Trading remains buoyant on TTSE

Market activity ended on Wednesday resulted in more securities trading but with 20 percent fewer shares carrying a slightly higher value than on Tuesday, resulting in an equal number of stocks rising and falling at the close of the Trinidad and Tobago Stock Exchange.

Trinidad & Tobago Stock Exchange Head Quarters

Twenty two (22) securities traded compared to 21 on Tuesday, with five rising, five declining and 12 closing unchanged. The Composite Index rose 1.14 points to 1,421.49, the All T&T Index popped 1.10 points to close at 1,933.91 and the Cross-Listed Index added 0.17 points to end at 122.37.
A total of 353,428 shares were traded for $3,625,335 compared to 441,934 units at $3,562,074 on Tuesday. An average of 16,065 units traded at $164,788 compared to 21,044 shares at $169,623 on Tuesday. The average trade month to date, amounts to 18,497 units at $167,150. The average trade for July ended at 20,941 units at $221,079.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and none with lower offers.
At the close, Agostini’s traded 848 stocks at $24.55, Angostura Holdings ended at $16.49 in exchanging 1,182 units, Ansa Mcal had an exchange of 20 shares at $59. Calypso Macro Investment Fund shed 6 cents to close at $16.16 trading 5 stock units, Clico Investment Fund closed at $27 after trading 14,500 units, Endeavour Holdings fell 93 cents to end at a 52 weeks’ low of $7.01 with an exchange of 1,500 stocks First Citizens Bank fell 10 cents to $50.10 while exchanging 3,717 stock units, FirstCaribbean International Bank remained at $6.50 after 200 stocks changed hands, GraceKennedy ended at $6.30 in exchanging 243,414 units. Guardian Holdings traded 2,410 shares at $32.50, Guardian Media ended at $3.10 after 3,180 stock units crossed the market, JMMB Group closed at $2.05 after exchanging 650 units. Massy Holdings rose 40 cents to $80.50 after the trading of 2,988 stocks, MPC Caribbean Clean Energy climbed 8 cents to 98 US cents, with an exchange of 1,000 units. National Enterprises settled at $3.90 with an exchange of 20,616 units, NCB Financial Group popped 1 cent to $8.01 in switching ownership of 44,734 stocks. One Caribbean Media rallied 10 cents to $4.15 with the swapping of 1,000 stocks, Republic Financial Holdings spiked $2.50 to $138 in exchanging 3,033 stock units, Scotiabank closed at $59 after exchanging 1,508 stocks. Trinidad & Tobago NGL shed 25 cents to $17.70, with 620 shares crossing the market,  Cement lost 4 cents to close at $3.96 in switching ownership of 1,003 stocks and West Indian Tobacco settled at $32, with 5,300 stock units changed hands.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Construction boom boost Fosrich profits

After a few years of mediocre performance since it was listed in late 2017 on the Junior Market of the Jamaica Stock Exchange, Fosrich is enjoying a most robust year in 2021, with a surge in revenues and a major blast in profits as the construction sector is enjoying the best performance in history and lifting sales of entities involved in the sector.
Revenues for the June quarter blasted 33 percent to $544 million, from $408 million in the similar 2020 period, helping to contribute to a 28 percent increase in six months revenues of $1,093 million, up from $857 million in 2020. Net Profit leaped 336 percent in the second quarter to $76 million, up from just $17 million in 2020 and for the half year, profit bolted 414 percent to $115 million from a mere $22 million in 2020.
Gross Profit blew 44 percent past $169 million for the June quarter last year to $244 million this year and rose 29 percent from $339 million in last year to $435 million for the six months this year, resulting in improvement in profit margins.
“These increases were attributed primarily to the greater availability of the products required by the market. While the overall increase in revenues was 28 percent, the product lines that had significant increases were PVC which saw increases of 105 percent, hardware 93 percent, wiring devices 52 percent and control devices 48 percent,” the Managing Director, Cecil Foster advised shareholders about the increase in sales, in his commentary of the results.

FosRich traded at $7.99 on Tuesday.

Administration expenses, year-to-date, were $310 million, an increase of 14 percent over 2020, with $271 million. For the quarter, these expenses grew much faster than in the first quarter at 32 percent to $166 million from $126 million in 2020. “The changes were driven primarily by increased staff related costs for salary adjustments, increased sales commission due to improved sales performance and improvements in staff benefits, increased staff training cost with the launch of the new FosRich Corporate University, increased motor vehicle expenses, increased occupancy cost due to the commencement of obligations in January for the second Hayes factory building and increased depreciation charges,” Foster advised shareholders. Finance cost for the year-to-date was $51 million compared to $57 million for the prior reporting period.
The operations delivered gross cash flow of $152 million, but growth in receivables, reduction of inventories, addition to fixed assets and payments on loans and lease funding of $58 million left the net position, with a cash flow deficit of just $1 million. Current assets ended the period at $1.99 billion, including inventories of $1.37 billion, trade and other receivables of $424 million, and cash and bank balances of $33 million. At the end of June, current liabilities stood at $496 million and resulted in net current assets of $1.5 billion. A related party owes $288 million, being funds loaned to complete an apartment complex, with sales expected to be completed this year, with proceeds slated to pay off the amount during 2021.
 Shareholders’ equity stands at $983 million, up from the $869 million at the end of December 2020. Borrowings amount to $1.8 billion.
Earnings per share for the second quarter surged to 15 cents from 3 cents in the prior year and climbed to 23 cents compared to 4 cents in 2020. forecasts 60 cents per share for 2021 and $1 for 2022. The current year’s PE is now 13.3, with the last traded stock price at $7.99 on the Junior Market of the Jamaica Stock Exchange. The average Junior Market trades at a PE of 12.7 and net asset value is $1.96, with the stock selling at 4 times net book value.

August off to steady start in TTSE trading

Market activity ended on Tuesday, the first trading day of August, with the majority of stocks prices closing unchanged as rising stocks edged out those falling on the Trinidad and Tobago Stock Exchange as the volume of stocks changing hands jumped 143 percent, but with 21 percent fall in value compared to Friday’s activities.
Trading ended with 21 active securities, up from 18 on Friday, with five stocks rising, three declining and 13 ending unchanged.
The Composite Index rallied 2.87 points to close at 1,420.35, the All T&T Index gained 2.96 points to settle at 1,932.81 and the Cross-Listed Index advanced 0.39 points tand finished at  122.20.
A total of, 441,934 shares traded for $3,562,098 compared to 182,034 units at $4,513,902 on Friday
An average of 21,044 units traded at $169,623 compared to 10,113 at $250,772 on Friday. The average trade for July amounts to 20,941 units at $221,079.
The Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s ended at $24.55 in switching ownership of 534 shares, Angostura Holdings ended at $16.49 after trading 5 shares, Ansa Mcal remained at $59, with 2,855 stock units clearing the market. Clico Investment Fund closed at $27 after exchanging 1,021 stock units, Endeavour Holdings ended at $7.94 in exchanging 3 units. First Citizens Bank traded 100 stock units at $50.20, GraceKennedy advanced 15 cents to $6.30 while exchanging 353,258 units, Guardian Holdings ended at $32.50 with an exchange of 6,905 shares. JMMB Group gained 2 cents in closing at $2.05 in exchanging 4 stock units, L.J Williams B share slipped 16 cents to $1.34 in an exchange of 50 stock units, Massy Holdings shed 40 cents to $80.10 while exchanging 1,887 stocks. National Enterprises remained at $3.90 in trading 22,770 stocks, National Flour Mills increased 5 cents to $2.05 trading 7,600 stock units, NCB Financial Group closed at $8, with 29,779 stock units changing hands. Prestige Holdings settled at $7.50 after exchanging 197 stocks, Republic Financial Holdings ended at $135.50, with 200 stock units crossing the market, Scotiabank remained at $59 in switching ownership of 2,160 stock units. Trinidad & Tobago NGL climbed 45 cents to $17.95 in trading 5,577 shares, Trinidad Cement rose 25 cents to close at a 52 weeks’ high of $4, with 1,010 stock units clearing the market, Unilever Caribbean slipped 1 cent to $16.32 in switching ownership of 1,205 shares and West Indian Tobacco remained at $32 with the swapping of 4,814 stock units.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Stocks closed out July mixed on the TTSE

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Market activity ended on Friday, with a 375 percent spike in the number of shares trading, with the value surging 485 percent above Thursday outturn, resulting in an equal number of stocks rising and falling at the close of trading on the Trinidad and Tobago Stock Exchange.
At the close, 18 securities traded compared to 15 on Thursday, with an equal number of six rising, declining and remaining unchanged. The Composite Index dipped 3.14 points to 1,417.48, the All T&T Index shed 0.19 points to 1,929.85 to close out July with a modest gain over just over one percent for the month, leading to a rise of 8.9 percent year to date. The Cross-Listed Index slipped 0.88 points to settle at 121.81.
A total of 182,034 shares traded for $4,513,902, up from 38,309 units at $772,201 on Thursday. An average of 10,113 units traded at $250,772 compared to 2,554 at $51,480 on Thursday. The average trade for the month to date amounts to 20,941 units at $221,073 versus 21,495 units at $219,555. The average trade for June amounts to 45,770 units at $724,497.
The Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and none with lower offers.
At the close, Angostura Holdings rallied 6 cents to $16.49 after trading 298 shares, Ansa Mcal spiked $1.50 to $59 in exchanging one unit, Calypso Macro Investment Fund settled at $16.22 in switching ownership of 836 units, Clico Investment Fund fell 50 cents to $27 in switching ownership of 4,833 stock units. First Citizens Bank climbed 20 cents to $50.20 in an exchange of 43 shares. GraceKennedy closed at $6.15 in switching ownership of 223 units, Guardian Holdings fell $1.25 in ending at $32.50 after trading  30,221 units, JMMB Group inched 1 cent higher to $2.03, with 21,440 stock units changing hands. L.J. Williams B share ended at $1.50 with an exchange of 7 stock units, Massy Holdings spiked 40 cents to $80.50 in switching ownership of 49 stocks, National Enterprises advanced 5 cents to $3.90 after 21,504 shares changed hands. National Flour Mills closed at $2 with the swapping of 500 stock units. NCB Financial Group declined 15 cents to $8 after exchanging 10,000 units. Republic Financial Holdings slipped 5 cents to $135.50, with 674 stock units crossing the market. Scotiabank settled at $59 after exchanging 30,329 stock units, Trinidad & Tobago NGL dipped 2 cents to $17.50, finishing, with 29,082 units changing hands, Unilever Caribbean ended at $16.33 while exchanging 15,605 stocks and West Indian Tobacco dropped 49 cents $32 after 16,389 stock units crossed the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

GraceKennedy blast profits higher

GraceKennedy earned a 12 percent rise in revenue to $63.4 billion, up from $54.4 billion in the 2020 corresponding period. Revenues for the June quarter rose 15.8 percent from $26.6 billion to $30.8 billion.
Profit before tax for the half year was up 20.4 percent to $5.4 billion, reflecting an improvement over the $2.5 billion in 2020 and climbed 15.6 percent to $2.9 billion for the quarter from $2.5 billion in 2020.
Profit after tax attributable to stockholders for the half year bolted 30.6 percent to $3.6 billion from $2.75 billion over 2020 and rose 35 percent from $1.42 billion to $1.9 billion in the June quarter. Earnings per share for the period was $3.62, compared to $2.77 in 2020, while the second quarter recorded earnings of $1.94, up from $1.44 in 2020. In its report on the six-month performance, the company stated, “GK’s Jamaican food distribution business (GK Foods – Domestic) performed well in the first six months of 2021, recording an increase in PBT and revenue over the prior year. GK’s Manufacturing Division recorded strong gains in the first half of 2021, with growth in revenue and PBT compared to the first half of 2020. This performance was primarily driven by significant demand in the Jamaican and international markets for our Jamaican manufactured products, including Tastee Cheese, Tropical Rhythms, canned vegetables, frankfurters and vienna sausages. GK’s International Foods business exceeded both its revenue and PBT half year targets, with all business units surpassing PBT over the prior year. GraceKennedy Financial Group reported strong growth in both revenue and pre-tax profit for the first half of 2021. GK’s Insurance segment also continues to yield positive results, with GK General Insurance recording double digit growth in revenues in the second quarter compared to the same period in 2020. GraceKennedy Money Services exceeded its revenue and pre-tax profits when compared with the corresponding period of 2020.”
The shares that are listed on the Jamaica Stock Exchange, traded with a 30 cents loss on Thursday ahead of the results to end at $99.70 but is up 55 percent for the year to date.

Low trading for Trinidad stocks

Declining stocks outpaced those rising almost two one at the close of market activity on Thursday, with an 11 percent rise in the volume of shares trading over Wednesday activities, even as the level of trading remains subdued, resulting in mixed fortune for the Trinidad and Tobago Stock Exchange.
At the close, 15 securities traded compared to 16 on Wednesday, with four rising, seven declining and four remaining unchanged. The Composite Index shed 2.07 points to 1,420.62, the All T&T Index rose 2.01 points to 1,930.04, and the Cross-Listed Index shed 0.90 points to settle at 122.69.
Overall, 38,309 shares traded for $772,201 up from 34,566 units at $716,969 on Wednesday.
An average of 2,554 units traded at $51,480 compared to 2,160 at $45,070 on Wednesday. For the month to date, the average shares traded amounts to 21,495 units at $219,555 versus 22,338 units at $227,036. The average trade for June ended at 45,770 units at $724,497.
The Investor’s Choice bid-offer indicator shows eight stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Ansa McAl declined 50 cents to $57.50 in exchanging 2,646 stocks, Calypso Macro Investment Fund fell 28 cents to $16.22 after exchanging 200 units, Clico Investment Fund climbed 50 cents to $27.50, with 4,244 stock units changing hands. First Citizens Bank dipped 30 cents to $50 after trading 71 stocks, GraceKennedy closed at $6.15 in switching ownership of 962 shares. Guardian Holdings spiked 75 cents to $33.75 in swapping  6,267 units, JMMB Group slipped 8 cents to $2.02 while exchanging 15,982 shares, Massy Holdings shed 40 cents to end at $80.10, with 1,583 units changing hands. NCB Financial Group dropped 4 cents to $8.15 in an exchange of 230 shares, Prestige Holdings remained at $7.50, with 1,550 stocks crossing the exchange, Republic Financial Holdings advanced 4 cents to $135.55, trading 73 stock units. Scotiabank rose 45 cents to $59, with 232 units clearing the market, Trinidad & Tobago NGL shed 3 cents to $17.52 in switching ownership of 3,000 shares, Unilever Caribbean closed at $16.33 with the swapping of 500 units and West Indian Tobacco traded 769 stock units at $32.49.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Rising stocks edged falling ones on TTSE

Market activity ended on Wednesday, with the market having mixed results after 89 percent fewer shares were tradedaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa with an 81 percent lower value than on Tuesday, resulting in more stocks rising than falling at the close of trading on the Trinidad and Tobago Stock Exchange.
Sixteen (16) securities traded compared to 19 on Tuesday, with four rising, five declining and seven remaining unchanged. The Composite Index increased 6.10 points to 1,422.69, the All T&T Index lost 0.54 points to settle at 1,928.03 and the Cross-Listed Index advanced 1.85 points to 123.59.
Overall, 34,566 shares traded for $721,122 down sharply from 307,359 units at $3,882,610 on Tuesday.
An average of 2,160 shares traded at $45,070 compared to 16,177 at $204,348 on Tuesday. The average trade for the month to date amounts to 22,338 units at $227,041 versus 23,344 units at $236,111. The average trade for June amounts to 45,770 units at $724,497.
The Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s ended at $24.55, after 2,000 shares were traded, Angostura Holdings declined 6 cents to $16.43 after 203 stock units changed hands, Endeavour Holdings remained at $7.94, after trading 523 units, First Citizens Bank rose 30 cents to $50.30 after the trading of 1,902 shares. GraceKennedy ended at $6.15 in exchanging 314 units, L.J Williams B shares ended at $1.50, with 57 stocks changing hands, Massy Holdings settled at $80.50 in trading 417 units. National Flour Mills shed 4 cents to $2 after an exchange of 4,161 shares, NCB Financial Group popped 19 cents to $8.19 after trading 9,515 stock units, One Caribbean Media rallied 5 cents to $4.05, with 1,000 units crossing the market. Point Lisas settled at $3.15 in exchange ng 1,224 stocks, Prestige Holdings climbed 5 cents to $7.50 in switching ownership of 2,000 stock units, Scotiabank declined 45 cents to close at $58.55 in exchanging 4,391 shares  Trinidad & Tobago NGL fell 40 cents to $17.55 with an exchange of 2,500 stock units, Unilever Caribbean ended at $16.33 while exchanging 1,220 units and West Indian Tobacco slipped 1 cent to $32.49 in trading 3,139 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Trinidad stocks falter on increase trades

Market activity spiked on Tuesday after investors traded 106 percent more shares than on Monday and carried 69 percent higher value as trading, resulting in more stocks falling than rising and pushing the market indices down at the close of trading on the Trinidad and Tobago Stock markets Exchange.
At the close, 19 securities traded compared to 16 on Monday, with three stocks rising, eight declining and eight remaining unchanged.
The Composite Index declined 8.86 points to settle at 1,416.59, the All T&T Index dropped 17.14 points to 1,928.57 and the Cross-Listed Index remained unchanged at 121.74.
A total of 307,359 shares traded for $3,882,610, up from 149,102 units at $2,292,097 on Monday.
An average of 16,177 units traded at $204,348 compared to 9,319 at $143,256 on Monday. The average trade, month to date amounts to 23,344 units at $236,106 versus 23,795 units at $238,104. The average trade for June amounts to 45,770 units at $724,497.
The Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, Agostini’s traded 702 shares at $24.55, Angostura Holdings remained at $16.49 with a transfer of 136 units, Ansa McAL declined $2 to end at $58 in switching ownership of 256 stock units. Calypso Macro Investment Fund settled at $16.50 after trading 1,500 units, Clico Investment Fund shed 50 cents to $27, with 24,508 stock units clearing the market, First Citizens Bank closed at $50 in exchanging 5,703 shares. GraceKennedy slipped 15 cents to $6.15, with 217,673 stocks crossing the market, Guardian Holdings dropped 75 cents to $33 in an exchange of 9,050 shares, Guardian Media remained at $3.10 in transferring 884 units. Massy Holdings popped 6 cents to $80.50 with the swapping of 2,189 stocks, National Enterprises dipped 5 cents to $3.85 with 2,000 shares clearing the market, National Flour Mills rallied 4 cents to $2.04 in switching ownership of 1,387 stocks. NCB Financial Group dipped 1 cent to $8 with 15,691 stock units changing hands, Point Lisas closed at $3.15 with an exchange of 3,000 stocks, Prestige Holdings slipped 5 cents to $7.45 in switching ownership of 2,000 shares. Republic Financial Holdings inched 1 cent higher to $135.51 in exchanging 5,229 stocks. Scotiabank shed 75 cents to end at $59 with an exchange of 168 shares, Trinidad Cement closed at $3.75 in trading 2,640 stocks and Unilever Caribbean remained at $16.33 with 12,643 units crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

Fontana coming to Portmore

Fontana announced plans to open its 7th location in Portmore, St. Catherine to be located at Braeton Parkway and Municipal Drive, adjacent to the new Pricemart and is expected to be opened late 2022 or early in 2023. The branch will be a fulfillment of expansion plans announced when the company went public in 2018.
Ray Therrien, Executive Director at Fontana in commenting on the new development stated, “We’re really excited to bring Fontana to Portmore and its surrounding communities.  It’s a great location that brings with it a large population covering a wide cross-section of people, and Fontana will provide an easy, safe and convenient shopping experience.” he said. “We have been assessing the opening of a store here, and we are honored to have the opportunity to serve them with our best-in-class pharmacy services.”
Following the company’s more modern iteration seen at the uber-popular Waterloo Square store, this new addition to the pharmacy chain will include a state-of-the-art pharmacy, a one-stop beauty hub, a baby and children’s selection, an extensive home décor collection, a business centre, courier services and over 200 parking spaces.
“We plan to deliver exceptional product breadth in a one stop location; it’s what our customers expect,” said Anne Chang, Managing Director of Fontana Pharmacy. “Our strategy is to continue to improve our stores with each new location, expediting innovation to make shopping faster and easier for our customers.  Portmore will benefit from being the latest great Fontana store.”
Furthermore, the new store will also have an entire department dedicated to Jamaican Artisan products, like its counterpart at Waterloo Square; Fontana’s way of embracing and supporting Brand Jamaica. Local authors and creators, who have benefitted from using the company as a distribution chain through shelf placement, will continue to benefit in this regard.
The new location is part of a larger development project and is anticipated to open in late 2022 or early 2023.  While not committing to a specific opening date, Executive Director Therrien commented that “the company is eager to get started on fulfilling the potential of a partnership with the people of Portmore.”
Fontana presently has 6 locations dispersed throughout the island including two in Kingston, Mandeville, Montego Bay, Ocho Rios, and Savanna-La-Mar.
Investment in the new location will be in excess of $100,000,000 and employ roughly upwards of 80 Jamaicans.

Gains for Trinidad stocks

Market activity ended on Monday, with the market rising after 88 percent fewer shares were traded with a 32 percent lower value than on Friday, resulting in vastly more stocks rising than falling at the close of trading on the Trinidad and Tobago Stock Exchange.

Trinidad & Tobago Stock Exchange Head Quarters

At the close, 16 securities traded, down from 19 on Friday, with seven rising, two declining and seven ending unchanged. The Composite Index advanced 3.72 points to 1,425.45, the All T&T Index climbed 5.41 points to 1,945.71 and the Cross-Listed Index popped 0.27 points to settle at 121.74.
Overall, 149,102 shares traded at $2,292,097, down from 1,197,083 units at $3,373,497 on Friday.
An average of 9,319 shares traded at $143,256 compared to 63,004 at $177,552 on Friday. The average month to date trade amounts to 23,795 units at $238,104 versus 24,605 units at $243,410. The average trade for June amounts to 45,770 units at $724,497.
Investor’s Choice bid-offer indicator shows five stocks ending, with bids higher than their last selling prices and three with lower offers.
At the close, Agostini’s exchanged 3,600 shares at $24.55, Angostura Holdings popped 5 cents to $16.49, with 675 stock units crossing the exchange, Calypso Macro Investment Fund settled at $16.50 after 455 stocks cleared the market, Clico Investment Fund ended at $27.50 after an exchange of 7,093 stock units. First Citizens Bank lost 30 cents to close at $50, after exchanging 250 stock units. FirstCaribbean International Bank closed at $6.50 after trading 78 stocks, GraceKennedy increased 31 cents to close at a 52 weeks’ high of $6.30 in switching ownership of 89,984 shares, Guardian Holdings advanced 20 cents to $33.75 with an exchange of 19,480 stocks. JMMB Group increased 5 cents to close at $2.10, with the swapping of 11,018 units, Massy Holdings advanced 39 cents to end at $80.44, with 8,270 stocks changing hands, National Enterprises gained 20 cents in closing at $3.90, with 2,014 units crossing the market. Prestige Holdings ended at $7.50 with an exchange of 2,510 stocks, Scotiabank settled at $59.75, after trading 164 units, Trinidad & Tobago NGL dropped 5 cents in trading 2,011 shares to close at $17.95. Trinidad Cement traded 500 stocks at $3.75 and Unilever Caribbean climbed 3 cents to $16.33 in trading 1,000 stocks.

Prices of securities trading are those for the last transaction of each stock unless otherwise stated.