Cable and Wireless fell by a further 9 cents to 85 in early trading on Tuesday with 589,169 units. The stocks now has bid of 82 cents to buy 300,000 shares on the offer is 60,000 units at 85 cents. In the wider market JMMB Group traded 1,013,700 units at $10, National Commercial Bank traded 248,000 units at $32.50 down from the last traded price of $36 on Monday.
Radio Jamaica jumped to a new high of $5, Knutsford Express Services traded 5,780 shares at a new high of $7 and Lasco 
Manufacturing with 322,996 units closed at a new high of $4.the company’s results for the September quarter was released with rising to $497 million from $269 million in 2014. Scotia Group rose $1.51 with 760,907 units trading $28.50.
Trading resulted in 27 securities changing hands with a volume of 4,770,662 units as 15 stocks gained and 4 declined and a number of new all-time highs were reached with the Jamaica Stock exchange.
The Jamaica stock market after 90 minutes of trading, recorded gains in the indices. The All Jamaican Composite index gained 370.46 points to 147,056.49 JSE Market Index rose 331.50 points to 132,521.46 the JSE combined index climbed 629.28 points to be at 137,471.38 and the junior market index rose 35.42 points to its highest level of 1,383.19.
C&W falls 9 cents to 85 cents in morning session
GOJ rakes in $5b more tax revenues
Government of Jamaica raked in 2.6 percent more tax revenues amounting to $4.9 billion over the $190 billion budgeted to reach $195 billion. Grants fell $3 billion short of budget of $6 billion, and non tax revenues by $800 million resulting in nearly half a billion excess revenue over budget, for the nine months to September.
At the end of the period the fiscal deficit projected, was cut in half, with a deficit of $14 billion. The primary surplus measured in at $51 billion some $11 billion better than planned.
The improved revenues flows came mainly from corporate profit tax of $1.9 billion, SCT on local goods $1 billion, tax on interest $2.6 billion, GCT and SCT on imports of $2 billion. PAYE was off by $474 million, telephone tax $400 million, custom duty $800 million and bauxite levy $500 million.
On the expenditure side, recurrent payments are down by $7.3 billion fueled mainly by $3.4 billion reduction in interest payments and $3.9 million in wages. Capital expenditure is under spent by $6.5 billion.
Jam$ gains against all on Monday
In foreign exchange trading on Monday, the Jamaican dollar gained against all the three major currencies it trades against. Inflows of foreign currencies into the system, increased slightly over Friday’s intake. At the close of trading, the equivalent of US$50,529,982 was bought by dealers, compared with US$44,956,234 on Friday, while they sold the equivalent of US$$49,583,967 versus US$47,742,798 previously.
In US dollar trading , dealers bought US$46,701,326 compared to US$40,384,483 on Friday. The buying rate for the US dollar fell 5 cents to $119.27 and US$47,603,305 was sold versus US$45,772,236 on Friday, the selling rate slipped 2 cents to end at $119.81. The Canadian dollar buying rate dropped $1.11 to $88.04, with dealers buying C$1,813,495 and selling C$842,800, at an average rate that declined 92 cents to $89.66. The rate for buying the 
British Pound slipped 72 cents to $181.19 for the purchase of £1,482,109, while £625,353 was sold, at an average rate that fell 27 cents to $182.31. At the end of trading, it took J$132.38 to purchase the Euro, a rise of $1.13 from Friday’s rate, according to data from Bank of Jamaica, while dealers purchased the European common currency at J$128.83 for a gain of $1.16 from Friday’s rate. The US dollar equivalent of other currencies traded, amounts to US$238,337 being bought, while US$398,353 was sold.
Highs & Lows| On Monday, the highest buying rate for the US dollar, rose 10 cents to $120.10, the lowest buying rate fell 75 cents to 
$97.61, the highest selling rate rose 70 cents to end at $124.98 and lowest selling rate dropped 9 cents to end at $98.28. The highest buying rate for the Canadian dollar declined 90 cents to $91.10, the lowest buying rate rose 38 cents to end at $72.38, the highest selling rate jumped $5.56 to end at $98.76 and the lowest selling rate was unchanged at$86.50. The highest buying rate for the British Pound, climbed 40 cents to end at $185. The lowest buying rate fell $1.11 to $145.55, the highest selling rate climbed $1.42 to $189.14 and the lowest selling rate remained unchanged at $177.
JSE starts November positively
NCB’s new Constant Spring Rd. branch the company’s stock last traded at $36 on Monday
A total of 37 securities traded leading to 6,392,200 units valued at $48,320,406 hanging hands, in all market segments. A total of 21 securities rose and 10 declined with 6 stocks ended at 52 weeks’ closing highs and 2 at an intraday 52 weeks’ high.
The JSE Market Index shot up 905.92 points to 132,189.96, the all Jamaica Composite Index gained 1,012.42 points to end at 146,686.03. JSE combined index and climbed 1,059.06, points to end at 136,842.10. All Three indices are at new closing highs.
IC bid-offer Indicator At the end of trading, in the main and junior markets, the <strong> Investor’s Choice bid-offer indicator had a reading of 12 stocks with bids higher than their last selling prices and one with an offer that was lower.
In trading, Barita Investments ended at a 52 weeks’ closing high, of $2.90 as the price gained 15 cents while 50,000 shares were traded, the stock closed with the bid at $3 to buy 60,000 shares, no stocks were offered at the close.
Cable and Wireless continued under selling pressure and closed with a loss of 36 cents, with 1,456,839 shares changing hands to end at 94 cents. Trading in the stock was between 94 cents and $1.20 and it closed with a bid at 85 cents, to buy 57,000 shares. On the offer were 800,562 shares at 94 cents. By the close the number of offers increased dramatically and now total 36, ranging up to $3.10, for a total of 9.5 million units down from 10,689,005 units on Friday. Caribbean Cement rose 27 cents to end at $18, with 27,310 shares changing hands. Carreras ended with 5,212 shares trading at $53.05, Desnoes & Geddes had 53,472 units changing hands, to close at $30, Gleaner Company traded 948,928 shares to end at $1.90, Jamaica Broilers traded 145,457 shares to close at $9 as the price gained 12 cents. Jamaica Stock Exchange closed with 56,824 shares trading to endat $11, JMMB Group traded 172,798 shares to close with a rise of 34 cents to end at $9.85. Kingston Wharves traded 13,193 units to close at $10.60 for a new 52 weeks’ high, Mayberry Investments rose 2 cents to end at $4.02, by trading 38,701 shares. National Commercial Bank with 14,604 shares changing hands jumped $3.50 to end at $36, for a new 52 weeks’ high.
Pan Jamaican traded 9,124 shares to end $4.88 cents higher, at $85, Radio Jamaica closed at a new 52 weeks’ high of $4.50 to gain 50 cents in trading 31,200 shares. Sagicor Group fell 15 cents with 102,492 shares trading, to close at $14.51, Sagicor Real Estate Fund traded 69,495 units, the price closed down 60 cents at $11, Scotia Group ended with 11,923 shares changing hands and closed at $26.17, after falling by 81 cents. Scotia Investments gained 50 cents to close at $28 as 936,435 units traded, Supreme Ventures ended at $4.20 with 581,769 units changing hands and Proven Investments ordinary share, closed with a fall of 0.9 US cents, with 24,650 units traded, to end at 23 US cents.
Another record close for juniors – Monday
Honey Bun closed at a 52 weeks’ high of $5.10
The market ended with 3 stocks closing at new 52 weeks’ high and one at an intraday high, while 3 securities ended with no bids to buy and 9 had no stocks being offered for sale. A total of 6 stocks closed with bids higher than the last traded prices and one closed with a lower offer.
In trading, AMG Packaging closed at $4.85 after trading at $5 with 83,316 units changing hands. The company reported big increase in profits after trading closed on Friday with earnings for the full year to August being 78 cents per share, up from 45 cents in 2014, Caribbean Cream with 188,800 shares changing hands ended at $3.40 but traded at an intraday high of $3.60. Caribbean Flavours gained 36 cents while trading 11,806 units to end at $4.40, Caribbean Producers traded 33,704 units for a loss of 11 cents to end at $2.90. Consolidated Bakeries traded 71,000 shares, to end at $1.90 with a loss of 10 cents, Dolphin Cove fell 1 cent to end at $12.99, with only 850 units changing hands.
General Accident ended with 31,129 shares changing hands, in closing at $2, after rising 30 cents, Honey Bun traded 1,070 shares at $5.10, for a new 52 weeks’ high, with a gain of 10 cents. Jamaican Teas had 75,615 shares trading to close at $3.90 after rising 48 cents, Lasco Distributors with 153,661 shares changing hands and closed with a gain of 10 cents at $3.20. Lasco Financial closed with a 10 cents decline at $2.30 after trading earlier at $2.50, after 105,409 shares changed hands. Lasco Manufacturing traded 250,635 shares to end with a decline of 3 cents to $3.40 and Medical Disposables ended with 514,192 units changing hands to end with a gain of 50 cents to a new all-time high of $3.50.
Paramount more than doubles dividend
Paramount Trading will be paying a final dividend of 39 cents on November 23, 2015 to shareholders on record as at November 12.The ex-dividend date is November 10, 2015.
The company made profit of 95 cents per share for the fiscal year to May 2015 and 61 cents in 2014. The 2015 payment represents 41 percent of profit and equates to a dividend yield of 14.89 percent based on the price of $2.62 at the start of the year. For the quarter ending August earnings grew 27 percent to 28 cent per share versus 22 cents in the same period in 2014.
Paramount Trading paid a dividend of 15.1 cents per share payable on December 12 last year.
the company’s shares are listed on the junior market of the Jamaica Stock Exchange and last traded at $7.10.
Profit doubles for National Flour but…
National Four doubles profit but gains in Q3.
Trinidad’s National Flour Mills reported a 200 percent jump in profit for the six months to June of $20.57 million versus only $6.79 million in 2014, but for the nine months to September, growth slowed sharply, to an increase of 103 percent, to $29 million.
The sharp fall resulted from much slower growth in the September quarter, with profit after tax of $8.5 million, just up from $7.4 million in the similar 2014 quarter. The latest quarter reflects a continuation of the slow down in profits which occurred in the June quarter, with profit margin shrinking in that quarter. Earnings per share for the quarter ended at 25 cents versus 12 cents in 2014.
Revenue climbed 15 percent for six months, and is now up only 7 percent for the nine months to $359 million as revenues fell in the September quarter, to $103 million from $121 million for the September 2014 quarter. Cost rose a little faster in the September quarter, than it did for the June quarter, year over year, administrative cost jumped 32 percent to $30.3 million.
The company generated cash flow from operations of $44 million up from $28 million in 2014 and ended with cash and equivalent of $102 million up from $40 million at the end of September last year. Borrowings grew from $113 million to $137 million and payables were up from $27 million in September last year to $68 million, while equity stands at $223 million.
Helping the company, is the sharp fall in the price of wheat on the world market from a high of more than US$700 to just over US$500 to June but below US$500 per tonnes for quite a bit of the reporting period this year.National Flour manufactures and distributes flour is listed on the Trinidad and Tobago Stock Exchange (TTSE). Earnings for the full year to December should end around 35 cents per share. The stock trades at $1.97 around 5 times earnings, a low valuation. If the company can maintain the level of profit now being generated and improve on it in 2016, the stock stands to generate a good level of appreciation. Investing in the stock is not without risk. The cost of wheat makes up the bulk of direct cost, the ability for management to adjust prices if wheat prices change can be critical to the profitability. There are also political factors to consider as a large portion of the issued shares is under government ownership.
TCL closes at new high on TTSE
Trading fell back to levels more in line with what has been happing in the market for most of 2015 on the Trinidad and Tobago Stock Exchange on Monday and ended with 9 securities trading. 3 stocks closing higher, 2 declining and 12 remaining unchanged as 511,994 shares changing hands for a value of $7,109,116. Two stocks closed at new 52 weeks’ high.
At the close the Composite Index ending with a gain of 0.16 points at 1,149.07 the All T&T Index advanced by 0.06 points to 1,951.66 and the Cross Listed Index rose 0.04 points to 45.46.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 6 stocks with the bid higher than the last selling price and 3 stocks with offers that were lower.
Gains| Scotia Investments had 19,300 units trading higher by 4 cents to close at $1.65, Trinidad Cement closed 10 cents higher at a new 52 weeks’ high of $3.60, with 14,171 shares changing hands and Unilever Caribbean ended with 500 shares trading 1 cent up, for a new 52 weeks’ high of $67.41.
Declines| Trinidad and Tobago NGL slipped 20 cents in trading to close at $22.74 with 13,557 units. The stock remains under pressure with the bid on the stock closing at $22 to buy 293 shares with 89,620 units on offer at $22.75.
Firm Trades| Ansa McAl with 21 shares changing hands closed at $67.03. Clico Investment Fund closed with 276,408 shares valued at $6,223,560, changing hands to end at $22.51, First Citizens Bank traded 2,031 shares and closed at $35. Guardian Holdings closed with 1,530 shares changing hands at $12.80, National Flour Mills with 185,806 shares valued at $366,038 changing hands for a value of $887,000, fell 4 cents in closing at $1.96 and Republic Bank traded 200 shares and closed at $112.
TCL older owners screwed as profit rise
Trinidad Cement achieved a 135 percent jump in profit after tax due to shareholders for the quarter to September, but the data showed that the most of the minority shareholders have suffered a massive dilution in their earnings.
The company reports $74 million for the 2015 third quarter, compared with $30 million for the same period last year, year to date profit after tax leapt 558 percent to $395 million above the $60 million reported for similar period for 2014. All shareholders get 16 cents per share for the September quarter for each share they hold, the year to date results show them entitled to $1.18 or 7.65 times the September quarters’ earnings. The year to date profit is 6.8 times the prior year’s nine months figure, a difference of 12.5 percent.
The company through a rights issue increased the share capital which diluted the earnings per share. Instead of increased earnings after the company’s debt was restructured, leading to lower debt servicing cost, the majority of shareholders will see lower earnings per share going forward even as the company prevented some shareholders from participating in the issue and withheld pertinent information from most shareholders. As a result the earning per share for 2016 is likely to be no more than 70 cents compared to 96 cents in 2015 from continuing operations, even as profit is likely to rise.
Earnings per share from continuing operations amount to 15.5 cents for the quarter and $1.186 for the nine months. Full year earnings should end up around $1.40 but this includes approximately 44 cents relating to the one off restructuring credit, thus reducing the ongoing earnings to 96 cents per share.
Caribbean Cement factory- majority controlled by TCL
“This performance was largely driven by higher domestic sales volumes, and lower fuel and electricity costs at CCCL and ACCL” Wilfred Espinet Group Chairman and Nigel Edwards, a Director of the company told shareholders in a statement accompanying the interim financials. The company enjoyed a $206 million credit which is reflected mainly in the year to date results for 2015 as a result of restructuring the heavy debt in had incurred previously.
Finance cost for third quarter was $12.5 million lower than third quarter 2014 and ended at $35 million due both to the reduced interest rates from the new loans and a reduction of the principal loan balance from US$245 million to US$200 million. For the year to date finance cost fell to $145 million compared to $214 million in 2014.
Cash flow from operations amounts to $65 million I the quarter and $677 million of the nine months leading to cash at the end of the period at $302 million. The working capital moved to $340 million with current assets of $978 million and current liabilities of $633 million at the end of September. Non-current liabilities stand at $1.4 billion and equity at $1 billion.
The company shares are listed on the Trinidad and Tobago Stock Exchange (TTSE), it manufactures and distributes cement in the eastern Caribbean and Jamaica. The stock last traded at $3.50 on the TTSE on Friday October 30.
C&W falls 20 cents to $1 in morning session
Cable and Wireless fell by 20 cents to $1 in early trading on Monday with 891,328 units between $1 and $1.20. The stocks now has bid of 98 cents to buy 100,000 shares on the offer is 203,000 units at $1.09. The next closest offer is at $1.10 with 
841,000 shares with the closest bid at 97 cents and then 85 cents.
Trading resulted in 28 securities changing hands with a volume of 2,437,763 units as 20 stocks gained and 3 declined and a number of new all-time highs were reached with the Jamaica Stock exchange.
The Jamaica stock market after 90 minutes of trading, recorded gains in the indices. The All Jamaican Composite index jumped 1,661.85 points to 147,335.46 JSE Market Index rose 1,487.04 points to 132,771.08 the JSE combined index climbed 1,494.67 points to be at 137,277.71 and the junior market index rose 10.15 points to its highest level of 1,335.10.
