Desnoes & Geddes Ltd. (D&G) yesterday posted a 29.1% jump in earnings to J$ 0.39 per share for the nine month period ended march 31, 2009, up from 0.30 per share. Despite an increase in cost of sales and general, selling & administration expenses, D&G was able to push up income overall. Overseas export volumes jumped 23% mainly due to a 26% rise in volumes to the U.S. as Red Stripe continues to outperform the premium imported beer category. D&G is currently trading 1.58 times book value, and has a return on equity of 19.34%.
- Desnoes & Geddes Reports Solid 9M Results as Marketing Costs Continue to Decline
- Jamaica Producers Group Ltd Positions Itself To Rebound After Larger Loss For YE 2008
- Pan Caribbean Financial Services Ltd Q01 2009 Earnings Jump
- Salada Foods Jamaica Ltd Cuts Costs Across the Board in Q02 2008-2009
- Hardware and Lumber Ltd Begins 2009 with Third Consecutive Quarterly Loss
In Jamaica Stock Exchange activity yesterday (May 10, 2009), here were the major movers:
Capital & Credit Financial Group Ltd. ended up by 13% (closing price $4.50). Capital & Credit has advised of its annual general meeting to be held at the Knutsford Court Hotel on May 13, 2009. One question that’s sure to be asked relates to the savings expected from the redundancy exercise pursued earlier this year. Another key question could be about what revenue will augment the continual fall off in net gains on securities trading.
Sagicor Life Jamaica Ltd. ended down by 3% (closing price $4.34). AM Best (a company that provides news, ratings and financial data products and services for the insurance industry) has revised its outlook to negative alongside the affirmation of the financial strength rating of A to Sagicor Life. The international insurance rating agency highlighted Jamaica’s low GDP growth over the past decade, high inflation rates and a depreciating Jamaican dollar among the factors influencing this downward revision.
- Hardware & Lumber Ltd Begins 2009 With Third Consecutive Quarterly loss
- Carlton Savannah REIT (Jamaica) Ltd Announces Resignation of Mr. Stuart White for personal reasons
- Desnoes & Geddes to consider payment of second interim dividend for 2009
- Angostura Holdings Ltd. (owners of Wray & Nephew) Announces Delay in 2008 Audited Financial Statements
In Jamaica Stock Exchange activity yesterday (May 7, 2009), here were the major movers:
Seprod Group of Companies Ltd. ended up 5% (closing price – $14.50). Good results are seldom delayed; as such, Seprod impressed with theirs which was released earlier this week. For the first quarter of operations, gross profit of J$695M (growth of 31%) resulted from revenues of J$2.483B (up 24%). The real extraordinary boost to profitability came in finance and other operating income, which was buoyed by foreign exchange gains, and amounted to J$313M, an increase of 243%.
Supreme Ventures Ltd. ended down 5% (closing price – $2.20). The just concluded budget debate has brought and popularized two terms in the national psyche – rolled oats and sin taxes. While a definition of the former will hereby be deferred, sin taxes relate to taxes levied by the state on goods and services that are regarded as vices. These are mainly alcohol, tobacco and gambling. It appears though that Supreme Ventures has escaped additional burden this year.
In Jamaica Stock Exchange activity yesterday (May 6, 2009), here were the major movers:
Pan Jamaican Investments Trust Ltd. ended up 6% (closing price – $28.50). The Government’s stated intention to relocated the offices of some ministries from the New Kingston area will at the very least affect Pan Jam by way of the basic tenets of demand and supply. Less demand with supply equals lower price (all other things being equal).
Jamaica Pegasus Ltd. ended down 7% (closing price – $12.51). The UDC’s apparent intention to sell its almost 60% stake may have distracted some investors from the release of their audited financial statements. Jamaica Pegasus’ net profits of J$55M is impressive or important in the context of determining a sale price. The shareholders equity of $3.860B would be more of a concern, bearing in mind that it takes into account land and building valuations which were done in March of this year.
Index Activity
JSE Market Index 79,794.38 points advanced by 79.97 points (0.10 %)
JSE Select Index 1,704.12 points advanced by 7.28 points (0.43 %)
JSE All Jamaican Composite 62,787.83 points advanced by 148.20 points (0.24 %)
Stock Activity
Stocks Traded : 21
Winners : 10 Losers : 5 Traded Firm : 6
Total Volume : 997,631 Total Value : $8,533,013.87
