Market Updates – Friday October 28, 2011

October 30, 2011

JSE Market Changes

  • The Board of Directors of Desnoes & Geddes Limited (DG) has declared a first interim dividend for the year 2011/2012 of $0.20 per share payable on December 28, 2011 to shareholders on record as at December 12, 2011. The ex-dividend date is December 8, 2011. DG has released its unaudited results for the first quarter ended September 30, 2011.
  • The Board of Directors of National Commercial Bank Jamaica Limited will meet on November 3, 2011 to consider the payment of an interim dividend.
  • Mayberry Investments Limited has released its unaudited results for the third quarter ended September 30, 2011.
  • Jamaica Producers Group Limited and Pan Jamaican Investment Trust Limited have announced their investment to acquire the business and assets of Mavis Bank Coffee Factory Limited (“MBL”) with effect from October 18, 2011. MBL is controlled by the Development Bank of Jamaica. The new joint venture company will trade as Mavis Bank Coffee Factory (“MBCF”). MBCF is a producer and exporter of Jamaica Blue Mountain Coffee and is the owner of the Jablum brand of Jamaica Blue Mountain Coffee.

TTSE Market News

  • Supreme Ventures Limited has informed the Exchange that a Board Meeting will be held on Saturday, November 5th, 2011 at 10:00 a.m. to consider the payment of an interim dividend. Further details will be provided after said meeting.
  • Unilever Caribbean Limited reported an improved overall performance in the Third Quarter of 2011 with Sales
  • increasing by 12.5% over the same period last year, bringing year-to-date Sales up to 5.3% more than 2010. Their Gross margins continue to be challenged by rising input costs, the industrial relations climate and competitive pressures in the prevailing tight market conditions.
  • In spite of this they were able to grow their year-to-date Profit after Tax for the year by 9.8% over last year, as a result of tight control of all areas of expenditure.

Market Highs

  • Kingston Properties Limited traded at its 52-week high of $4.50.
  • Barita Investments Limited traded at its 52-week high of $3.65.
  • Lasco Distributors Limited traded at its 52-week high of $13.25.
  • Lasco Manufacturing Limited traded at its 52-week high of $13.70.
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