Trinidad & Tobago Stock Exchange on Monday with just 2 stocks advancing, 3 declining and 7 remaining unchanged as was the case on Friday and with the same number of securities trading as well, at 12.
Trading volume remained low, with 110,825 shares valued at $2,261,343 changing hands, compared to 293,550 shares valued at $2,488,584 on Friday.
At close, the Composite Index lost 1.41 points on Monday to 1,259, the All T&T Index fell 0.78 points to 1,699.62, while the Cross Listed Index declined 0.28 points to close at 110.37.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows the market continuing to be weak as it closed with only 1 stock ended with the bid higher than the last selling price and 7 with lower offers, an indication of the continuation of a weak market currently.
Gains| Clico Investments concluded trading and rose 1 cent to settle at $20.16, with 1,828 units and One Caribbean Media added 4 cents and completed trading at $12.48, with 1,400 stock units changing hands. 
Losses| First Citizens ended trading 19 cents lower and ended at $32.51, after exchanging 1,263 shares, NCB Financial Group concluded trading with a loss of 5 cents at $6.20, after exchanging 24,363 shares and Trinidad & Tobago NGL traded with a loss of 21 cents at $27.50, after exchanging 20,792 shares.
Firm Trades| Guardian Holdings concluded trading at $16, after exchanging 19,574 shares, JMMB Group ended trading at $1.86, with 400 stock units changing hands, National Enterprises settled at $9.75, with 737 units, Prestige Holdings concluded trading at $10.01, after exchanging 2,500 shares, Republic Financial Holdings finished trading at $101.58, with 8,289 stock units changing hands, Sagicor Financial settled at $7.80, with 29,429 units and West Indian Tobacco concluded market activity at $88.55, after exchanging 250 shares.
Prices of securities trading for the day are those at which the last trade took place.
TTSE closed Monday with 2 gains & 3 losses
Profit drops a whopping 85% at Unilever
Unilever’s huge drop
The Trinidad based Unilever Caribbean ended 2017 with a profit, but it was not the greatest year for the company. Profit fell 72 percent in the December quarter, to TT$3.5 million from TT$12.4 million in 2016.
For the year to December, profit dropped 85 percent from TT$71.7 million in 2016 to TT$10.7 million.
Sale revenues fell 27.5 percent for the quarter, to TT$113.7 million from TT$157 million and declined 18 percent for the year, to TT$464 million from TT$566 million in 2016. 
The fall in fortunes resulted from pressures in the home country the results of a continuing recession and shortage of foreign exchange. In the second half of the year, the company faced added pressure from the damaged and dislocation caused by hurricanes that affect several countries in the Eastern Caribbean. Corporate taxation fell 54 percent to TT$8.7 million for the year compared to TT$18.8 million in 2016.
Revenues reached a high of $588 million in 2014, dipped to $549 million in 2015, recovered a bit in 2016 to $566 million before falling sharply in 2017. Profit peaked at $70 million in 2013 dropped sharply in 2014 to just over $47 million in 2015 and $42.5 in 2016
Gross profit margin in the final quarter, declined to 35 percent from 38 percent in the 2016 and 36 percent for both the year, compared to 40 percent for 2016. The effect, gross operating profit declined 33 percent in the quarter to TT$40 million from TT$60 million but fell 27 percent for the year to TT$166 million from TT$228 million in 2016.
Administrative expenses rose 7 percent to TT$7.6 million in the quarter and increased just 1 percent in the year, to TT$29.5 million. Selling and distribution expenses declined by 31 percent to TT$21.7 million in the last quarter and was down 16 percent to $115 million for the year. 
The company suffered a loss of TT$1.7 million on disposal of fixed assets in the December quarter and TT$1.9 million for the ear.
Gross cash flow brought in TT$30 million but a TT$43 million addition to fixed assets and paying TT$13 million in dividends more than wiped out to inflows reducing the cash funds from TT$57 million to TT$32 million at the end of the year.
At the end of December, shareholders’ equity stood at TT$234 million with no borrowings. Receivables stood at TT$111 million and Payables at TT$86 million.
The capital spend will has boosted plant capacity and improved efficiency and is expected to drive domestic and export sales. The company now earns 45 percent of its revenues from exports. A part of the plan is new detergent formulations that will be offered in 17 markets, in the region, the company stated.
Earnings per share came out at 13 cents for the quarter and 40 cents for the year. The stock traded at TT$32 on the Trinidad & Tobago Stock Exchange with a PE ratio of 80 times 2017 earnings and net asset value is TT$8.92 resulting the price to book value being 3.6 times.
2 rise 3 fall on TTSE –Friday
Trinidad & Tobago Stock Exchange Head Quarters
Only 2 stocks advanced, 3 declining and 7 remaining unchanged in market activity on the Trinidad & Tobago Stock Exchange Friday, as 12 securities traded against 14 on Thursday.
Trading volume remained low, resulting in more volume trading with 342,317 shares valued at $5,336,268 changing hands, compared to 293,550 shares valued at $2,488,584 on Thursday.
At close, the Composite Index lost 3.49 points on Friday to 1,260.41, the All T&T Index fell 0.11 points to 1,700.40, while the Cross Listed Index declined 0.98 points to close at 110.65.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows the market continuing to be weak as it closed with only 1 stock ended with the bid lower than their last selling price and 5 with lower offers.
Gains| Scotiabank gained 9 cents and ended at $62.65, after exchanging 173 shares and Trinidad & Tobago NGL finished trading with a rise of 46 cents and closed at $27.71, after 12,092 shares changed hands.
Losses| Clico Investments closed with a loss of 1 cent at $20.15, with 6,327 units, NCB Financial Group fell 15 cents and completed trading at $6.25, after exchanging 10,500 shares and One Caribbean Media lost 4 cents and 
settled at $12.44, with 1,900 stock units changing hands.
Firm Trades| First Citizens completed trading at $32.70, after exchanging 4,561 shares, Grace Kennedy closed at $3.15, with 5,910 units trading, Guardian Holdings ended at $16, exchanging 10,587 shares, Massy Holdings settled at $47, with 55,329 stock units changing hands, National Enterprises concluded market activity at $9.75, with 1,118 units, Prestige Holdings ended at $10.01, after trading 400 shares and Sagicor Financial concluded trading at $7.80, with 233,420 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
4 stocks rise on TTSE 2 fall – Thursday
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.
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.