Dividend by Medical Disposables

November 3, 2014 by

Image courtesy of DreamDesigns/FreeDigitalPhotos.net

Image courtesy of DreamDesigns/FreeDigitalPhotos.net

Medical Disposables & Supplies declared their first dividend, since listing in December, last year.
Medical Disposables will be paying an interim dividend of 4 cents per share on November 19, to shareholders on record at November 14, 2014. The stock which is listed on the junior market of the Jamaica Stock Exchange, will start trading ex-dividend, on November 12, 2014.
The company is enjoying good times, with improved results for the September quarter, with profit after tax rising 66 percent for the quarter, versus the 2013 quarter. For the six months, profit after tax rose 60.6 percent, to $38.7 million, from $24 million.

Filed Under: Company News, Dividends Tagged With: ,

Scotiabank bottoms looking up on TTSE

November 3, 2014 by

scotiabankBuilding150x150Scotiabank seems to have hit bottom, with good buying coming into the market on the first trading day of November, pushing the price up by a small amount. IC insider has elevated the stock to BUY RATED status. At the close, there was 18,922 units on the bid to buy at $58 and a small volume to sell, at $59.50.
Trading on the Trinidad Stock Exchange ended with 15 securities changing hands, of which 5 advanced, 2 declined and 8 traded firm, ending with a total of 666,624 units, valued at $6,731,903.
At the close of the market, the Composite Index rose 0.73 points to close at 1,146.77, the All T&T Index gained 0.91 points to close at 1,963.23 and the Cross Listed Index fell / increased by 0.07 points to end at 43.29.
Gains| Stocks increasing in price at the close are, Guardian Holdings added 53,950 shares valued at $733,720 to end 9 cents higher at $13.60, Massy Holdings traded 43,706 shares valued at $2,996,483 to close with a gain of 2 cents to end at $68.56, Sagicor Financial Corporation traded 60 shares valued at $6.19 to close with a gain of 14 cents Scotiabank gained 2 cents to $58 while trading 13,544 units valued at $785,552 and seems to have clearly bottomed and West Indian Tobacco gained 23 cents to end the day at $119 while trading 2,425 units.
Declines| The stocks declining at the end of trading are, One Caribbean Media with 367 shares ended at $25.12 after losing a cent and Trinidad Cement with 144,893 shares traded for $289,858 closed at $2 after dropping 3 cents
TTSE sum 3-11-14 Firm Trades| Stocks closing with prices unchanged at the end of trading are, ANSA McAL with 685 shares closed unchanged at $66.17, Clico Investment Fund with 13,280 shares valued at $293,488 remained at $22.10, First Citizens Bank traded 13,331 shares to close at $36.75, Grace Kennedy contributed 128,489 shares with a value of $494,680 to end at $3.85, Jamaica Money Market Brokers traded firm at 45 cents after trading 1,038 units, National Commercial Bank with 200,000 shares changing hands for a value of $200,000 and closed at $1, National Enterprises traded 2,056 shares to close unchanged at $17.50 and Scotia Investments closed at $1.40 with 48,800 units changing hands.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bid higher than their last selling prices and 1 stock with the offer that was lower.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , ,

D&G increases dividend

November 3, 2014 by

D&GRed-StripeSilos280x150Desnoes & Geddes will be paying an interim dividend of 27 cents per share on December 15, to shareholders on record at November 13.
The stock will trade ex-dividend on November 11. The company paid an interim dividend of 20 cents per share and a special dividend of 5 cents per share on December 20, last year.
They also paid interim dividend of 10 cents per share and a special dividend of 15 cents per share on May 16, 2014.

Filed Under: Company News, Dividends Tagged With: , ,

Drop in export pushes up Jamaica’s trade deficit

November 3, 2014 by
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KingstonWharves150x150Jamaica’s trade deficit during the first seven months of 2014, deteriorated compared to the same period last year. The worsening position occurred as a result of a sharp fall in non-traditional exports, rather than increased imports.
The deficit ended at US$2.613 billion, compared to US$2.573 billion in the comparable period for 2013. The deterioration flowed from merchandise imports during the 7 months, valued at US$3.47 billion, decreasing by 2.4 percent or US$86 million, compared to the $3.55 billion recorded in the similar 2013 period. On the other hand, exports for the 2014 period, amounted to US$852 million, a decline of 12.9 percent or US$127 million below the US$979 million earned in the similar 2013 period.
Imports| According to the Statistical Institute of Jamaica (Statin), the decline in imports was largely influenced by lower spending on importation of Mineral Fuels, Chemicals, Beverages & Tobacco.
Exports fall| During the first seven months to July, traditional exports earned US$453 million, falling by 5.3 percent or US$25.6 million below the exports earnings during the 2013 period. Non-traditional export earnings from January to July 2014, fell by US$91 million or 20.2 percent, to US$360 million.

Filed Under: Breaking News, Economy, General Business News Tagged With: , , ,

October down, better in November

October 31, 2014 by

The Jamaica Stock Exchange, closed October with the prices of 5 stocks rising and 5 declining as 21 securities changed hands, ending in 1,856,647 units trading, valued at only $6,072,425, in all market segments. The market closed out the month slightly lower than it started at, measured by the market indices, but technical indicators as well as fundamentals, point to a better out turn for November.
JSE sum 31-10-14 IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator showed 13 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower. With Friday being the close of the month, the stronger closing bids are likely engineered by fund managers’ interest in boosting the value of stocks in their portfolios to boost the end of month performance and is worth watching in the coming days.
Main Market| The JSE Market Index lost 98.56 points to 71,706.29 and is down from the 72,238.36 points, September closed at. The JSE All Jamaican Composite index fell 110.21 points to close at 78,888.89 down on the close of September at 79,483.81 and the JSE combined index declined by 95.70 points to close at 73,559.56 compared to 74,034.71 at the end of September.
Gains| Stocks gaining with last traded prices, at the end of trading in the main market are, Ciboney with 100,000 shares trading, rose 1 cent to 8 cents, Desnoes & Geddes traded 36,000 shares, 15 cents higher at $4.95, Grace Kennedy had 21,330 shares changing hands 76 cents higher at $58, Jamaica Broilers exchanged 4,000 shares at $4.15 as the price closed with 5 cents gain and there was dealing in 2,100 Sagicor Group shares to close 1 cent higher to $9.66.
Firm| The stocks in the main market to close without a change in the last traded prices are, Carreras with 10,050 ordinary shares trading closed at $34.50, Gleaner had 80,708 units trading and closed at $1.05, Proven Investments with 3,650 shares at 18 US cents, Salada Foods with 1,000 shares closed at $7.85 and Supreme Ventures 40,800 shares traded to end at $1.70
Declines| The last traded prices of stocks with losses at the end of trading in the main market are, Jamaica Money Market Brokers had 7,596 ordinary shares changing hands 5 cents lower at $7, followed by National Commercial Bank with 6,000 units as 30 cents were shed to end at $17 and Scotia Group ended trading with 635 units, 15 cents cheaper at $19.60.
Preference| traded units at Jamaica Money Market Brokers 8.50% preference share traded 11,000 units at $3.43, Jamaica Money Market Brokers 8.75% preference share traded 981,568 units at $3 and Proven Investments 8% preference share traded 9,616 units at $5.

Filed Under: JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , ,

Slight October recovery for Junior market

October 31, 2014 by

JM ind 31-10-14 The Junior Market closed trading with 540,594 units, valued at $832,210 on Friday. The JSE Junior Market Index fell 0.33 points to close at 656.46, a few points higher, than the 653.79 points, September ended at. Only 5 securities traded, there were no advancing stocks while 2 declined.
At the close of the market, there were 4 stocks with bids higher than their last selling prices and only 1 stock with a lower offer. The junior market continues to exhibit weakness with 10 securities closing with no bids to buy. There were 6 securities that had no stocks being offered for sale.
The stocks that traded firm in the junior market are, Access Financial with 9,700 units to close at $10.01, Caribbean Flavours 67,195 units, closed at $2.35 and Lasco Financial with 6,540 units, ended at 98 cents.
The stocks with price losses are, Blue Power traded only 100 shares but lost 24 cents to $7.76, for a new 52 weeks’ low and Lasco Distributors with 457,059 units, closed 10 cents lower at $1.15.

Filed Under: JSE Junior Market, Stock Market Tagged With: , , ,

J$ make gains on Friday

October 31, 2014 by

The Jamaican dollar gained against the British Pound and the Canadian dollar and remained stable versus the US dollar on Friday, as foreign exchanged flows remained at normal levels.
FX sum 31-10-14On Friday, authorized dealers purchased the equivalent of US$31,518,654 versus US$32,649,087, on Thursday and sold the equivalent of US$28,175,798 compared with US$28,021,523 on Thursday. In US dollar trading, dealers bought US$26,675,958 compared to US$25,714,484 on Thursday. The buying rate for the US dollar lost 9 cents to $112.23 and US$25,607,049 was sold versus US$24,894,405 on Thursday, the selling rate was unchanged at $112.76. The Canadian dollar buying rate, fell $3.03 to $97.63 with dealers buying C$1,113,258 and selling C$606,883, at an average selling rate that dropped $1.40, to $100.58. The rate for buying the British Pound moved up 54 cents to $178.64, for the purchase of £1,850,586, while £447,466 was sold, at $180.24, a fall of 22 cents. Other currencies bought, amounted to the equivalent of US$928,466, while the equivalent of US$1,312,188, was sold.
FXHL 31-10-14Highs & Lows| The highest buying rate for the US dollar, fell 15 cents to $112.85, the lowest buying and the highest selling rates were unchanged at $91.85 and $117.70 respectively but the lowest selling rate jumped $18.15 to $110. The highest buying rate for the Canadian dollar fell 74 cents to $100.66, the lowest buying rate declined 74 cents to $79.31, the highest selling rate was unchanged at $102.76. The lowest selling rate declined 90 cents to $95.55. The highest buying rate for the British Pound, dipped 80 cents to $180.70. The lowest buying rate eased $1.82 to $143.55, the highest selling rate declined by $3.35 to $184.06 and the lowest selling rate dropped $1.55 to $172.95.

Filed Under: FX Market, Stock Market Tagged With: , , , , ,

7 stocks up but Republic drops 75c

October 31, 2014 by

RepublicBanklogo150x150 Trading on the Trinidad Stock Exchange closed with 16 securities changing hands of which 7 advanced, 4 declined and 5 traded firm, with a total of 244,650 units, valued at $9,307,775 trading.
At the close of the market, the Composite Index fell by just 0.49 points to close at 1,146.04, the All T&T Index rose 0.22 points to close at 1,962.32 rose and the Cross Listed Index fell 0.16 points to end at 43.22.
Gains| Stocks increasing in price at the close are, ANSA McAL added 11,518 shares valued at $762,135, to gain 2 cents to $66.17, Ansa Merchant Bank closed at a new 52 weeks’ high of $39.42, up a cent while 5,260 shares changed hands, Guardian Holdings gained a cent to close at $13.51 while trading 9,271 units, One Caribbean Media ended with a 1 cents increase to $25.13 with 500 shares, Trinidad Cement put on a cent to end at $2.03 with 5,600 units, Unilever was up 4 cents to close at a new 52 weeks’ high of $64.19 while 5,808 units changed hands with a value of $372,815 and West Indian Tobacco gained 16 cents to end the day at $118.77 as 4,110 shares were traded valued at $488,144.
TTSE sum 31-10-14 Declines| The stocks declining at the end of trading are, Massy Holdings traded 11,000 shares valued at $753,940 to close at $68.54 with a loss of 1 cent, Republic Bank with 27,285 shares being traded for $3,293,884 shed 75 cents to $120. Sagicor Financial contributed 27,078 shares, valued at $163,909 but fell 20 cents to close at $6.05, for a new 52 weeks’ low and Scotiabank traded 6,125 shares valued at $355,127 to close with 1 cent loss at $57.98 a new 52 weeks’ low.
Firm Trades| Stocks closing with prices unchanged at the end of trading are, Clico Investment Fund with 98,100 shares valued at $2,168,010 remained at $22.10, Firstcaribbean International Bank 645 shares to end at $5.50, First Citizens Bank traded 1,500 shares at $36.75, National Enterprises with 30,550 shares changing hands for a value of $534,325 closed at $17.50 and National Flour Mills with 300 shares ended at $1.10.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with the bid higher than their last selling prices and 3 stocks with offers that were lower.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , ,

Sales up margin down at Lasco Distributors

October 31, 2014 by

Peter Chin - Lasco Distributors' Managing Director

Peter Chin – Lasco Distributors’ Managing Director

Sales climb 17 percent for the September quarter, at Lasco Distributors to hit $2.7 billion and 10 percent in the six months to September, to reach $5.1 billion. Gross profit margin declined, leading to a growth of just 3.8 percent in gross profit, to $475 million from $457 million, for the quarter, and declined 2.2 percent to $910 million for the half year.
Operating cost jumped 15 percent in the quarter, to $377 million and just over 17 percent for the six months to $738 million, pushing profit down 19 percent to $112.5 million for the quarter, from $138.7 million in 2013 and down a much larger, 33 percent, to $203 million for the half year, versus $303 million in the 2013 period.
As disappointing as the second quarter numbers are, they represent a major improvement over the first quarter with a revenue increase of 4 percent, and a fall in profits of 45 percent compared to the 2013 June quarter.
Finances|The company has quite a bit of funds tied up in inventories $1.3 billion and receivables $1.7 billion, that are in excess of normal trading levels, cash funds on the other hand is up to $850 million and will be handy in helping to finance the 110,000 square foot warehousing facility, that they will be embarking on shortly, to meet what management says, is increasing demand flowing from new products to be distributed by the company.
The expected payment from their successful law suit against Pfizer is not yet booked and the amount not yet made public but should exceed $1 billion.
Lasco Manufacturing new "I Cool" drinks

Lasco Manufacturing new “I Cool” drinks

Lasco Distributors markets a wide range of household, foods and pharmaceutical products and is listed on the junior market of the Jamaica Stock Exchange. the company recently started the distribution of I Cool barnds of drinks its sister company Lasco Manufacturing commenced manufacturing recently, as well as Salada Foods products which it commenced distributing, at the start of the year.

Filed Under: Company News, Company Results Tagged With: , , , , , ,

Impressive sales growth at Medical Disposables

October 31, 2014 by

Kurk Boothe - Medical Disposables Managing Director

Kurk Boothe – Medical Disposables Managing Director

Sales revenue climbed impressively by 26 percent in the September quarter as well as year to date but operating profit performance is not as inspiring, being flat in both periods at Medical Disposables & Supplies. The company reports profit after tax at, 66 percent higher at $21 million for the quarter, versus the 2013 quarter.
In 2013 after taxation of $4.4 million, $13 million was left as net profit. For the six months, profit after tax of rose 60.6 percent to $38.7 million from $24 million, after accounting for $8.4 million in taxes.
For the quarter, gross profit grew 29 percent to $70.4 million compared to $54.5 million and for the six months an increase of 28 percent to$136 million. “This improvement was due to the increased sales in all categories and consistent review of our pricing structure to maintain gross margin efficiency,” Kurk Boothe, Managing Director said in his report to shareholders. The increase in gross profit was helped by an improvement in gross profit margins, increasing during the latest quarter to 33.14 percent from 32.12 last year and to 33.65 percent for the six months versus 32.90 percent in the same period of 2013.
Sales revenue climbed 26.2 percent to $283 million in the September quarter over the $224 million in 2013. For the half year, sales grew 26 percent to $540 million from $429 million in 2013. “This result was in keeping with the company’s strategic forecast of growing market share and widening the customer base in all categories of its business operations,” Boothe stated.
IC Insider understands that sales have moved to more than $100 million per month since the latter part of the last quarter. If this is maintained then it should lift profit going forward and could push earnings to around 40 cents per share for the current financial year.
Expenses| Total operational expenses increased 49.8 percent for the quarter and the half year to September to $47.6 million compared to $31.8 million in 2013 and to $93.8 million for the six months period.
“This increase was driven mainly by staff related expenses, utilities, professional fees and information technology services. Staff related expenses, in particular, were driven by the strategic decision to realign the staff complement and compensation to sustain the current growth, development and expansion of the business, Boothe said.
Finances| Trade receivables have climbed to more than two months of sales at $240 million and inventories have moved up as well to just under three months’ supply at $182 million. Cash funds are at $86 million but borrowed funds have climbed to $106 million.
The stock is one to watch with the price of the stock on the junior market of the Jamaica Stock Exchange at $1.92 at a PE less than 5 times the 2015 profit. The company declared a 4 cents per share dividend, payable in November 19.

Filed Under: Company News, Company Results Tagged With: , , ,
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