jm-mcl



Recent Items about: jm-mcl

Express Catering A ‘Buy’ – JMMB

Analysts at the Jamaica Money Market Brokers Group Ltd have released their analysis on the initial public offer for Express Catering Ltd. Based on their insight, they have put an overweight / buy rating on the offer. Today is the last day to sign up for what is expected to be another oversubscribed offer from Mayberry Investments Ltd.

Based on their analysis

  • They believe the shares are under-priced relative to shares currently listed on the Jamaica Stock Exchange at the offer price of $1.50.
  • They view the company positively as it is a foreign exchange income generator with an exclusive contract to provide its services in a high traffic airport.
  • Plans to expand the offerings to include the Starbucks brand, the international coffee food chain, popular in the United States and Canadian markets, should augur well for continued growth.

Continue Reading

Bulletin

Margaritaville Controlled Express Catering To Raise $491.3m. Valuing Company At J$2.5 Billion

Highlights

  • The company has concession arrangements to sell food and beverages at the Sangsters International Airport in Montego Bay with a number of reputable international and local brands
  • Raising J$491.3m from the sale of 327.5m shares at J$1.5 per share. Valuing the company at ~J$2.5b
  • Would become the 4th largest public company in the Caribbean in the Hotels, Restaurants & Leisure industry
  • Owned by the Margaritaville St. Lucia Inc.
  • Currently profitable. Earned net profits of US$1.1m in 2016 from sales of US$14.1m (compared to profits of US$590k in 2015 and sales of US$13.6m)
  • Recently launched its US$3.5m 7 year preference share to raise funds
  • Recently entered an agreement to operate the Starbucks coffee franchise. Construction to begin within 6 months

Continue Reading

Bulletin

Oil Prices Hit 9 Month Low. Did We Say More IPOs Ahead?

Here is the latest weekly digest (Jun 19th – Jun 25th, 2017). A quick easy read of this week’s top and most relevant business news. No fluff, just the highlights.

U.S. crude-oil prices on Tuesday retreated into bear-market territory, defined as a drop of at least 20% from a recent peak, as the industry continues to be dogged by oversupply concerns. Continue Reading

Weekly Review

Cable Bahamas Listed. Marley Invests In ‘High Times’ Brand

Here is the latest weekly digest (May 25th – Jun 4th, 2017). A quick easy read of this week’s top and most relevant business news. No fluff, just the highlights.

High Times, the magazine that has chronicled the transformation of marijuana use from an underground vice to a major American business, said on Thursday that it had been acquired by a group of investors that includes Damian Marley, son of the reggae star Bob Marley.’ This according to the New York Times.

The High Times is distinguishing itself as the definitive resource for all things cannabis, since 1974. Continue Reading

Weekly Review

Market Momentum – Companies Report, Market Responds. Sandals Sale

Here is the latest weekly digest (May 8th – May 14th, 2017). A quick easy read of this week’s top and most relevant business news. No fluff, just the highlights.

As predicted last week, this has been a big week for the market. Quite a few companies released results and we saw the related movements in the prices of a few stocks. I expect that we will continue to see movement in the prices as people digest the results and also as more results come out this week.

There were 12 stocks advancing more than 10% this week (compared to 7 last week). They were

  • PULS making a 53.04% jump,
  • KEX (up 22.6% after jumping 24.4% last week. The stock is now up 52.4% since the start of this year),
  • MTL (up 30.8%%),
  • ISP (by +30.1%),
  • CFF (by +27.9%),
  • CCC (by +18.1%),
  • 1834 (by +17.8%),
  • and others including BRG (+17.5%), JETCON (+14.11%), ROC and KREMI.

Continue Reading

Weekly Review

Big Week Ahead. Starbucks Hits MoBay & Digicel and TSTT Make Acquisitions

Here is the latest weekly digest (May 1st – May 7th, 2017). A quick easy read of this week’s top and most relevant business news. No fluff, just the highlights.

We are now approaching one of the busiest times of the year for quarterly results. Over the next week or 2 a large number of companies should be reporting quarterly results for the quarter ended March 2017, and this should definitely have an impact on trading activity over the days that follow – as we get a glimpse into the performance of these companies. Continue Reading

Weekly Review

March A Busy Month For Stocks, SOS IPO, Property Taxes & Brexit

Here is the latest weekly digest (Mar 27th – Apr 2nd, 2017). A quick easy read of this week’s top and most relevant business news. No fluff, just the highlights.

The first quarter of 2017 is now behind us. Yes, believe it or not the first 3 months of 2017 are history, with 9 more months to go.

For March, big winners for the month were KPREIT up 48.6%, ISP by 37.2%, CBNY by 29.4% and another 10 more stocks which advanced more than 10%. Declines for the month include BPOW by 36.3%, MTL by 28.1%, CWJ by 26.0%, and JSE, MUSIC and PURITY all down by close to 25%. Continue Reading

Weekly Review

Brazil Beef Ban, Trump-care Trouble, Grenada Growth

Here is the latest weekly digest (Mar 20th – Mar 26th, 2017). A quick easy read of this week’s top and most relevant business news. No fluff, just the highlights.

The market closed down another 2.1% this week, bringing the total decline for the month so far to 4.8% (March). Remember the combined index grew by 10% in January and another 9% in February. At this rate of decline… well, let’s not worry too much about that :).  It seems however that some of the new year rush has cooled off. Despite that however there are still lots of opportunities out there plus this could be a good opportunity to invest.

There were not much stocks seeing major advances this week. PULS, 1834, BRG, and JBG all advanced more than 10% this week. JBG closed the week at $15.95, BRG at $13.01, 1834 at $1.60 and PULS at $8.5. MTL and CBNY led the declines this week tumbling by more than 20%. RJR also fell by 12%. Continue Reading

Weekly Review