Market activity on the Trinidad & Tobago Stock Exchange ended Thursday, with 14 securities trading, against 15 on Wednesday, with 4 stocks advancing, 2 declining and 8 remaining unchanged.
Trading volume remained low, resulting in 293,550 shares valued at $2,488,584 changing hands, compared to 186,626 shares valued at $3,719,226 on Wednesday.
At close, the Composite Index gained 0.84 points on Thursday to 1,263.90, the All T&T Index rose 1.95 points to 1,700.29, while the Cross Listed Index shed 0.04 points to close at 111.63.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 1 stock with the bid lower than the last selling price and 5 with lower offers.
Gains| Clico Investments closed with an increase of 1 cent and completed trading at $20.16, with 24,533 units, First Citizens finished 19 cents higher and concluded at a 52 weeks’ high of $32.70, after exchanging 2,000 shares, JMMB Group rose 1 cent and ended at $1.86, with 39,000 stock units changing hands and Sagicor Financial added 4 cents and completed trading at $7.80, with 47,615 units.
Losses| Ansa McAl shares fell 5 cents and completed trading at a 52 weeks’ low of $59.95, with 19 units changing hands and First Caribbean International Bank closed with a loss of 15 cents at $9.35, after exchanging 59,150 shares.
Firm Trades| Grace Kennedy ended trading at $3.15, with 99,926 units, Massy Holdings ended at $47, with 250 stock units changing hands, National Flour settled at $1.68, after exchanging 1,824 shares, Republic Financial Holdings ended at $101.58, with 600 stock units changing hands, Scotiabank settled at $62.56, after exchanging 3,480 shares. Trinidad & Tobago NGL concluded trading at $27.25, after exchanging 11,138 shares, Trinidad Cement ended at $2.60, with 4,000 stock units changing hands and West Indian Tobacco settled at $88.55, after exchanging just 15 shares.
Prices of securities trading for the day are those at which the last trade took place.
4 stocks rise on TTSE 2 fall – Thursday
More TTSE stocks rise than fall – Wednesday
Market activity on the Trinidad & Tobago Stock Exchange ended Wednesday, with 15 securities trading, against 14 on Tuesday, with 5 stocks advancing, 3 declining and 7 remaining unchanged.
Trading volume remained low, resulting in 186,626 shares valued at $3,719,226 changing hands, compared to 117,881 shares valued at $1,542,037 on Tuesday.
At close, the Composite Index lost 1.08 points to 1,263.06, the All T&T Index declined 0.98 points to 1,698.34, while the Cross Listed Index shed 0.16 points to close at 111.67.
IC bid-offer Indicator|At the end of trading, on Wednesday, the Investor’s Choice bid-offer indicator reading shows 2 stocks with bids lower than their last selling prices and 5 with lower offers.
Gains| First Citizens finished trading with a gain of 1 cent at $32.51, after exchanging 1,622 shares, JMMB Group closed with an increase of 10 cents at $1.85, with 50,990 stock units changing hands, One Caribbean Media ended trading and gained 4 cents to end at $12.48, with 10,000 stock units changing hands, Sagicor Financial closed with a rise of 1 cent and completed trading at $7.76, with 23,935 units and West Indian Tobacco concluded trading 5 higher at $88.55, after exchanging 707 shares.
Losses| Grace Kennedy fell 10 cents and completed trading at $3.15, with 5,000 units, Massy Holdings closed with a loss of 40 cents and ended at $47, with 2,482 stock units changing hands and National Enterprises shed 4 cents and completed trading at $9.75, with 500 units.
Firm Trades| Angostura Holdings ended at $15.72, with 500 stock units changing hands, Clico Investments completed trading at $20.15, with 7,379 units, National Flour settled at $1.68, after exchanging 27,397 shares. Republic Financial Holdings ended at $101.58, with 15,598 stock units changing hands, Scotiabank settled at $62.56, after exchanging 109 shares. Trinidad & Tobago NGL concluded market activity at $27.25, after exchanging 4,407 shares and Unilever Caribbean completed trading at $32, with 36,000 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Stocks marking time on TTSE
Trinidad & Tobago Stock Exchange Head Quarters
Market activity on the Trinidad & Tobago Stock Exchange ended Tuesday, trading in 14 securities, with modest price changes, against 9 on Thursday, with 2 stocks advancing, 4 declining and 8 remaining unchanged.
Trading resulted in 117,881 shares valued at $1,542,037 changing hands, compared to 264,376 shares valued at $2,045,015 on Thursday.
At close, the Composite Index gained 0.21 points on Tuesday to 1,264.14, the All T&T Index rose 0.41 points to 1,699.32, while the Cross Listed Index remained unchanged to close at 111.83.
IC bid-offer Indicator| At the end of trading, on Tuesday, the Investor’s Choice bid-offer indicator reading shows 3 stocks with bids lower than their last selling prices and 5 with lower offers.
Gains| Angostura Holdings gained 2 cents and settled at $15.72, with 25 stock units changing hands and Republic Financial Holdings advanced 3 cents and closed at $101.58, with 173 stock units changing hands.
Losses| Clico Investments fell 1 cent and closed at $20.15, with 11,200 units trading, Prestige Holdings closed with a loss of 4 cents and ended at $10.01, after exchanging 50 shares. Scotiabank fell 9 cents to $62.56, after exchanging 50 shares and Trinidad & Tobago NGL concluded trading with a fall of 50 cents at $27.25, after exchanging 8,905 shares.
Firm Trades| First Caribbean International Bank ended at $9.50, after exchanging 32,499 shares, First Citizens closed at $32.5 after exchanging 20,465 shares, Guardian Holdings ended at $16.00, after 16 shares were exchanged, LJ Williams B share added completed trading at 70 cents, after trading 10,000 shares. National Enterprises closed at $9.79, with 900 units, National Flour ended at $1.68, after 28,571 shares changed hands, Trinidad Cement concluded trading at $2.60, with 5,000 stock units changing hands and Unilever Caribbean concluded trading at $32, with 27 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Trinidad recession bites Guardian Media hard
Guardian Media profit falls sharply since 2014.
A sharp fall in sale revenues in 2017, at Trinidad’s Guardian Media left the company hugging a small loss for the year ending December, according to an abridged quarterly report.
Profit dropped 94 percent in the 2017, to TT$488,000, for the December quarter before tax, from $8.5 million in 2016, but rose to $1.9 million after a tax credit of $1.4 million from a net profit of just $400,000 in 2016. For the year, the media house recorded a loss of TT$3 million after tax, from a profit after tax of $6.3 million in 2016, resulting in negative earnings per share of 8 cents.
Revenues fell 20.6 percent in the December 2017 quarter to TT$36 from $45 million and 16 percent to TTS$138 million from $164 million for the year.
The 2017 results is in stark contrast to 2015 when the company posted $35 million after tax and TT$34 million in 2014 from revenues in excess of $195 million for both years.
Cash flow brought in amounted to TT$20 million but capital payments and investments activities including paying $24 million in dividends used up $27 million, leaving cash at $72 million. Shareholders’ equity at the end of December, stood at TT$278 million, down from $305 million in 2016. Current assets ended the year at TT$131 million well ahead of current liabilities of TT$49 million.
According to the company’s chairman Peter Clarke, in his report included with the results, “2017 was a year of transition for Guardian Media as it implemented a number of planned structural changes. These changes included: (1) print automation systems to improve efficiency; (2) internal restructuring to lower the cost base and further improve the efficiency and quality of content creation and (3) re-alignment of teams to better serve our customers and fully equip the company for the digital media landscape. The one-time costs of these changes are reflected in these results. Parallel to this, the country’s economic slowdown has had a considerable impact on advertising spend across all sectors.”
The stock last traded at TT$17.98 in November on the Trinidad and Tobago Stock Exchange (TTSE), but now has an offer at $16.38. Net asset value is TT$6.66 per stock, with the stock offered for sale at 2.46 times book value. The company is a subsidiary of Ansa McAl which is also listed on the TTSE.
Angostura Holdings 2017 profit drops 9%
Angostura Holdings aged rum.
Profit at Trinidad’s Angostura Holdings dropped 8 percent in the 2017, to TT$154 million before tax on profit and was down 9 percent to TT$111 million after tax.
The 2017 out turn, resulted in earnings per share of 54 cents, with profit coming from a 7 percent fall in sale revenues, to TT$575 million. Profit declined sharply from 2015 when the company posted $164 million after tax, compared to TT$153 million in 2014 and TT$122 in 2016.
Despite the fall in sales gross profit margin rose to 64 percent from 60 percent in the 2016, as operating cost fell 18 percent. Other income declined to a loss of TT$6 million from a loss of TT$1 million while interest income rose to TT$2.3 million from TT$642,000 in 2016.
Marketing and sales expenses declined by 4 percent to TT$131 million while administrative expenses rose a hefty 24 percent to TT$82 million from TT$66 million in 2016. Finance cost declined to TT$844,000 from TT$1 million in 2016.
Cash flow brought in TT$161 million but capital payments and receipts included put aside in net new investments of TT$118 million resulted in net outflows of TT$30 after paying TT$56 million in dividends. Shareholders’ equity stands at TT$982 million at the end of December, with borrowings at just TT$20 million. Current assets ended the period TT$765 million well ahead of current liabilities of TT$98 million and cash and investment rose to TT$369 million from TT$281 million in 2016.
The stock traded at TT$15.70 on the Trinidad and Tobago Stock Exchange with a PE ratio of 29 times 2017 earnings. The company paid a dividend of 27 cents down from 32 cents in 2016. Net asset value is TT$4.78 with the stock selling at 3.28 book value.
In spite of the fall in profit since 2015, the stock price have remained around the $16 range from then resulting in the PE ratio rising sharply by nearly 50 percent.
First Caribbean to list on NYSE
FirstCaribbean International Bank closed at a 52 weeks’ high on Thursday.
First Caribbean International Bank traded at a new high on the Trinidad & Tobago Stock Exchange, after the bank announced that they filed application with the Securities Commission for listing of the shares on the New York Stock Exchange.
The bank with branches sprawled all over the economically troubled Caribbean basin reported improved profit results in the quarter ending January with profit rising by 13.2 percent from US$33.77 million to US$38.24 including minority interest, as loans grew modestly over the one year period, from US$6.14 billion to US$6.34 billion.
Market activity ended with 9 securities changing hands compared to 14 securities on Wednesday, with 4 stocks advancing, 2 declining and 3 remaining unchanged. Trading resulted in 264,376 shares valued at $2,045,015 changing hands, compared to 156,799 shares valued at $1,663,812 on Wednesday.
At close, the Composite Index gained 1.10 points on Thursday to 1,263.93, the All T&T Index gained 0.40 points to 1,698.91, while the Cross Listed Index rose shed 0.25 points to close at 111.83.
IC bid-offer Indicator|At the end of trading, on Thursday, the Investor’s Choice bid-offer indicator reading shows 6 stocks with bids lower than their last selling prices and 5 with lower offers.
Gains| First Caribbean International Bank rose 15 cents and settled at a 52 weeks’ high $9.50, after exchanging 123,125 shares. National Enterprises closed with a gain of 4 cents and completed trading at $9.79, with a mere 30 units, Scotiabank gained 9 cents and settled at $62.65, after exchanging 262 shares and Trinidad & Tobago NGL finished trading with a gain of 25 cents to $27.75, after exchanging 22,627 shares.
Losses| JMMB Group concluded trading with a loss of 10 cents at $1.75, with 113,925 stock units changing hands and National Flour fell 2 cents and settled at a 52 weeks’ low of $1.68, after exchanging 1,920 shares as profit for 2017, fell from $35 million to $29 million with earnings per share of 24 cents.
Firm Trades| Massy Holdings ended at $47.40, with 619 stock units changing hands, Sagicor Financial completed trading at $7.75, with an exchange of 1,254 units and Trinidad Cement ended at $2.60, with 614 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Modest trading on TTSE on Wednesday
There was no change in the number of securities trading Wednesday, compared to Tuesday, as 14 securities changed hands on the Trinidad & Tobago Stock Exchange.
Market activity ended with just 2 rising, 4 falling and 8 closing with prices unchanged. Market activity resulted in 156,799 shares valued at $1,663,812 changing hands, compared to 225,853 shares valued at $6,610,658 on Tuesday.
At close, the Composite Index declined 1.29 points to 1,262.83, the All T&T Index gained 0.47 points to 1,698.51, while the Cross Listed Index rose shed 0.29 points to close at 111.58.
IC bid-offer Indicator|At the end of trading, on Wednesday, the Investor’s Choice bid-offer indicator reading shows 2 stocks with bids lower than their last selling prices and 4 with lower offers.
Gains| Massy Holdings rose 10 cents and ended at $47.40, with 1,241 stock units changing hands and National Enterprises closed with a gain of 10 cents and completed trading at $9.75, with 145 units.
Losses| Clico Investments closed with a loss of 34 cents at $20.16, with 11,797 units, Grace Kennedy shed 5 cents and completed trading at $3.25, with 19,000 units, Guardian Holdings lost 1 cent and settled at $16, after exchanging 2,656 shares and 
Trinidad & Tobago NGL ended trading 25 cents lower at $27.50, after exchanging 8,638 shares.
Firm Trades| Ansa Merchant settled at $40, after exchanging 30 shares, First Caribbean International Bank settled at $9.35, after trading 25,000 shares, First Citizens concluded trading at $32.50, after exchanging 5,929 shares, JMMB Group ended at $1.85, with 11,211 stock units changing hands, National Flour settled at $1.70, after exchanging 9,000 shares. Sagicor Financial completed trading at $7.75, with 59,542 units, Trinidad Cement ended at $2.60, with 1,500 stock units changing hands and West Indian Tobacco settled at $88.50, after exchanging 1,110 shares.
Prices of securities trading for the day are those at which the last trade took place.
2 TTSE listings trade at 52 weeks’ low – Tuesday
First Caribbean traded on TTSE at a 52 weeks’ high on Tuesday
Market activity on the Trinidad & Tobago Stock Exchange closed on Tuesday with more stocks falling than rising as one stock closed at a 52 weeks’ high and two at 52 weeks’ lows.
At the end of trading 14 securities changed hands compared to 13 on Monday and ended with 3 rising, 5 falling and 6 closing with prices unchanged. Market activity resulted in 225,853 shares valued at $6,610,658 changing hands, compared to 123,223 shares valued at $2,237,281 on Monday.
At close, the Composite Index gained 0.78 points on Tuesday to 1,264.12, the All T&T Index shed 2.82 points to 1,698.98, while the Cross Listed Index rose 0.18 points to close at 111.87.
IC bid-offer Indicator|At the end of trading, on Tuesday, the Investor’s Choice bid-offer indicator reading shows 3 stocks with bids lower than their last selling prices and 7 with lower offers.
Gains| First Caribbean International Bank concluded trading with a gain of 5 cents and ended at 52 weeks’ high of $9.35, after exchanging 47,794 shares, Scotiabank added 1 cent and ended at $62.56, after trading 641 shares and Unilever Caribbean jumped $1.64 to $32, with an exchange of 530 units.
Losses| JMMB Group concluded trading with a loss of 1 cent at $1.85, with 69,753 stock units changing hands, Massy Holdings traded with a loss of 10 cents and settled at $47.30, with 618 stock units trading, National Flour fell 3 cents and ended at a 52 weeks’ low of $1.70, after exchanging 8,250 shares, Trinidad & Tobago NGL closed with a loss of 25 cents and completed trading at $27.75, with 497 shares traded and Trinidad Cement shed 40 cents and settled at a 52 weeks’ low of $2.60, with 550 stock units changing hands.
Firm Trades| Clico Investments concluded trading at $20.50, with 15 units, First Citizens closed at $32.50, after exchanging 3,067 shares, NCB Financial Group completed trading at $6.40, exchanging 75,577 shares, One Caribbean Media settled at $12.44, with 57 stock units changing hands, Republic Financial Holdings concluded market activity at $101.55, with 130 stock units changing hands and Sagicor Financial ended trading at $7.75 while exchanging 18,374 units.
Prices of securities trading for the day are those at which the last trade took place.
Modest price changes on TTSE – Monday
The Trinidad & Tobago Stock Exchange closed on Monday with 13 securities trading against 17 on Friday, 2 gained, 3 fell and 8 remained with prices unchanged.
Market activity ended with 123,223 shares valued at $2,237,281 changed hands, compared to 198,944 shares valued at $3,013,557 on Friday. At close, the Composite Index gained 1.07 points to 1,264.90, the All T&T Index declined 2.05 points to 1,701.80, while the Cross Listed Index rose 0.01 points to close at 111.69.
IC bid-offer Indicator|At the end of trading, on Friday, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids lower than their last selling prices and 5 with lower offers.
Gains| Agostini’s added 2 cents and concluded trading at a 52 weeks’ high of $21.06, after exchanging 1,200 shares and Guardian Holdings rose 1 cent to settle at $16.01, after trading 20,044 shares.
Losses| National Flour ended trading 7 cents lower and settled at a 52 weeks’ low of $1.73, after exchanging 500 shares, Sagicor Financial concluded trading with a loss of 6 cents at 52 weeks’ low of $7.75, with 9,818 units and Trinidad & Tobago NGL traded with a loss of 98 cents and concluded trading at $28.00, after exchanging 40,455 shares.
Firm Trades| Clico Investments completed trading at $20.50, with 7,890 units, First Caribbean International Bank settled at $9.30, after trading at a 52 weeks’ intraday high of $9.31 in exchanging 39,491 shares, First Citizens concluded market activity at $32.50, after exchanging 1,725 shares, JMMB Group ended at $1.86, with just 942 stock units changing hands, NCB Financial Group closed at $6.40, after exchanging 150 shares. One Caribbean Media ended at $12.44, with 73 stock units changing hands, Republic Financial Holdings traded 235 stock units and ended at $101.55 and West Indian Tobacco settled at $88.50, after exchanging 700 shares.
Prices of securities trading for the day are those at which the last trade took place.
Mixed results for TTSE – Friday
The Trinidad & Tobago Stock Exchange closed on Friday with 17 securities trading against 12 on Thursday, with 4 advancing, 3 declining and 10 remaining unchanged.
Market activity ended with 198,944 shares valued at $3,013,557 changed hands, compared to 126,928 shares valued at $2,032,721 on Thursday.
At close, the Composite Index fell 2.16 points on Friday to 1,265.97, the All T&T Index inched higher by 0.91 points to 1,703.85, while the Cross Listed Index shed 0.73 points to close at 111.70.
IC bid-offer Indicator|At the end of trading, on Thursday, the Investor’s Choice bid-offer indicator reading shows 4 stocks with bids lower than their last selling prices and 7 with lower offers.
Gains| Agostini’s gained 3 cents and concluded trading at closed at a 52 weeks’ high of $21.04, after exchanging 10,000 shares, Clico Investments rose 30 cents and ended trading at $20.50, with 99,788 units, First Citizens closed at a 52 weeks’ high with an increase of 18 cents and concluded trading at $32.50, after exchanging 125 shares and LJ Williams B share ended trading with rise of 3 cents to 73 cents, after exchanging 12,000 shares.
Losses| Grace Kennedy ended trading 5 cents lower to $3.30, with 44,617 units, NCB Financial Group concluded trading with a loss of 5 cents at $6.40, after exchanging 20,000 shares and Trinidad & Tobago NGL traded with a loss of 2 cents and concluded market activity at $28.98, after exchanging 947 shares.
Firm Trades| Ansa Merchant Merchant Bank settled at $40, after exchanging 245 shares, First Caribbean International Bank closed at $9.30, after exchanging 1,000 shares, Guardian Holdings ended at $16, after exchanging 2,000 shares, JMMB Group traded at $1.86, with 107 stock units changing hands, Massy Holdings ended trading at $47.40, with 2,877 stock units changing hands. One Caribbean Media closed at $12.44, with 630 stock units trading, Point Lisas completed trading at $3.81, with 1,750 units, Republic Financial Holdings ended at $101.55, with 842 stock units changing hands, Sagicor Financial traded at $7.81, with 127 units and West Indian Tobacco settled at $88.50, after exchanging 1,889 shares.
Prices of securities trading for the day are those at which the last trade took place.
