounted for 1,886,162 units, valued at $8,593,938 of all trades.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 13 stocks with bids higher than their last selling prices and 2 with lower offers.
In market activity, Cable & Wireless traded 72,300 shares and closed at $1.07 after rising by 3 cents, Caribbean Cement traded just 3,000 shares and fell 48 cents to close at $26.20, Carreras lost 5 cents, while trading just 19,533 shares to end at $66.45. The price of 1834 Investments fell 5 cents to close at $1.26, in trading 534,918 shares, Grace Kennedy lost $1 to end at $42.50 with 29,745 shares changing hands, Jamaica Broilers had 44,821 shares changing hands, to end at $14.60. Jamaica Stock Exchange had 16,950 units changing hands to close at $21.50, JMMB Group traded only 2,426 units to end with a loss of 29 cents at $9.51,JSE fn qts 24-08-16ud National Commercial Bank had 20,749 units changing hands and climbed 29 cents to close at $40.79. Pan Jamaican Investments lost 15 cents to close at $25, after trading 30,249 shares, Radio Jamaica traded 254,020 shares, to end at $1.55, Sagicor Group lost 72 cents while only 2,900 shares changed hands, at $21.08, Sagicor Real Estate Fund traded 7,328 shares and fell 50 cents, to close at $9.50. Scotia Group traded unchanged at $30.06 with 41,854 shares changing hands, Supreme Ventures lost 10 cents while 527,552 shares changed hands at $4.80 and JMMB Group 7.50% preference share traded 4 million units but fell 1 cent to a 52 weeks’ low of $1.01.

Big losses for JSE indices on Tuesday

Scotiabank fell $1.44 on Tuesday

Scotiabank fell $1.44 on Tuesday

The volumes and value of stocks trading on the Jamaica Stock Exchange remained moderate on Tuesday but the major market indices fell sharply even as advancing stocks edged out declining ones. At the close, the JSE Market Index suffered a big dived of 2,967.81 points to end at 158,472.89 the all Jamaica Composite Index dropped sharply by 3,319.03 points to close at 176,062.43 and the JSE combined index had a steep fall of 2,986.42 points, to end at 169,924.06.
At the close of the market prices of 16 securities gained out of a total of 40 securities that traded, with 15 declining in the overall market, including 9 stocks, rising and 6 falling in the junior market.
Trading closed with 6,761,304 units valued at $43,160,974 changing hands, in all market segments. The junior market accounted for 2,549,505 units, valued at $12,665,912 of all trades.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the JSE Sum 23-08-16Investor’s Choice bid-offer indicator reading showed 9 stocks with bids higher than their last selling prices and 2 with lower offers.
In market activity, Cable & Wireless traded 777,339 shares and closed at $1.04 after falling by 6 cents, Caribbean Cement traded 157,722 shares and fell 22 cents to close at $26.68, Carreras rose 5 cents, while trading just 8,190 shares to end at $66.50. The price of 1834 Investments rose 1 cent to close at $1.31, in trading 109,046 shares, Grace Kennedy lost 90 cents in ending at $43.50 with 89,591 shares changing hands, Jamaica Broilers had 170,189 shares changing hands, to end at $14.60, Jamaica Producers gained 9 cents to close at $8.41 with 29,234 units trading. Jamaica Stock Exchange had 9,600 units changing hands to close at $21.50, JMMB Group traded 33,575 units to end with a gain of 30 cents at $9.80, Kingston Wharves traded 11,680 shares to close at $16.20, National Commercial Bank had 53,745 units changing hands and fell 50 cents to close at $40.50. Pan Jamaican Investments gained 15 cents to close at $25.15, after trading 19,524 shares, Portland JSX traded 303,134 shares and rose 9 cents, to end at $11.49, JSE fn qts 23-08-16Radio Jamaica traded 24,344 shares, to end at $1.55, Sagicor Group closed with a gain of 30 cents while 71,066 shares changed hands, at $21.80. Sagicor Real Estate Fund traded 1,470 shares and fell 20 cents, to close at $10, Scotia Group lost $1.44 while trading 87,422 shares, to end at $30.06, Scotia Investments closed trading with 37,500 shares at $26. Supreme Ventures lost 9 cents while 191,370 shares changing hands at $4.90, Proven Investments ordinary share, traded 48,300 units at 19.94 US cents compared to 19 US cents on Monday, JMMB Group 7.50%% preference share traded 94,115 units but fell 6 cents to $1.02 and Jamaica Money Market Brokers 7.50% preference share traded 1,874,000 units and ended at $2.10.

Big losses for JSE on Monday

JMMB Group traded 1,790,063 shares but fell 34 cents to $9.50 on Monday.

JMMB Group traded 1,790,063 shares but fell 34 cents to $9.50 on Monday.

Trading on the Jamaica Stock Exchange fell back on Monday to moderate levels compared to the more than $3 billion that traded on Friday when stockbroker, Victoria Mutual Wealth Management was involved in several high volume crosses. Trading resulted in a sharp fall in the indices of the main market in the early morning session which moderated at the close with a loss of 1,053.34 points compared to a fall of 2,649.37 points in the all Jamaican Composite Index after 75 minutes of the market’s opening.
At the close of the market, prices of 16 securities gained out of a total of 40 securities that traded, with 15 declining in the overall market, including 9 stocks rising and 6 falling, in the junior market. Trading closed with 6,073,929 units valued at $48,432,570, changing hands, in all market segments. The junior market accounted for 2,670,477 units, valued at $18,350,360 of all trades.
JSE Sum 22-08-16The JSE Market Index declined by 941.87 points to end at 161,440.70 the all Jamaica Composite Index fell 1,053.34 points to close at 179,381.46 and the JSE combined index slipped 799.41 points, to end at 172,910.48.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 9 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Cable & Wireless traded 150,000 shares and closed at $1.10, Carreras rose 43 cents, while trading just 560 shares to end at $66.45. The price of 1834 Investments rose 1 cent to close at $1.30, in trading 8,177 shares,  Grace Kennedy lost 60 cents in ending at $44.60 with 86,340 shares changing hands, Jamaica Broilers fell 38 cents with 10,287 shares changing hands, to end at $14.60, Jamaica Producers fell 18 cents to close at $8.32 with 23,144 units trading. Jamaica Stock Exchange had 17,093 units changing hands to close at $21.50, JMMB Group traded 1,790,063 units to end with a loss of 34 cents at $9.50, Mayberry Investments lost 14 cents with 19,596 shares trading, to close at $3.81, National Commercial Bank had 10,312 units changing hands, to close at $41. Pan Jamaican Investments gained 1 cent to close at $25 after trading 6,285 shares, Portland JSX traded 4,110 shares and fell 8 cents to end at $11.40, Pulse Investments rose 14 cents to close at $4 with 15,000 shares changing hands, Radio Jamaica traded 131,954 shares to end at $1.55. Sagicor Group closed with a gain of 50 cents while 86,345 shares changed hands at $21.50, Sagicor Real Estate Fund traded 3,120 shares and rose 8 cents, to close at $10.20, Scotia Group lost 20 cents while trading 77,019 shares, to end at $31.50, Scotia Investments closed trading with 2,908 shares at $26. Supreme Ventures had 25,000 shares changing hands at $4.99 and Jamaica Money Market Brokers 7.50% preference share traded 926,000 units and ended at $2.10.

Large $3B trades for JSE on Friday

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VM Wealth were the lead broker on Friday.

VM Wealth were the lead broker on Friday.

Trading on the Jamaica Stock Exchange surged on Friday to more than $3 billion with stockbroker, Victoria Mutual Wealth Management involved in several high volume crosses on Friday, mainly in the morning session. The trades by the brokerage house accounted for the bulk of the stocks that traded on Friday. The heavy trading did not help the Jamaica Stock Exchange market indices, with losses recorded for the three major ones.
At the close of the market prices of 16 securities gained out of a total of 45 securities that traded, with 15 declining in the overall market, including 9 stocks, rising and 6 falling in the junior market.
Trading closed with 210,179,795 units valued at $3,020,175,411 changing hands, in all market segments. The junior market accounted for 35,774,696 units, valued at $989,215,841 of all trades. Today’s trading in equivalent to approximately one month’s trading on the Jamaica Stock Exchange and will therefore Boost the stock exchange’s income for the September quarter.
The JSE Market Index declined by 178.20 points to end at 162,382.57, the all Jamaica Composite Index fell 199.29 points to close at 180,434.80 and the JSE combined index slipped 57.67 points, to end at 173,709.89.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 9 stocks with bids higher than their last selling prices and 3 with lower offers.
In market activity, Berger Paints traded 434,736 shares to end at $5, Cable & Wireless traded 37,248,887 shares and closed at $1.10, Caribbean Cement climbed 90 cents in trading 2,944,476 shares to close at $26.90, Carreras rose 1 cent, while trading 874,902 shares to end at $66.02. JSE Sum 19-08-16The price of 1834 Investments declined by 1 cent to close at $1.29, in trading 1,111,097 shares, Grace Kennedy ended at $45 with 6,820,320 shares changing hands, Jamaica Broilers fell 2 cents with 4,558,519 shares changing hands, to end at $14.98, Jamaica Producers rose 25 cents to close at $8.50 with 8,387,030 units trading. Jamaica Stock Exchange had 74,900 units changing hands to close at $21.50, to record a loss of $2.50, JMMB Group traded 9,784,841 units to end with a loss of 2 cents at $9.84. Kingston Properties gained 11 cents in trading 537,135 units to close at $9.11, Mayberry Investments gained 13 cents with 1,341,876 shares trading, to close at $3.95, National Commercial Bank had 10,312,619 units changing hands, to close at $41. Pan Jamaican Investments shed 1 cent to close at $24.99 after trading 1,505,043 shares, Portland JSX traded 10,455,000 shares and fell 2 cents to end at $11.48, Radio Jamaica lost 11 cents in trading 57,805,532 shares to end at $1.55, JSE fn qts 19-08-16Sagicor Group closed with 6,674,410 shares changing hands at $21. Sagicor Real Estate Fund traded 398,371 shares and fell 13 cents, to close at $10.12, Salada Foods traded 598,045 units and declined by 1 cent, to end at $8.19, Scotia Group rose $1.70 while trading 8,639,508 shares, to end at $31.70, Scotia Investments with 1,026,990 shares traded closed at $26. Seprod gained 1 cent, to close at $19.01 with 23,904 shares changing hands, Sterling Investments had 2,673,905 units trading to end at $13, Proven Investments ordinary share traded 69,200 units at 19.95 US cents, down by a fraction of a US cent and Jamaica Public Service 9.5% preference share with 99,931 units trading to close at $1,247.

JSE trades over $1.36B in early session – Friday

Trading on the Jamaica stock exchange surged on Friday to more than $1.36 billion with stockbrokers, Victoria Mutual Wealth Management (VMW), crossing a series of stocks that dominated trading. By 10:45 am the market indices slipped slightly for the main market and rose moderately for juniors as 13 stocks gaining versus 8 that fell.
The main traded done by VMW are 10,156,665 National Commercial Bank shares at $41.22 in two lots on behalf of clients shortly after trading opened on the Jamaica Stock Market on Friday morning. JSE Intra - 19-08-16Other stocks crossed by VMW are CAC 2000 with 813,386 units at $6.01, JMMB Group with 9,170,806 units at $9.88, Portland JSX 10,000,000 units at $11.49 and Sagicor Group with 6,513,985 units at $21.97 and Sweet River Abattoir with 4,664,000 units at $3.84. Sterling Investments 2,668,905 units at $13.01, Others stocks crossed by VMW include Jamaica Public Service 9.5% preference share with 99,931 units at $1,247, Lasco Distributors 8,055,942 at $7.02, Lasco Manufacturing 7,592,810 shares at $4.94, Scotia Group with 8,528,008 units at $31.70 and Scotia Investments with 1,025,875 shares at $26.
At 10:45 am 30 securities traded, resulting in a volume of 71,959,810 shares changing hands. The large trades done VMW accounted for more than $850 million in the value of trading in the early morning session. The average number of shares traded amounts to 2,248,744 units compared to 37,167 units on Thursday.
The all Jamaica Composite Index fell 122.62 points to 180,511.47 the Jamaica Stock Exchange Market Index slipped 109.65 points to 162,451.12, the Jamaica Stock Exchange combined index lost 62.71 points to close at 173,704.85 and the junior market index rose 3.80 points to 2,243.59.

JSE jumps again on Thursday

Scotia Group dropped by $2.43 on the JSE on Thursday.

Scotia Group dropped by $2.43 on the JSE on Thursday.


The Jamaica Stock Exchange surged for the second straight day with all three main indices closing sharply higher at the end of trading on Thursday, even as Scotia Group fell back by $2.43 as well as National Commercial Bank and Sagicor Group by $1 each. Gains in Carib cement, Jamaica Broilers, Portland, Sagicor X Fund and Supreme Ventures offset the big losers.
At the close of the market prices of 17 securities gained out of a total of 40 securities that traded, with 16 declining in the overall market, including 6 stocks, rising and 6 falling in the junior market.
Trading closed with 9,321,811 units valued at $97,260,492 changing hands, in all market segments. The junior market accounted for 3,881,493 units, valued at $11,818,736 of all trades.
JSE Sum 18-08-16The JSE Market Index jumped 865.34 points to end at 162,560.77, the all Jamaica Composite Index climbed 967.74 points to close at 180,834.09 and the JSE combined index surged 898.41 points, to end at 173,767.56.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 12 stocks with bids higher than their last selling prices and just 1 with a lower offer.
At the end of market activities, Berger Paints traded 85,404 shares to end at $5, Cable & Wireless traded 211,098 shares and closed at $1.10 after falling 5 cents, Caribbean Cement climbed 75 cents in trading 7,400 shares to close at $26, Carreras rose 1 cent, in trading 141,600 shares to end at $66.01. The price of 1834 Investments declined by 10 cents to close at $1.30, in trading 96,436 shares, Grace Kennedy ended at $45 with 49,232 shares changing hands, Jamaica Broilers rose 49 cents with 3,000 shares changing hands, to end at $15, Jamaica Producers rose 5 cents to close at $8.25 with 885,713 units trading. Jamaica Stock Exchange had 12,000 units changing hands to close at $24, and record a gain in price of $2.50, JMMB Group traded 500,479 units to end with a loss of 1 cent at $9.86. Mayberry Investments lost 28 cents with 43,869 shares trading, to close at $3.82, JSE fn qts 18-08-16 National Commercial Bank had 179,619 units changing hands, to close at $41 after falling by $1.Pan Jamaican Investments shed 20 cents to close at $25 after trading 12,977 shares,Portland JSX traded 462,413 shares and rose 50 cents to end at $11.50, Pulse Investments traded 25,000 shares to close at $3.86, Radio Jamaica lost 4 cents in trading 292,253 shares to end at $1.66, Sagicor Group shed $1 with 1,027,275 shares changing hands at $21. Sagicor Real Estate Fund traded 350,000 shares and climbed 25 cents to close at $10.25, Scotia Group dropped $2.43 while trading 4,815 shares to end at $30, Seprod gained 10 cents to close at $19 with 320,579 shares changing hands. Supreme Ventures gained 29 cents and ended at $4.99, with 393,464 units changing hands and Jamaica Money Market Brokers Ltd 7.50% preference share, traded 324,092 units at $2.09.

JSE surges on Wednesday

Scotia Group jumped $3.42 on the JSE on Wednesday.

Scotia Group jumped $3.42 on the JSE on Wednesday.

The Jamaica Stock Exchange recorded a surge in the two main indices at the end of trading on Wednesday as Scotia Group jumped $3.42, National Commercial Bank gained $1.75 and Sagicor rose by $1. In the end, the prices of 10 securities gained out of a total of 27 securities that traded, with 9 declining in the overall market, including 3 stocks, rising and 3 falling in the junior market.
Trading closed with 4,964,196 units valued at $46,303,821 changing hands, in all market segments. The junior market accounted for 1,960,611 units, valued at $11,818,736 of all trades.
The JSE Market Index jumped 1,243.35 points to end at 161,695.43, the all Jamaica JSE Sum 17-08-16Composite Index surged 1,390.50 points to close at 179,666.35 and the JSE combined index climbed 1,075.20 points, to end at 172,869.15.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 15 stocks with bids higher than their last selling prices and 7 with lower offers.
At the end of market activities, Cable & Wireless traded 1,444,611 shares, with the price range for the day, being a low of $1 and a high of $1.16 but it closed at $1.15, Caribbean Cement fell 26 cents in trading 10,175 shares to close at $25.25. Carreras rose 50 cents, in trading 28,721 shares to end at $66, the price of 1834 Investments remained unchanged at $1.40, in trading 99,165 shares, Grace Kennedy fell $1 and ended at $45 with 73,530 shares changing hands,JSE fn qts 17-08-16 Jamaica Broilers traded with the price unchanged with 170,389 shares to end at $14.51. Jamaica Producers rose 20 cents to close at $8.20 with 496,696 units trading, Jamaica Stock Exchange had 2,600 units changing hands to close at $21.50, JMMB Group traded 17,438 units to end at $9.87. Kingston Wharves traded 1,000 shares to close at $16 after rising 45 cents, National Commercial Bank had 25,262 units changing hands, to close at $42 after rising by $1.25. Pan Jamaican Investments shed 10 cents to close at $25.20 after trading 32,999 shares, Sagicor Group gained $1 with 1,010 shares changing hands at $22. Scotia Group jumped $3.42 while trading 575,810 shares to end at $32.43 after opening at $29.01 and Seprod fell 9 cents and closed at $18.90 with 20,904 shares changing hands.

JSE falls on Tuesday

 NCB fell $1.25 to help the JSE indices fall .

NCB fell $1.25 to help the JSE indices fall .

The Jamaica Stock Exchange recorded losses in the two main indices at the end of trading on Tuesday. In the end, the prices of 17 securities gained out of a total of 41 securities that traded, with 15 declining in the overall market, including 8 stocks, rising and 4 falling from the junior market.
Trading closed with 6,763,382 units valued at $72,594,150 changing hands, in all market segments. The junior market accounted for 1,683,513 units, valued at $7,988,309 of all trades.
The JSE Market Index fell 164.30 points to end at 160,452.08, the all Jamaica Composite Index lost 183.75 points to close at 178,275.85 and a sharp rise in the prices of junior market stocks helped push the JSE combined index up by 687.44 points, to end at 171,793.95.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator reading showed 11 stocks with bids higher than their last selling prices and 4 with lower offers.
JSE Sum 16-08-16At the end of market activities, Barita Investments lost 20 cents and ended trading 40,000 units, to close at $2.80, Berger Paints fell 16 cents in trading 8,500 units, to close at $5, Cable & Wireless traded 122,850 shares but gained 5 cents to close at $1.15, Caribbean Cement fell $1.49 in trading 7,350 shares to close at $25.51. Carreras rose 45 cents, in trading 171,221 shares to end at $65.50, the price of 1834 Investments gained 2 cents, in trading 62,658 shares, to end at $1.40, Grace Kennedy fell 50 cents and ended at $46 with 216,244 shares changing hands, Jamaica Broilers dropped 49 cents in trading 41,665 shares to end at $14.51. Jamaica Producers rose 10 cents to close at $8 with 6,971 units trading, Jamaica Stock Exchange had 42,200 units changing hands to close at $21.50, JMMB Group traded 2,537,927 units to end with a rise of 1 cent at $9.87. Kingston Wharves traded 8,200 shares to close at $15.55 after rising 45 cents, JSE fn qts 16-08-16Mayberry Investments gained 15 cents and ended with 10,086 shares trading to close at $4.10, National Commercial Bank had 62,942 units changing hands, to close at $40.25 after falling $1.25. Pan Jamaican Investments gained 10 cents to close at $25.30 after trading 50,062 shares, Radio Jamaica gained 5 cents to close at $1.70 after 59,429 shares changed hands, Sagicor Group fell 50 cents with 246,165 shares changing hands at $21, Sagicor Real Estate Fund traded 25,500 shares but lost 22 cents to close at $10. Scotia Group traded 11,402 shares to end at $29.01 after rising by 1 cent, Supreme Ventures closed at $4.70 with 1,232,612 shares changing hands, Proven Investments ordinary share traded 8,300 units at 19.97 US cents compared to 19.98 US cents on Monday and JMMB Group 7.50% preference share traded 87,835 units at $1.10.

JSE stocks end with gains – Monday

Exchange place The Jamaica Stock Market main market made gains in the two main indices at post losses at the end the close of trading on Monday. At the end of trading with the prices of 14 securities gaining out of a total of 46 securities that traded, with 19 declining in the overall market, including 5 stocks, rising and 9 falling from the junior market.
Trading closed with a volume of 3,417,026 units valued at $37,563,031 changing hands, in all market segments. The junior market accounted for 1,526,008 units traded, valued at $8,120,692 of all trades.
The JSE Market Index climbed 531.05 points to end at 160,616.38, the all Jamaica Composite Index gained 593.90 points to close at 178,459.60 and a sharp fall in the prices of junior market stocks pressured the JSE combined index in losing 330.86 points, to end at 171,106.51.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the JSE Sum 15-08-16Investor’s Choice bid-offer indicator reading showed 11 stocks with bids higher than their last selling prices and 4 with lower offers.
At the end of market activities, Barita Investments ended trading with 396,428 units, to close at $3, Berger Paints climbed 36 cents in trading 3,766 units, to close at $5.16, Cable & Wireless traded 156,837 shares but lost 5 cents to close at $1.10, Caribbean Cement fell 99 cents in trading 5,403 shares to close at $27. Carreras fell $1.22, in trading 5,028 shares to end at $65.05, the price of 1834 Investments gained 3 cents, in trading 43,192 shares, to end at $1.38, Grace Kennedy ended at $46.50 with 210,612 shares changing hands, Jamaica Broilers dropped 54 cents in trading 1,720 shares to end at $15. Jamaica Producers dropped 30 cents to close at $7.90 with 87,115 units trading, Jamaica Stock Exchange had just 300 units changing hands to close at $21.50, JMMB Group traded 162,686 units to end at $9.86. JSE fn qts 15-08-16 Kingston Wharves traded 37,739 shares to close at $16 after rising 45 cents, Mayberry Investments ended with 5,937 shares trading to close at $3.95, National Commercial Bank had 111,022 units changing hands, to close at $42 after falling 50 cents. Pan Jamaican Investments lost 10 cents and closed at $25.20 after trading 7,635 shares, Radio Jamaica fell 8 cents to close at $1.65 after 70,322 shares changed hands, Sagicor Group rose 5 cents with 79,743 shares changing hands at $21.50, Sagicor Real Estate Fund traded 500 shares but gained 22 cents to close at $10.22. Scotia Group traded 26,125 shares to end at $29 after rising by $1.90, Supreme Ventures loss 10 cents to $4.70 with 221,427 shares changing hands, Proven Investments ordinary share traded 210,900 units at 19.98 US cents.

Sagicor Group flat Q2 profit

Sagicor Group HQ - the stock closed at $21.45 on Friday.

Sagicor Group HQ – the stock closed at $21.45 on Friday.

Sagicor Group recorded a 15 percent increase in profit attributable to Stockholders of $4.31 billion for the six-months ending June 2016, over last year, resulting in earnings per stock unit of $1.10 compared to 96 cents. The company was not as fortunate in the second quarter as earnings were flat at $2.4 billion from a jump of 10 percent in revenues to $15.3 billion.
Total Comprehensive Income jumped sharply in the quarter to $5.7 billion from $1.9 billion at June 2015 and for the six months it stood at an impressive $8 billion versus $3 billion in 2015.
Expenses climbed 13 percent to $12.28 billion including administrative cost that rose 16.4 percent to $3.88 billion. Segment results show mixed fortunes, with Individual Lines slipping 9 percent to $800 million, down from $875 million, Employee Benefits jumped sharply by 49 percent to $1.87 billion, while Investment Banking grew by 6 percent, to $850 million. Commercial Banking fell 28 percent or $228 million to $585 million as write down of tax recoverable, took $250 million out of profits, in 2015 the group indicated that results for this segment was boosted by higher than expected recoveries on delinquent loans. Other segment jumped $220 million or 148 percent to $368 million while the company share of Sagicor Real Estate Fund contributed $153 million in the quarter and $329 million for the six months against no earnings in 2015.
Sagicor’s main focus is on the sale of personal insurance related products and banking, its success will be its ability to manage funds it receives and use in investment.
The group reported earnings of $2.51 for 2015 and with the performance this year to June, full year earnings should end up around $2.90, suggesting the stock should rise in the months ahead with the PE ratio at 7 times 2016 earnings versus an average of 9 for the main market. The stock last traded on Friday on the Jamaica Stock Exchange at $21.45.
At the end of June, equity attributable to stockholders climbed to $51.69 billion up from $46.57 billion, while total assets climbed 7.3 percent to $322.4 billion from $300.4 billion at the end of December 2015.
Outlook – “Our Group continued to produce good results in all areas. We are seeing the benefits of our business growth, digital and service-oriented strategies. We expect the second half year to be even better than the first,” Chairman, Danny Williams and CEO, Richard Byles, told shareholders, in the report of directors accompanying the financials.
Sagicor paid an interim dividend of $2.58 billion to stockholders or 66 cents per share, in April this year which is 69 percent higher than the $1.52 billion or 39 cents per share for the similar period in 2015. A second dividend is expected before the end of 2016. An interim dividend of 34 cents per share was paid to shareholders in November 2015.