Main Market stocks rise Wednesday  

Market activity on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded rising 118 percent with 215 percent more value than on Tuesday, following trading of 59 securities compared to 53 Tuesday, with 25 rising, 15 declining and 19 ending unchanged.
Investors traded 10,275,420 shares for $135,202,574 up from 4,720,134 units at $42,982,084 on Tuesday.
Trading averaged 174,160 units at $2,291,569 versus 89,059 shares at $810,983 on Tuesday and for the month to date, an average of 251,684 units at $2,614,406 compared to 272,195 units at $2,699,821 on the previous trading day. August closed with an average of 738,534 units at $5,975,613.
Wigton Windfarm led trading with 2.37 million shares for 23 percent of total volume followed by JMMB Group 7.5% with 1.37 million units for 13.3 percent of the day’s trade, Transjamaican Highway ended with 1.25 million units for 12.1 percent market share and Caribbean Producers with 1.16 million units for 11.3 percent of shares traded.
The All Jamaican Composite Index rallied 1,089.93 points to 407,802.85, the JSE Main Index advanced by 1,179.38 points to close at 359,330.77 and the JSE Financial Index added 0.84 points to settle at 86.26.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.7 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Barita Investments gained $2.03 to end at $87 with an exchange of 556,415 shares, Caribbean Cement increased $1 to $61 while trading 15,240 stock units, Caribbean Producers advanced 80 cents to close at $14.20 in switching 1,159,358 stocks. GraceKennedy lost $1.79 to end at. $92.71, with 39,017 units clearing the market, Guardian Holdings climbed $7 to $523 with the swapping of 100 stock units, Jamaica Producers dropped $1.47 to end at $19.02 after transferring 29,303 shares. Jamaica Stock Exchange shed 80 cents in ending at $16.20 as investors exchanged 2,515 stocks, JMMB Group fell $1.49 to $40.01 after closing trading of 792,727 units, Massy Holdings dipped $2 in closing at $86.50, with 2,192 stocks changing hands. Mayberry Investments declined $1.19 to close at $8.11 after exchanging 142,722 units, Mayberry Jamaican Equities shed 59 cents to $13.01 in exchanging 7,083 stock units, 138 Student Living popped 43 cents to $7, with 162,701 shares crossing the exchange. Palace Amusement rose $170 to $950 in trading 23 shares, Proven Investments rallied $2.48 in closing at $32.50 in exchanging 3,742 stock units, Scotia Group gained $1.50 to close at $33.50, with 89,436 stocks crossing the market. Seprod increased 90 cents to close at $69.95 in an exchange of 4,305 units, Supreme Ventures declined 70 cents in closing at $28.30 with a transfer of 69,347 units and Wisynco Group dropped 46 cents in ending at $16.99 trading 101,247 stock units.
In the preference segment, Eppley 7.25% 
preference share lost $1.28 to $20 finishing at 6,000 shares and Transjamaican Highway 8% climbed 43 cents to end at $1.90 crossing the market one stock. 
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

 

Trading activities dropped on JSE Main Market

The Jamaica Stock Exchange Main Market ended trading on Tuesday, with the volume of stocks declining by 58 percent, with a 37 percent lower value than on Monday, after  53 securities traded compared to 57 on Monday, with 16 rising, 22 declining and 15 ending unchanged after 138 Student Living preference share closed at a record high of $62.
Just 4,720,134 shares were exchanged for a mere $42,982,084,down from 11,109,790 units at $68,584,991 on Monday. Trading averaged 89,059 units at $810,983 versus 194,909 shares at $1,203,245 on Monday and month to date, an average of 272,195 units at $2,699,821, compared to 329,291 units at $3,288,694 on the previous trading day. August closed with an average of 738,534 units at $5,975,613.
Transjamaican Highway led trading with 1.03 million shares for 21.9 percent of total volume followed by Wigton Windfarm with 898,022 units for 19 percent of the day’s trade and Sagicor Select Manufacturing & Distribution Fund with 500,000 units for 10.6 percent of market share.
The All Jamaican Composite Index rose262.34 points to 406,712.92, the JSE Main Index declined 956.79 points to 358,151.39 and the JSE Financial Index shed 0.17 points to settle at 85.42.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.6 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and eight with lower offers.
At the close, Caribbean Cement shed 50 cents to end at $60 in an exchange of 61,451 shares, Eppley Caribbean Property Fund lost $2.40 to close at $41.60 after trading 235 units, Guardian Holdings gained $1 in ending at $516, with 86 stock units clearing the market. Jamaica Stock Exchange fell 52 cents in closing at $17, with an exchange of 24,969 stocks, Kingston Wharves declined $1.40 to close at $36.10, with a transfer of 2,815 stocks, Mayberry Investments rose 79 cents to end at $9.30 as investors exchanged 89,048 stock units. Palace Amusement dipped $70 to $780, with 29 shares crossing the exchange, PanJam Investment dropped 50 cents in closing at $59.50 while exchanging 8,385 units, Portland JSX shed $1 to $9 after trading 365 stocks. Proven Investments dropped $2.63 to close at $30.02 with investors transferring 5,449 stock units, Salada Foods rallied 50 cents in ending at $4.50 in exchange of 592 units, Scotia Group declined $1.46 to $32 after exchanging 9,651 shares. Seprod dipped 45 cents to close at $69.05 after trading 1,457 stocks and Wisynco Group increased 55 cents to end at $17.45 after a transfer of 105,711 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Low-keyed trading for JSE Main Market

Market activity on the Jamaica Stock Exchange Main Market ended on Monday, with the volume of stocks traded declining 16 percent less and 12 percent lower than on Friday, with 57 securities trading compared to 56 on Friday, with 15 rising, 26 declining and 16 ending unchanged.
At the close of trading four stocks ended at a 52 weeks’ low and one at a 52 weeks’ low high.
A total of 11,109,790 shares were exchanged for $68,584,991 down from 13,235,143 units at $77,577,657 on Friday. Trading averages 194,909 units at $1,203,245 versus 236,342 shares at $1,385,315 on Friday and month to date, an average of 329,291 at $3,288,694  compared to 397,076 units at $4,340,646 on the previous trading day. August closed with an average of 738,534 units at $5,975,613.
Wigton Windfarm led trading with 5.52 million shares for 49.7 percent of total volume followed by Transjamaican Highway with 1.83 million units for 16.5 percent of the day’s trade and Pulse Investments with 543,973 units for 4.9 percent market share.
The All Jamaican Composite Index dipped 2,145.65 points to 406,450.58, the JSE Main Index declined 930.64 points to 359,108.18 and the JSE Financial Index remained unchanged at 85.59.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.8 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com’s for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows seven stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Producers declined 95 cents to end at $13.50 in trading 118,472 shares, First Rock Real Estate dipped 66 cents ending at $11.71 after exchanging 2,893 units, GraceKennedy shed $1.50 in closing at $94.50 after trading 87,636 stocks. Guardian Holdings increased $9 to $515 in an exchange of 41 stock units, Jamaica Broilers fell 87 cents to close at $28.06 with investors transferring 13,416 stocks, Jamaica Producers popped $1.47 to end at $20.49, with 6,269 units changing hands. Kingston Properties dropped 57 cents to close at $7.02 with investors transferring 73,136 stock units, Massy Holdings lost 50 cents to $88.50 with an exchange of 1,317 shares, Mayberry Investments gained 56 cents to end at $8.51, with 55,814 stock units crossing the exchange. Mayberry Jamaican Equities advanced 55 cents to $13.60 with 8,336 units changing hands, NCB Financial climbed 98 cents to $89.98 in exchanging 30,511 stocks, Palace Amusement rallied $51.13 to end at $850 in switching ownership of 58 shares. Salada Foods shed 70 cents to end at a 52 weeks’ low of $4, with 135,521 shares crossing the market, Seprod dropped $1.50 to close at $69.50 while exchanging 3,228 stocks, Sygnus Real Estate Finance declined $1.97 in closing at a 52 weeks’ low of $9.03, with 92,487 crossing the market stock units and Wisynco Group dipped 65 cents to end at $16.90 with the swapping of 175,173 units.
In the preference segment, Eppley 7.50% preference share rose $1.53 in closing at $7.48, with 5 shares clearing the market and 138 Student Living preference shares gained $2.30 to close at a 52 weeks’ high of $61.81 with an exchange of 5 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Rising stocks dominate decliners

Market activity on the Main Market of the Jamaica Stock Exchange ended on Friday, with the volume of stocks traded declining 58 percent with an 81 percent lower value than on Thursday, with 56 securities trading compared to 57 on Thursday, with 25 rising, 20 declining and 11 ending unchanged. A total of 13,235,143 shares were traded for $77,577,657 versus 31,634,499 units at $412,915,308 on Thursday. Trading averaged 236,342 units at $1,385,315 versus 554,991 shares at $7,244,128 on Thursday and month to date, an average of 397,076 units at $4,340,646, compared to 554,991 units at $7,244,128 on the previous trading day. August closed with an average of 738,534 units at $5,975,613.
Sagicor Select Financial Fund led trading with 3.80 million shares for 28.7 percent of total volume followed by Wigton Windfarm with 2.27 million units for 17.2 percent of the day’s trade, Sagicor Select Manufacturing & Distribution Fund with 2.25 million units for 17 percent market share and Transjamaican Highway with 1.07 million units for 8.1 percent of the day‘s trades.
The All Jamaican Composite Index dropped 347.86 points to 408,596.23, the JSE Main Index fell 720.30 points to 360,038.82 and the JSE Financial Index increased 0.08 points to settle at 85.59.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.5 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows ten stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement dropped $3.45 in ending at $60.50 with investors transferring 9,711 shares, Caribbean Producers shed 45 cents to end at $14.45 after exchanging 111,480 stock units, Eppley Caribbean Property Fund climbed $2.40 to close at $44 with an exchange of 575 stocks. First Rock Real Estate advanced 87 cents to $12.37 with 346 units clearing the market, GraceKennedy popped $3.30 in closing at $96 after exchanging 26,732 stocks, Guardian Holdings dived $41 to $506 after trading just 11 stock units. Jamaica Broilers rallied 93 cents in closing at $28.93 with an exchange of 12,421 shares, Margaritaville fell $1.05 to $26.50 in switching ownership of 69 units, Mayberry Investments dipped 43 cents to close at $7.95 with an exchange of 66,452 stocks. NCB Financial dropped $1 to $89, with 76,146 units changing hands, 138 Student Living gained $1.34 in ending at $6.64 with the exchange of 4,215 shares, Palace Amusement dropped $51.13 in closing at $798.87 while swapping 3 stock units. PanJam Investment increased 47 cents to close at $60, with a mere seven units crossing the market, Portland JSX declined $2.10 to $9.90 in exchanging 600 shares, Sagicor Group dipped 55 cents to end at $53.95 in trading 193,172 stock units. Scotia Group rose $2.55 to $33.50 with a transfer of 987,581 stocks and Seprod rose $1.95 to close at $71, with 700 units crossing the market.
In the preference segment, Eppley 7.50% preference share dropped $1.54 to $5.95 in an exchange of 5,714 stocks. JMMB Group 7.25% preference share shed 47 cents to end at $2.50 as investors exchanged 1,976 shares and 138 Student Living preference share rallied $7.76 in closing at $59.51 after a transfer of 284 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Heavy trading continues JSE main market

Market activity on the Jamaica Stock Exchange Main Market ended on Thursday, with the volume of stocks traded declining 19 percent, with a 56 percent lower value than Wednesday, as 57 securities traded compared to 55 on Wednesday, with 20 rising, 29 declining and eight ending unchanged.
A total of 31,634,499 shares were traded for $412,915,308 down from 38,832,617 units at $938,675,238 on Wednesday. Trading averaged 554,991 units at $7,244,128 versus 706,048 shares at $17,066,823 on Wednesday. August’s average was 738,534 units at $5,975,613.
QWI Investments led trading with 12.17 million shares accounting for 38.5 percent of total volume followed by Jamaica Broilers with 5.23 million units for 16.5 percent of the day’s trade, 138 Student Living with 2.94 million units for 9.3 percent market share, First Rock Real Estate with 2.38 million units for 7.5 percent market share, Supreme Ventures with 1.26 million units for 4 percent market share and Sagicor Select Financial Fund with 1.01 million units for 3.2 percent market share.
The All Jamaican Composite Index gained 561.84 points to end at 408,944.09, the JSE Main Index rose 1,464.43 points to 360,759.12 and the JSE Financial Index popped 0.26 points to settle at 85.51.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows 12 stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Eppley dipped 99 cents in closing at $39.01 after trading 351 shares, Eppley Caribbean Property Fund dropped $2.40 to $41.60 with the swapping of 295 stock units, First Rock Real Estate fell 90 cents to end at $11.50, with 2,381,918 units crossing the market. GraceKennedy lost $2.30 ending at $92.70 with 427,702 stocks changing hands, Guardian Holdings popped $31 to close at $547 in an exchange of 64 stock units, Jamaica Broilers declined 99 cents to $28 in switching ownership of 5,234,006 stocks. Jamaica Producers shed $1.96 to close at $19.02 after exchanging 74,745 units, Jamaica Stock Exchange lost 53 cents to $17.82 in exchanging 49,538 shares, Kingston Wharves declined 40 cents to end at $37.30 as investors exchanged 107,916 units. Massy Holdings rallied $2.02 in closing at $89 in exchanging 42,072 stock units, Mayberry Investments dropped 84 cents to close at $8.38 with an exchange of 53,916 stocks, NCB Financial fell $3.90 to a 52 weeks’ low of $90, with 160,992 shares changing hands. PanJam Investment dipped $2.47 to end at $59.53 and closed with 95,253 shares passing through the exchange, Proven Investments increased $2.59 in closing at $32.59 in trading 1,622 units, Sagicor Group rose 50 cents to $54.50 with a transfer of 20,548 stock units. Scotia Group shed $1.05 to close at $30.95 after a transfer of 533,796 stocks, Stanley Motta slipped 50 cents to $5 while exchanging 11,180 stock units and Supreme Ventures climbed 60 cents to end at $29.12 with investors transferring 1,258,424 shares.
In the preference segment, 138 Student Living preference share advanced $6.75 to $51.75, with 5 units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Big jump in JSE Main Market trading

Market activity on the Jamaica Stock Exchange Main Market ended on Wednesday, with the volume of stocks traded climbing 166 percent, with the value surging 671 percent above that on Tuesday, with 55 securities trading compared to 59 on Tuesday, with 20 rising, 27 declining and eight ending unchanged.
A total of 38,832,617 shares were exchanged for $938,675,238 compared to 14,621,118 units at $121,702,731 on Tuesday. Trading averaged 706,048 units at $17,066,823, versus 247,816 shares at $2,062,758 on Tuesday and month to date, an average of 738,534 units at $5,975,621, compared to 740,045 units at $5,459,970 on the previous trading day. July closed with an average of 173,643 units at $1,683,017.
JMMB Group led trading with 8.48 million shares for 21.8 percent of total volume followed by Sygnus Credit Investments with 5.14 million units for 13.2 percent of the day’s trade and Carreras chipped in with 4.99 million units for 12.8 percent of market share. Mayberry Jamaican Equities exchanged 3.92 million units for 10.1 percent of the day’s trade, Sagicor Group controlled 1.96 million units and held 5 percent of the market and Sagicor Select Financial Fund ended with 1.83 million units for 4.7 percent market share.
The All Jamaican Composite Index popped 146.95 points to 408,382.25, the JSE Main Index dipped 474.78 points to 359,294.69 and the JSE Financial Index fell 0.27 points to settle at 85.25.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.9 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasted by ICInsider.com’s for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows 17 stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Caribbean Cement gained 50 cents to close at $64 with an exchange of 1,332,083 shares, First Rock Real Estate rose 90 cents to end at $12.40 in closing with 57,867 stock units changing hands, Grace Kennedy rallied $1.05 to $95 in switching ownership of 82,683 stocks. Guardian Holdings dipped $14 in closing at $516, with 2,087 units crossing the market, Jamaica Stock Exchange climbed 45 cents to $18.35 in trading 14,540 units, JMMB Group lost $1.15 to end at $41.35 trading 8,484,230 stock units. Kingston Properties popped 69 cents in ending at $7.70 after exchanging 395,688 stocks, Kingston Wharves dropped $1.30 to $37.70 as investors exchanged 27,305 shares, Margaritaville declined 54 cents to close at $26 while exchanging 1,735 shares. Massy Holdings advanced 84 cents to $86.98 in an exchange of 1,150 units, Mayberry Jamaican Equities fell $1.01 to end at $13.01, with 3,919,489 stocks crossing the market, MPC Caribbean Clean Energy increased 50 cents to $85 after a transfer of 6 stock units. NCB Financial advanced $1.10 to close at $93.90, with 749,008 units crossing the exchange, Portland JSX shed $1.84 in closing at $8.20, with 9,100 stock units clearing the market, Proven Investments dropped $2.80 to $30 with the swapping of 5,692 stocks. Sagicor Group gained $3 to close at $54 after exchanging 1,958,783 shares and Supreme Ventures dipped $1.38 in closing at $28.52, with 227,689 stock units changing hands.
In the preference segment, Productive Business Solutions 9.75% preference share increased $10.70 to end at $117.70 in exchanging 51 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trading pulls back for JSE main market

Market activity on the Jamaica Stock Exchange Main Market ended on Tuesday, with the volume of stocks traded declining 36 percent with an 89 percent less money chasing stocks than on Monday as 59 securities were traded compared to 61 on Monday, with prices of 23 rising, 24 declining and 12 ending unchanged.
At the close of trading, the All Jamaican Composite Index rose 528.75 points to 408,235.30, the JSE Main Index rallied 622.71 points to 359,769.47 and the JSE Financial Index shed 0.04 points to settle at 85.52.
The PE Ratio, a formula used to ascertain stock values, averages 13.8 for the Main Market. The JSE Main and USD Market PE ratios incorporate earnings forecasts by ICInsider.com for companies with the financial year ending between November and August 2023.
A total of 14,621,118 shares were exchanged for $121,702,731, down from 22,909,155 units at $1,091,762,298 on Monday. Trading averaged 247,816 units at $2,062,758 versus 375,560 shares at $17,897,743 on Monday and month to date, an average of 740,045 units at $5,459,960, compared to 765,882 units at $5,638,283 on the previous day. July closed with an average of 173,643 units at $1,683,017.
Mayberry Investments led trading with 6.55 million shares for 44.8 percent of total volume, followed by Wigton Windfarm with 2.38 million units for 16.3 percent of the day’s trade and Sagicor Select Financial Fund with 1.03 million units for 7 percent market share.
Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Berger Paints popped 83 cents to end at $11.34 after 197 shares crossed the exchange, Caribbean Cement rallied $3.50 in closing at $63.50 and trading 32,302 units, Eppley Caribbean Property Fund rose $3.98 to $44 as investors exchanged six stock units. First Rock Real Estate fell 96 cents to $11.50 in trading 38,046 stocks, GraceKennedy advanced 55 cents to $93.95 in switching ownership of 37,033 stock units, Jamaica Stock Exchange gained $1.80 to end at $17.90 with a transfer of 52,975 shares. JMMB Group increased $1.51 in closing at $42.50 with 171,890 stocks clearing the market, Massy Holdings climbed 64 cents to $86.14 with investors transferring 6,785 units, Mayberry Investments increased 38 cents to $9.50 with an exchange of 6,554,435 shares. MPC Caribbean Clean Energy climbed $16.50 to close at $84.50 in exchanging 2,489 stocks, 138 Student Living dipped $1.20 to $5.30 while exchanging 961,825 units, Palace Amusement advanced $139 to end at $850 after trading one stock unit. PanJam Investment gained $2.99 in ending at $62 after a transfer of 576 stock units, Portland JSX rallied $1.04 to close at $10.04 after exchanging 134 units, Proven Investments declined 55 cents in closing at $32.80, with 8,286 stocks changing hands. Stanley Motta popped 79 cents in closing at $5.45, with 110,026 shares crossing the market and Supreme Ventures rose $1.10 to close at $29.90 in an exchange of 13,378 stocks.
In the preference segment, Productive Business Solutions 9.75% preference share shed $43 to end at $107, with 70 shares crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Wisynco spending $5B on plant expansion

Wisynco is moving to expand the production capacity during Fiscal 2023 and has deposited $600 million for new equipment, Andrew and William Mahfood advised investors in the director report accompanying the 2022 audited accounts. The expansion will cost around $5 billion and is likely to come on stream in the fourth quarter of the current fiscal year, the chairman William Mahfood states in response to ICInsider.com question.  

Wisynco Group

Following a year of strong revenue growth, the company saw an acceleration of revenue growth in the final quarter of Fiscal 22 rising 30 percent over the June quarter of 2021 as it helped to deliver a 22.7 percent increase in revenues for the year to $39.1 billion from $31.8 billion of the prior year.  the rebound in the economy with the removal of restrictions and the strong rebound in tourist arrivals, a sector to which it sells around 15 percent of its products would have been positive development for the group.
The company states that “during the final quarter we encountered supply chain issues in selected key raw materials some which require special transportation equipment which impacted our production and consequently dampened our revenue levels.”
Profit before Taxation for the year was $4.9 billion or 31.4 percent more than $3.8 billion in 2021. Net profit after taxes for the year rose 31.6 percent to $4.1 billion from $3.1 billion in the prior year. Earnings per share for the year was $1.08 per share or 31.7 percent greater than the 82c per share for the prior year.
Gross profit for the year was $13.25 billion 19.2 percent greater than the prior year whilst Gross Margin was 33.9 percent compared to 34.9 percent for the 2021 fiscal year. Management cited higher energy costs resulting from downtime at the LNG plant and higher input costs on certain raw materials for the reduction in Gross Margin when compared to the prior year.
Selling and Distribution costs rose 15.4 percent over the 2021 fiscal year to $7.1 billion and Administrative expenses rose 1.5 percent for the year of $1.44 billion up from the $1.42 billion of the prior year.

Wisynco operates at two main locations situated in St. Catherine: White Marl and Lakes Pen. Manufacturing takes
place at White Marl, while Lakes Pen carries out distribution activities. Total square footage with factory, storage and
offices between the two locations is approximately 530,000 square feet.

Finance costs slipped to $149 million from $153 million in 2021 and includes foreign exchange losses for the year of approximately $34.7 million which compares to foreign exchange gains of $70 million recognized in other operating income for the prior year. Interest income improved over the prior year by approximately $108 million due to higher rates being earned on deposits.
Gross cash flow brought in $5.9 billion but growth in work in capital saw it falling to $4 billion and after repaying loans of $800 million and paying dividends of $1.5 million a net flow was just $298 million. At the end of December, shareholders’ equity stood at $17.8 billion with long term borrowings at $746 million and short term at $820 million. Current assets ended the period at $17.8 billion inclusive of trade and other receivables of $4 billion, investments, cash and bank balances of $8 billion. Current liabilities ended the period at $7.3 billion, with net current assets at $10.5 billion
Earnings per share came out at 1.08 cents for the year to date. Investors should accumulate this stock for growth in profit for 2023 and beyond.
ICInsider.com forecasts $1.75 per share for the fiscal year ending June 2023, with a PE of 10 times the current year’s earnings based on the price of $17.45 the stock traded at on the Jamaica Stock Exchange Main Market. Net asset value is $4.78 with the stock trades at 3.6 times book value.
The company paid two dividends amounting to 40 cents per share for the year representing an increase of 33.3 percent over the 30c per share for the 2021 fiscal year.

Stocks dive on the JSE on Monday

On a day when Carreras and Scotia Group hit intraday lows of $6.20 and $30.11, the Jamaica Stock Exchange Main Market gave back thousands of points in the main indices on Monday, with the volume of stocks traded rising 34 percent and valued 526 percent more than on Friday after 61 securities were traded compared to 57 on Friday, with 15 rising, 29 declining and 17 ending unchanged and leading to a big surge in the value of stocks traded.
A total of 22,909,155 shares were traded for $1,091,762,298 compared to 17,038,158 units at $174,268,763 on Friday. Trading averages 375,560 units at $17,897,743 versus 298,915 shares at $3,057,347 on Friday and month to date, an average of 765,882 units at $5,638,283, compared to 788,281 units at $4,934,777 on the previous trading day. July closed with an average of 173,643 units at $1,683,017.
GraceKennedy led trading with 10.77 million shares for 47 percent of total volume followed by Transjamaican Highway with 5.68 million units for 24.8 percent of the day’s trade, Wigton Windfarm with 1.63 million units for 7.1 percent market share and Caribbean Producers ended with 1.13 million units for 4.9 percent of the day’s trades.
The All Jamaican Composite Index lost 4,970.96 points to end at407,706.55, the JSE Main Index fell 3,398.45 points to 359,146.76 and the JSE Financial Index shed 1.59 points to close at 85.56.
The PE Ratio, a formula to ascertain appropriate stock values, averages 13.4 for the Main Market. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with the financial year ending between November and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Berger Paints dropped 94 cents to $10.51 after trading 1,629 shares, Caribbean Producers jumped $1.44 to close at $14.70 after 1,127,687 stocks passed through the market, Eppley fell $1 to $40 with 2,823 units clearing the market. Eppley Caribbean Property Fund lost $4.98 in closing at $40.02, with 820 stock units changing hands, First Rock Real Estate rallied 96 cents to end at $12.46 while exchanging 118 stock units, GraceKennedy shed $1.59 to end at $93.40 in an exchange of 10,773,935 stocks. Guardian Holdings declined $18.99 in closing at $511.01 with a transfer of 57 shares, JMMB Group dipped 51 cents to $40.99 as investors exchanged 29,513 units, Kingston Properties declined 35 cents to close at $7.05 in exchanging 4,555 stock units. Kingston Wharves popped $1.15 to end at $39 after a transfer of 5,323 units, Margaritaville fell $1 to $26.55 in exchanging 58 stocks, Massy Holdings lost $1 to close at $85.50 in trading 3,005 shares. Mayberry Investments dropped 78 cents to end at $9.12 in switching ownership of 535,690 stock units, MPC Caribbean Clean Energy shed $16.49 to $68 after trading 259 units, NCB Financial advanced $1.80 in closing at $92.80 with investors transferring 32,384 stocks. 138 Student Living dipped 75 cents to end at $6.50 with 76,424 shares changing hands, Palace Amusement climbed $11 to close at $711 with the swapping of 123 shares, Portland JSX fell $3 to $9 with an exchange of 95,118 units. Sagicor Group lost $3.49 after ending at $51.01, with 21,517 stocks crossing the market, Salada Foods shed 42 cents in closing at $4.90 with an exchange of 5,446 stock units, Scotia Group declined $1.63 ending at a 52 weeks’ low of $32.38 after exchanging 106,989 units and Stanley Motta dipped 63 cents in closing at $4.66 with investors transferring 34,909 stock units.
In the preference segment, Jamaica Public Service 9.5% jumped $450 to close at $3100 after trading 12 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Rebounding main market

Investors were more aggressive in trading on the Jamaica Stock Exchange Main Market on Friday, following the commencement of refunding of monies previously tied up in the recent ONEonONE IPO. Buying interest resulted in 97 percent more shares trading with 166 percent higher value than on Thursday, sending the prices of 32 stocks higher, 12 lower and 13 unchanged as 57 securities were swapped compared to 58 on Thursday.  
The All Jamaican Composite Index rallied 2,977.43 points to end at 412,677.51, the JSE Main Index climbed 1,783.83 points to finish at 362,545.21 and the JSE Financial Index rose 0.71 points to close at 87.15.
The PE Ratio, a formula used in the computation of appropriate stock values, averages 14 for the Main Market. The JSE Main and USD Market PE ratios are calculated based on ICInsider.com’s forecasted earnings for companies with the financial year ending between November and August 2023.
A total of 17,038,158 shares were traded for $174,268,763 up from 8,634,954 units at $65,465,672 on Thursday. Trading averages 298,915 units at $3,057,347, versus 148,879 shares at $1,128,718 on Thursday and month to date, an average of 788,281 units at $4,934,777, compared to 816,008 units at $5,041,153 on the previous trading day. July closed with an average of 173,643 units at $1,683,017.
Portland JSX led trading with 7.0 million shares for 41.1 percent of total volume, followed by Transjamaican Highway with 3.47 million units for 20.4 percent of the day’s trade, Wigton Windfarm with 2.32 million units for 13.6 percent market share and Pulse Investments with 1.41 million units for 8.3 percent market share.
The Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and three with lower offers.
At the close, Caribbean Cement advanced $3 to close at $60 after a transfer of 14,069 shares, Eppley rallied $1 to $41 in switching ownership of 1,058 units, GraceKennedy shed $1.01 in closing at $94.99 in trading 137,648 stock units. Guardian Holdings rose $10 to $530 after the trading of 5,101 stocks, Jamaica Broilers climbed 50 cents to $29 in exchanging 31,400 stocks, Jamaica Stock Exchange popped $1.13 to close at $16.20 with 5,823 units changing hands. JMMB Group gained $1.20 in closing at $41.50 after 940,974 shares crossed the exchange, Kingston Wharves increased 35 cents to end at $37.85 while exchanging 21,670 stock units, Massy Holdings rose $12.50 to $86.50 in exchanging 50,536 units. MPC Caribbean Clean Energy increased $2.49 after ending at $84.49 and trading 56 stocks, NCB Financial dropped $1.90 in closing at $91 with investors transferring 55,661 stock units, Palace Amusement lost $34.99 to end at $700, with 52 shares clearing the market. PanJam Investment declined $2.99 in ending at $59.01 in an exchange of 9,854 shares, Portland JSX popped $1.50 to end at $12 after 7,000,330 stock units changed hands, Sagicor Group rallied $4.48 to close at $54.50, with 9,118 units changing hands. Salada Foods advanced 57 cents to close at $5.32 with the swapping of 22,969 stocks, Seprod dipped 38 cents to $69.02 with a transfer of 5,517 units and Supreme Ventures fell $1.20 in closing at $28.80 as investors exchanged 32,579 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.