Remittance inflows for Jamaica rose 3.7 percent or US$6.9 million to US$190 million in July this year, over July 2014. For the year to date period total remittance inflows climbed 3.8 percent or US$47.5 million to US$1.28 billion.
After accounting for outflows, net remittances were US$168 million for July, an increase of US$6.9 million or 4.3 percent relative to the corresponding period of 2014. The growth in net remittance inflows reflect an increase in gross remittances while remittance outflows remained unchanged.
Net remittances for 2015 to-date are US$1.154 billion, an increase of US$45 million or 4.1 percent over the corresponding period of 2014. The out-turn for the review period reflected an increase in gross inflows, which was partially offset by a growth in outflows, Bank of Jamaica reported.
The flows for 2015 should exceed the US$2.157 billion the country received in 2014, if the trend continues.
Profit up 60% at Jamaican Teas
Profit at Jamaican Teas for the 2015 fiscal year to September rose 60 percent to $81 Million from a 17 percent increase in revenues of $1.3 billion and from a 32 percent rise in exports to $370 Million.
Export sales exceeded domestic sales from the manufacturing arm that ended at $363 million for a 6 percent increase for the year.
In the final quarter, net profit increased by 520 percent to $12 million from a loss in 2014 and $15.6 million after other comprehensive income. For the full year total comprehensive income amounted to $97 million compared to $46 million in 2014. The company incurred some one-off costs that are not likely to recur in 2016 and should help in contributing to increased profit.
The group operates two supermarkets, one in Kingston and one in Savanna-la-Mar with sales of $520 million for the year compared to $491 Million in 2014. The jointly owned supermarket in Montego have been challenging in a tight but competitive Montego Bay economy.
June marks the end of the tax free status of Jamaican Teas. Accordingly, the company became subject to income tax, effectively at 12.5 percent commencing in the fourth quarter of the 2015 financial year and continuing for another 4 years and nine months.
The company said they completed construction of 29 two bedroom units along with infrastructure work during the fiscal year, with all units being sold, with the majority of sales to be booked in the new fiscal year. The company expects that the net proceeds of sales will be used to pay down loans, pay a dividend to shareholders and finance Phase II of the development of which there are several commitments for.
Outlook|The company is expecting another year of good performance in 2016, in line with this, the 2016 financial year has started off on a favourable note with strong interest shown in units in phase 2 of real estate development. The expected completion of the sale of all units in phase 1 are of real estate development, good export sale orders so far. The electioneering ahead of the general elections could bring increased consumer spending and positive development in the tourism sector with the expectation of a strong tourist arrivals in 2016 could see the company benefitting. Jamaican Teas also holds a portfolio of equities that has increased in value with the 2015 results shows with an increased value of $16 million, that amount would have grown with the growth in the Jamaican Stock market since the year end.
The company is primarily involved in the processing of local teas and packaging along with imported teas and for the Jamaican and overseas markets, operates supermarkets, and the rental and development of realty. The company’s shares are listed on the Jamaica Stock Exchange, last traded at $3.85.
Jamaican $ slips vs US on Friday
Inflows of foreign currencies into the system on Friday was US$6 million more than the amount sold with the local dollar selling rate slipping against all the US dollar and the Pound but rising versus the Canadian currency. At the close of trading, the equivalent of US$37,399,601 was bought by dealers, compared with US$31,897,394 on Thursday, while they sold the equivalent of US$31,267,945 versus US$33,529,329 previously.
In US dollar trading , dealers bought US$33,768,726 compared to US$29,365,994 on Thursday. The buying rate for the US dollar rose 4 cents to $119.28 and US$29,786,156 was sold versus US$31,266,946 on Thursday, the selling rate rose 2 cents to $119.82. 
The Canadian dollar buying rate gained 59 cents to $87.64 with dealers buying C$1,463,908 and selling C$560,149, at an average rate that declined 91 cents to $88.94. The rate for buying the British Pound gained $1.36 to $179.43 for the purchase of £1,553,815, while £473,344 was sold, at an average rate that rose 82 cents to $181.14. At the end of trading, it took J$128.84 to purchase the Euro, a rise of 28 cents from Thursday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$126.31 for a rise of 52 cents from Thursday’s rate. The US dollar equivalent of other currencies traded, amounts to US$217,824 being bought, while US$350,440 was sold.
Highs & Lows| On Friday, the highest buying rate for the US dollar rose 35 cents to $120.50,
the lowest buying, the highest and lowest selling rates remained unchanged at $98.53, $126.26 and at $98.53 respectively. The highest buying rate for the Canadian dollar rose 20 cents to $89.70, the lowest buying rate closed lower by 41 at $71.80, the highest selling rate fell 54 cents to $92.55 and the lowest selling rate lost 30 cents to $85.70. The highest buying rate for the British Pound, rose $1 to end at $182.60. The lowest buying rate was unchanged at $145.25, the highest selling rate fell $1.25 to $186 and the lowest selling rate dropped $10 to $165.
Christmas treat for Carreras owners
Shareholders of Carreras are in for a nice Christmas treat with a big distribution in December. The company announced the payment of an interim dividend of $1.40 per share payable on December 10, for shareholders on record as at November 27, 2015 and a special capital cash distribution of $1.94 per share payable on December 17, to shareholders on record as at November 27, 2015.
The ex-dividend date for both payments is November 25, 2015. The payment in December will bring the amounts paid in 2015 to $8.74, with a dividend yield of 24 percent, based on the stock price at the start of the year. In addition, the stock has gained 54 percent so far this year, for a total return of 78 percent. Going forward investors can expect to receive around $6 per share as most of if not all of the capital distributions are over for now with the full amount that funded capital distributions were due from the government and the amount is now fully collected.
Prior to these proposed payments, dividends were paid in September, amounting to $1.20 per share along with and interim special capital cash distribution of $0.60 per share. An interim dividend of $2 per share was pay on June 25 and an interim dividend of $1.60 per share was paid on March 12.
Interim results to September, show revenues and profit rising in the quarter, with revenues climbing to 15 percent for the quarter to $3.06 billion and 8 percent for the half year to $5.68 billion. Profit rose 24 percent for the quarter to $762 million and 19 percent for the half year to $1.39 billion. Earnings per share amounts to $1.57 for the quarter and $2.85 for the half year. The company is on it way to just about exceed $6 per share for the fiscal year.
The stock is listed on the Jamaica Stock Exchange and last traded at $56.
JSE closes out week on moderate note
Heavy trading in Jamaica Broilers stock on Friday
A total of 12 securities rose and 14 declined with 5 stocks ending at 52 weeks’ closing high and 1 at intraday high. The JSE Market Index rose 78.92 points to 138,442.38 the all Jamaica Composite Index gained 88.20 points to end at 153,673.46 and the JSE combined index increased by 147.12 points to end at 145,209.20.
Several companies released results to September, after trading closed and could impact both the junior and main market next week.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 12 stocks with bids higher than their last selling prices and 2 with lower offers.
In trading, Barita Investments closed at $3.65 with 31,148 shares trading, Cable and Wireless enjoyed good volume as investors’ interest in the stock continues to build, at the close the stock lost 5 cents, with 5,313,495 shares changing hands to close at $1.45. On offer were 626,747 shares at $1.50 with bid in at $1.41 to buy just 30,330 units. Caribbean Cement closed at $17.80, with 356,811 shares changing hands. Carreras rose 50 cents to end at $56 with 82,273 units trading, Jamaica Broilers traded 5,701,221 shares to close at $8.75, Jamaica Producers traded 12,412 shares to end at $25. Jamaica Stock Exchange declined by 10 cents as it traded 12,500 shares at $13.90, JMMB Group lost 20 cents while trading 20,022 shares to close at $10.80, Mayberry Investments lost 4 cents and closed with 283,943 units trading at $4.35, 
National Commercial Bank closed with 116,005 shares changing hands to end with a rise of 50 cents at $34.50. Pan Jamaican rose 13 cents in trading 108,407 shares to end at $88.23, Pulse Investments traded 115,790 shares with a rise of 28 cents for new 52 weeks’ closing high of $2. Scotia Group ended with 290,683 shares changing hands and closed with a loss of $1.64 at $26.11, Supreme Ventures ended with 909,532 shares changing hands at $4.65 after falling 5 cents and Proven Investments ordinary share dropped 1 US cents and ended at 21 US cents with 33,563 units changing hands.
3 new highs for juniors as market gains
Dolphin Cove traded at an all-time high on Friday
Only 3 securities ended with no bids to buy and 10 had no stocks being offered for sale, an indication of chronic supply shortage of junior market stocks. A total of 8 stocks closed with bids higher than the last traded prices and one closed with a lower offer.
In trading, Blue Power traded 100,000 shares and gained 10 cents in closing at $13.10, Caribbean Cream ended with 12,000 shares changing hands at $4.50 with a loss of 10 cents. Caribbean Flavours traded 155,000 units to end with a gain of 10 cents at $5 for a 52 weeks high, Caribbean Producers gained 22 cents and traded 136,000 units at $4.15 for a new 52 weeks’ high as investors continued to respond to good first quarter results, icinsider.com/wp-content/uploads/2015/11/JM-Trade-13-11-15.png”>
22855″ />the stock closed without an offer, Consolidated Bakeries ended at $1.90, with 2,000 units changing hands. Dolphin Cove had 26,000 shares changing hands at a new 52 weeks’ high $14.28, for a rise of $1.43, General Accident Insurance traded only 14,000 units at $1.91, KLE Group ended with 12,000 units trading at 65 cents, Lasco Distributors closed with 43,628 shares changing hands, with a fall of 14 cents to $4.31 after trading as high as $4.45. Lasco Financial closed with a decline of 6 cents to $3.25 with a total of 78,563 shares changing hands after trading as high as $3.40, Lasco Manufacturing closed at $4 with 70,500 shares trading.
3 stocks up on TTSE 3 down
Trading picked up on the Trinidad and Tobago Stock Exchange on Friday and ended with 15 securities trading of which 3 stocks closed higher, 3 declined and 9 remained unchanged as 344,076 shares changed hands for a value of $6,934,138.At the close, the Composite Index ending with a gain of 1.20 points at 1,153.65 the All T&T Index rose 0.05 points to 1,951.79 and the Cross Listed Index gained 0.32 at 46.69.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bid higher than the last selling price and 2 stocks with offers that were lower.
Gains| National Commercial Bank closed with a gain of 4 cents with 22,336 units trading at $1.80, Republic Bank gained 1 cent to land at $112, with 50 shares changing hands and Trinidad and Tobago NGL closed with a gain of 1 cent at $21.50 with 227,168 shares changing hands for a value of $4,883,947.
Declines| Agostini’s traded 15,000 shares at $18.10 after dropping 9 cents, Massy Holdings had 3,240 units changing hands at $61.99 after slipping 1 cent to end at a 52 weeks’ low and Trinidad Cement ended at a $4.01 with 500 shares changing hands as the price fell 1 cent.
Firm Trades| > Clico Investment Fund closed with 9,655 shares changing hands at $22.53, valued $217,527, First Citizens Bank traded 1,619 shares and closed at $35, FirstCaribbean International Bank traded 400 shares and closed at $5, Grace Kennedy traded 850 units at $3.60, Guardian Holdings with 2,900 shares changing hands and closed at $12.90. National Flour Mills traded 3,892 shares at $1.99, Point Lisas ended with 37,974 units changing hands at $3.95, Prestige Holdings traded 1,906 shares at $1.96 and Scotiabank closed with 16,586 shares valued at $1,036,625 changing hands at $62.50.
The JSE indices up in morning session
The Jamaica stock market is off to a relatively brisk start on Friday morning with the All Jamaican Composite index gaining 713.67 points to 154,298.93 point, the JSE Market Index gained 638.59 points to 
139,002.05 the JSE combined index climbed 582.06 points to be at 145,644.14 and the junior market index eased by 2.34 points to its highest level of 1,613.23.
The number of securities trading remains around 30 mark in early trading with 30 securities changing hands with a volume of 5,998,014 units as 9 stocks gained and 9 declined after 75 minutes of trading. Cable and Wireless, the stock traded 4,151,780 units up to $1.50 but last traded at $1.45.
NCB hikes dividend as Q4 profit rises
NCB reports improved Q4 profit but yearly amount is flat
National Commercial Bank hiked their dividend payments for 2015 by 11 in announcing the payment of a final dividend of 85 cents per share, to be paid December 11 with the record date of November 27. NCB paid three interim dividends of 45 cents each, during 2015, the latest brings the total to $2.20 and is up from $1.98 in 2014. The final payment for 2014 was 96 cents with dividend payments amounting to 35 cents per share in August and May and 32 cents per share on February.
The dividends for 2015, represent a yield of 12 percent on the price of the stock at the start of the year of $18.50.
NCB reported profit of $12.3 billion for the year ending September slightly lower than the banking group’s revised 2014 profit of $12.33 billion which is revised upward from $11.6 billion.
For the final quarter profit grew 12 percent to end at $3.75 billion for earnings per share of $1.52 from $3.36 billion in 2014. For the full year earnings per share amounts to $5. Pretax profit for the quarter is up 17 percent to $4.8 billion.
The result for 2014 was revised upward from for earnings per share of $4.73 to $5.01. Earnings should move to the region of $6 per share in 2016.
The 2014 results have in $650 million relating to gains on acquisition of a subsidiary and sale of associated company which makes the 2015 performance much better than it appears. Credit losses fell from $2.3 billion in 2014 to $1.79 billion in 2015 and for the quarter $387 million versus $987 million in 2014.
NCB made decent progress in growing income and keeping cost under control. Loans grew by 5 percent year over year to reach $165 billion, growing this asset will allow for continued growth profitability. The group also enjoyed growth in investment securities and pledged assets which moved from $265 billion to $$276 billion. Customers’ deposits and repurchase agreements that helps to fund asset growth, moved from $337 billion to $328 billion.
NCB shares are listed on the Jamaica Stock Exchange and last traded at $34.50.
6 stocks rise 3 down on TTSE
Witco closed at a 52 week high on Thursday
At the close, the Composite Index ending with a gain of 3.41 points at 1,152.45, the All T&T Index rose 1.14 points to 1,951.74 and the Cross Listed Index rose 0.78 to 46.37 points.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bid higher than the last selling price and 5 stocks with offers that were lower.
Gains| Guardian Holdings gained 9 cents with 20,539 shares changing hands with a value of $264,903 and closed at $12.90, JMMB Group with 89,500 units changing hands and ended 3 cents higher at 53 cents. National Commercial Bank gained 9 cents while trading 2,584 shares at $1.76. Sagicor Financial Corporation closed with 16,500 shares changing hands at $5.78 with a gain of 3 cents. Trinidad Cement rose 13 cents to end at a 52 weeks’ closing high, of $4.02 with 872,000 shares changing hands, valued at $3,483,941 and West Indian Tobacco traded with a gain of 1 cent to end at $126.04 with 504 shares trading at a 52 weeks’ high.
Declines| ANSA McAL contributed 760 shares in trading, to close at $67.01, after falling 2 cents, Clico Investment Fund fell 1 cent with 53,440 shares changing hands valued at $1,204,279 and closed at $22.53 and Trinidad and Tobago NGL closed with a 1 cent decline to $21.49 with 35,227 shares changing hands for a value of $757,036.
Firm Trades|First Citizens Bank traded 440 shares and closed at $35, FirstCaribbean International Bank traded 1,108 shares and closed at $5, Grace Kennedy traded 312 units at $3.60, National Enterprises with 91 shares changing hands at $16.50. One Caribbean Media traded 450 shares at $22, Scotia Investments closed with 1,500 shares changing hands at $1.65, Scotiabank closed with 410 shares changing hands at $62.50 and Unilever Caribbean ended with 2,081 shares trading at $67.54.
