Unilever products – Unilever Caribbean continues to trade at new highs virtually each time it trades
Trading in the overall market ended with 10 securities changing hands on Tuesday with 3 stocks gaining, 1 declining and 7 traded with the price unchanged. A total of only 138,979 shares traded, valued at $2,663,997.
At the close of the market, the Composite Index fell 0.04 points to close at 1,154.05, the All T&T Index declined by 0.08 points to 1,961.51 and the Cross Listed Index remained at 45.47.
Gains| In trading, Angostura Holdings ended with a gain of 1 cent while 870 shares changed hands at $24.02. Clico Investment Fund stock price rose 1 cent to $22.51 with 69,400 shares trading at a value of $1,562,146 and Unilever Caribbean with 6,000 units valued at $402,060, changing hands at a new 52 weeks high of $67.01 to end 1 cent higher.
Declines| National Enterprises closed with 40 shares trading lower by a cent at $17.18.
Firm Trades| Flavorite Foods traded 1,061 units at $4.80, 
Guardian Holdings closed with 47,962 shares changing hands at $13.10 and valued at $628,302. National Flour Mills contributed 5,307 shares at $2.10, Sagicor Financial with 4,460 units trading closed at $6, Scotia Investments traded 3,800 units and closed at $1.50 and West Indian Tobacco closed with 79 shares changing hands at $125.40.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than their last selling prices and 3 stocks with offers that were lower.
[…] Unilever Caribbean operations suffered from dislocations associated with a new IT platform, resulting decline in sales and profit particularly in the first quarter. The company has now reported that in the second quarter the issues were resolved and service levels are now fully restored to our customers, thanks to enormous effort by employees succeeded in bringing about the turnaround. Despite these efforts, half year sales declined by 10.3%, driven predominantly by the declines in the first quarter performance. Profit after tax fell to $18.3 million down from $30.8 million in the prior year six months period. Earnings per share were 70 cents compared to 117 cents in the prior year. For the June quarter, the company generated revenues of $140.5 million versus $148 million in 2014 resulting in aftertax profit hitting $12.5 million from $17 million in 2014. A fall in selling, distribution and administrative cost in the 2015 second quarter versus 2014 helped cushioning the fall off in revenues and decline in gross profit that fell by $8.6 million, in 2014 there was $5.4 million in other revenues with none being earned in 2015. “Looking forward we expect the challenges of the regional economies to impact our growth prospects. In Trinidad and Tobago the uncertainty of the upcoming elections continues to affect the business environment. Regionally, recovery continues to be slow due to the depreciation of local currencies and shortage of US dollars across markets, which is cause for concern. While the recovery from the first half of the year remains a challenge, Unilever Caribbean is optimistic that the investment in our new IT systems and infrastructure will build the foundation for future growth. However, at this time the outlook for the rest of the year remains moderate” Pablo Garrido, Chairman of the company reported to shareholders. The stock last traded on the at $67 placing the PE at over 30 times earnings. […]