Rising stocks edged out decliners in trading on the Jamaica Stock Exchange Main Market on Friday, but stock trading firm beat out all of the above, following a 47 percent fall in the volume of stocks traded at 40 percent lower value than on Thursday, with trading in 63 securities compared to 61 on Thursday, with prices of 21 stocks rising, 19 declining and 23 ending unchanged.
The market closed with 4,649,405 shares trading for $79,455,741 down from 8,718,855 units at $132,519,420 on Thursday.
Trading averaged 73,800 shares at $1,261,202 compared with 142,932 units at $2,172,450 on Thursday and month to date, an average of 831,372 units at $3,540,38 from 891,863 units at $3,722,377 on the previous day and March that averaged 828,473 units at $2,341,254.
Kingston Wharves led trading with 890,307 shares for 19.1 percent of total volume followed by JMMB 9.5% preference share with 810,423 units for 17.4 percent of the day’s trade and Transjamaican Highway with 672,372 stocks for 14.5 percent market share.
The All Jamaican Composite Index lost 3,372.85 points to end the day at 358,878.15, the JSE Main Index fell 2,142.25 points to lock up trading at 322,041.87 and the JSE Financial Index slipped 1.09 points to conclude trading at 68.74.
The Main Market ended trading with an average PE Ratio of 13. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, AS Bryden popped $1.45 and ended at $39.45 with investors transferring 9 shares, Barita Investments slipped 85 cents to $71.15 after an exchange of 18,855 stocks, Berger Paints rallied 36 cents in closing at $5.70 with a transfer of 7,753 units. Caribbean Cement sank $1.40 to finish at $56.50 with 446,118 stock units crossing the market, Eppley lost $1.09 to end at $38.90 as investors exchanged 300 shares, Eppley Caribbean Property Fund shed $2.97 to close at $37.02 in switching ownership of 529 units. GraceKennedy dropped 94 cents to end at $73 with traders dealing in 187,546 stocks, Guardian Holdings fell 50 cents and ended at $369.50 after 98 stock units passed through the market, Jamaica Producers dipped 67 cents to end at $22.22 with 1,082 shares changing hands. Margaritaville increased $1.42 in closing at $15.53 in an exchange of 4 stocks, Massy Holdings climbed $1 to finish at $91 with investors swapping 24,992 stock units, Mayberry Jamaican Equities declined 50 cents to close at $10 in an exchange of 100,402 stock units. NCB Financial skidded 50 cents to $62.50 after investors traded 11,015 shares, Pan Jamaica rose 50 cents to close at $48 with an exchange of 12 stocks, Sagicor Group gained 64 cents in closing at $41.14 with 4,040 units clearing the market. Seprod advanced 80 cents to end at $82 and closed with 6,857 stock units changing hands and Wisynco Group rose 32 cents and ended at $21 with an exchange of 32,814 shares.
In the preference segment, Productive Business Solutions 9.75% preference share gained $4.99 to finish at $115 with investors trading just one stock unit.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More TTSE stocks rose than fell
Rising stocks beat out those declining on Friday, with one closing at a 52 weeks’ high but trading ended on the Trinidad and Tobago Stock Exchange on Friday, with the primary indices declining after 17 securities were traded compared with 18 on Thursday and ending with prices of eight rising, five declining, with four unchanged as investors traded 181 percent more stocks than on Thursday as the value surged 169 percent.
The market closed with an exchange of 888,399 shares for $7,274,583 up from 315,653 stocks at $2,709,242 on Thursday.
An average of 52,259 shares were traded at $427,917 up from 17,536 units at $150,513 on Thursday, with trading month to date averaging 15,774 shares at $168,973 compared to 13,135 stock units at $150,250 on the previous day and an average for March of 28,236 shares at $236,496.
The Composite Index fell 3.53 points to 1,201.56, the All T&T Index dropped 3.87 points to end at 1,807.29, the SME Index remained at 77.71 and the Cross-Listed Index shed 0.44 points to settle at 77.45.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and seven with lower offers.
At the close, investors traded 36,363 shares of Agostini’s to end at $69, Endeavour Holdings jumped $1.25 to finish trading at a 52 weeks’ high of $16.25 after an exchange of just 3 units, First Citizens Group gained 5 cents to end at $48.15 after investors traded 1,834 shares. FirstCaribbean International Bank ended at $7.04 after 14,609 stocks were traded, GraceKennedy popped 5 cents to close at $3.95 after a transfer of 6,000 shares, JMMB Group rallied just 1 cent to finish at $1.49 with investors trading 16,725 stocks. L.J. Williams B share ended at $1.99 in switching ownership of one unit, Massy Holdings increased 6 cents to $4.36 with 782,440 stock units changing hands, National Flour Mills rallied 5 cents in closing at $2.25 with investors dealing in 1,313 shares. One Caribbean Media shed 8 cents to finish at $3.72, with 400 stocks crossing the market, Prestige Holdings slipped 1 cent to $13.99 after an exchange of 138 units, Republic Financial dropped 70 cents to close at $118.25 and closed with 5,588 stock units being traded. Scotiabank advanced 40 cents to $69.95 in an exchange of 3,056 shares, Trinidad & Tobago NGL popped 48 cents in closing at $8.98, with 151 stock units crossing the market, Trinidad Cement remained at $2.97 in an exchange of 60 units. Unilever Caribbean sank 40 cents to close at $11.16 with 18,825 stocks passing through the market and West Indian Tobacco dropped $1.93 to finish at $11.07 with an exchange of 893 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading spreads on JSE USD Market
Investors participated in a wide selection of stocks in trading on the Jamaica Stock Exchange US dollar market on Thursday, resulting in trading in 11 securities, compared to 10 on Wednesday with prices of three rising, four declining and four ending unchanged, with the volume of stocks traded declining 93 percent with an 89 percent lower value than on Wednesday.
The market closed with an exchange of 66,053 shares for US$5,574 compared to 1,005,394 units at US$50,711 on Wednesday.
Trading averaged 6,005 units at US$507 versus 100,539 shares at US$5,071 on Wednesday, with a month to date average of 33,620 shares at US$2,132 compared with 36,785 units at US$2,318 on the previous day and March that ended with an average of 49,394 units for US$3,593.
The US Denominated Equities Index popped 1.69 points to culminate at 240.75.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.3. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and none with a lower offer.
At the close, AS Bryden lost 0.51 of one cent to 22.49 US cents after a transfer of 1,800 shares, First Rock Real Estate USD share gained 0.01 of a cent to close at 4.03 US cents in trading 9,001 units, Margaritaville remained at 10 US cents in switching ownership of 850 shares. Proven Investments rose 0.98 of one cent in closing at 14 US cents with investors trading 2,023 stock units, Sterling Investments dipped 0.19 of a cent to end at 1.51 US cents with 13,127 shares clearing the market, Sygnus Credit Investments rallied 0.04 cent to finish at 7.99 US cents after an exchange of 6,396 stock units. Sygnus Real Estate Finance USD share ended at 9 US cents after 221 stocks crossed the market and Transjamaican Highway fell 0.01 of a cent to end at 2.18 US cents as investors exchanged 30,867 units.
In the preference segment, JMMB Group US8.5% preference share ended at US$1.19 with 1,663 stocks crossing the market. JMMB Group 5.75% skidded 10 cents to US$2 with investors swapping 9 shares and Sygnus Credit Investments E8.5% ended at US$10.70 as 96 units passed through the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Light trading on Trinidad Exchange
Trading remained soft on the Trinidad and Tobago Stock Exchange on Thursday, with the volume of stocks traded rising 129 percent but was valued 13 percent less than the prior day and resulting in 18 securities changing hands compared with 20 on Wednesday and ending with prices of three stocks rising, five declining and 10 remaining unchanged.
The market closed with an exchange of 315,653 shares for $2,709,242 compared to 138,141 stock units at $3,123,131 on Wednesday.
An average of 17,536 shares were traded at $150,513 compared with 6,907 stock units at $156,157 on Wednesday, with trading month to date averaging 13,135 shares at $150,250 compared with 12,770 units at $150,226 on the previous day and an average for March of 28,236 shares at $236,496.
The Composite Index slipped 1.73 points in ending trading at 1,205.09, the All T&T Index declined 5.09 points to settle at 1,811.16, the SME Index was unchanged at 77.71 and the Cross-Listed Index popped 0.26 points to wrap-up trading at 77.89.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and four with lower offers.
At the close of the market, Agostini’s ended at $69, with an exchange of 1,391 shares, Angostura Holdings remained at $22.74 trading 113 units, Ansa McAl ended at $55 and closed with an exchange of 12,576 shares. Calypso Macro Investment Fund ended at $22.60 after investors traded 892 stock units, First Citizens Group ended at $48.10 in swapping 4,411 shares, FirstCaribbean International Bank rallied 3 cents to $7.04 with an exchange of 110 units. GraceKennedy ended at $3.90 with 10,000 stocks changing hands, JMMB Group popped 3 cents to $1.48 with investors transferring 140,813 stock units, Massy Holdings ended at $4.30 in an exchange of 103,257 shares. National Flour Mills remained at $2.20 with investors trading 2,740 units, One Caribbean Media fell 2 cents and ended at $3.80 with 1,295 stocks clearing the market, Prestige Holdings ended at $14 as investors exchanged 130 stock units. Republic Financial skidded 5 cents in closing at $118.95 with 3,939 shares crossing the market, Scotiabank sank 43 cents to $69.55 with traders dealing in 1,834 stocks, Trinidad & Tobago NGL ended at $8.50 in switching ownership of 481 stocks. Trinidad Cement popped 12 cents to end at $2.97 after 260 stock units passed through the market, Unilever Caribbean dropped $1.09 to end at $11.56 with a transfer of 99 stocks and West Indian Tobacco lost 1 cent to close at $13 with investors dealing in 31,312 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Profit bolts 79% at AMG
Profit continued to surge at AMG Packaging in the February quarter, up 79 percent to $32 million from $18 million in 2023, the performance is better than the 72 percent rise in the first quarter. For the six months to February, profit was also up 79 percent to $84 million from $47 million in 2023.
Sale revenues rose by just one percent for the quarter, to $250 million from $247 million and popped 4 percent for the year to date, to $522 million from $501 million in 2023.
Two main features are at play resulting in improved performance. The company installed new multi-coloured machinery in early 2023 that measures and determine the cut for boxes which has helped in cutting operating costs as it is far more efficient than the original ones. Secondly, the price of paper declined in 2023 from 2022 and has carried over into the current year, the result is that raw material costs declined to 41 percent of revenues in the second quarter from 53 percent in 2023.
Historically, profit was stuck for years between $37 million and $62 million from 2017 to 2021 . In 2022 profit jumped to $105 million following a revenues surge of 41 percent over 2021 but fell back to $89 million in 2023 with some one-off cost, helping in pushing the profit down, otherwise it would have exceeded that of 2022. ICInsider.com projects profit to come in around $225 million for this fiscal year ending in August.
Manufacturing costs declined by 12 percent in the February quarter to $154 million from $175 million and by 9 percent year to date, to $325 million from $356 million. Gross profit margin rose a significant 36 percent in the quarter to $96 million from $72 million and climbed even more for the half year to 39 percent to $197 million from $145 million in 2024.
Administrative expenses rose 18 percent to $33 million in the quarter and increased 19 percent in the six months to $66 million. Depreciation charges increased by 26 percent to $13.5 million in the quarter, and the half year to $26 million. Finance cost declined in the quarter, to $1.8 million from $2 million in 2024 and from $4.2 million to $3.6 million for the six months.
The operations generated $130 million in Gross cash flow, after paying dividends of $51 million and increased working capital needs, net flows were negative and pulled down the cash on hand from of $297 million in 2023 to $252 million.
Current assets ended the period at $651 million and include trade and other receivables of $143 million, up from $123 million in 2023, and cash and bank balances of $252 million, representing an increase over $144 million in 2023. Inventories rose a bit from $240 million to $255 million. Current liabilities at the half way marker amount to $152 million. Net current assets ended the period at $500 million.
At the end of February, shareholders’ equity amounts to $1.29 billion with long term borrowings of just at $66 million and short term at $19 million.
Earnings per share for the quarter amounts to 6 cents and 14 cents for the half year. IC Insider.com computation projects earnings around 45 cents per share for the current fiscal year, with a PE of 8 times the current year’s earnings based on the price of $3.59 the stock traded at on the Jamaica Stock Exchange Junior Market. Net asset value ended the period at $2.53 with the stock selling at a premium of 41 percent to book value.