Supreme Ventures cuts 15 staff in May Pen. NCB, JMMB trade higher – Aug 22, 2011

Market Summary:

In Monday’s trading session, the overall Market activity on the markets resulted in the trading of 29 stocks of which 10 advanced, 11 declined and 8 traded firm.

The Overall Market Volume (excluding blocks) amounted to 3,559,982 units valued at $21,004,316.36, with the following companies representing the volume leaders: –

• Cable & Wireless (Jamaica) Ltd. with 1,406,464 units, amounting to 39.51% of the market volume
• Sagicor Life Jamaica Limited with 921,271 units, amounting to 25.88% of the market volume
• Jamaica Money Market Brokers Ltd with 507,001 units, amounting to 14.24% of the market volume

Main Market

In Monday’s trading session, the Regular Market activity resulted in the trading of 20 stocks of which 5 advanced, 7 declined and 8 traded firm.
Regular market volume (excluding blocks) amounted to 3,234,933 units valued at $19,420,221.34, with the following companies representing the volume leaders: –

• Cable & Wireless (Jamaica) Ltd. with 1,406,464 units, amounting to 43.48% of the market volume
• Sagicor Life Jamaica Limited with 921,271 units, amounting to 28.48% of the market volume
• Jamaica Money Market Brokers Ltd with 507,001 units, amounting to 15.67% of the market volume

Junior Market

In Monday’s trading session, the market volume (excluding blocks) amounted to 325,049 units valued at $1,584,095.02

• Blue Power Group Limited with 152,474 units, amounting to 46.91% of the market volume
• Lasco Financial Services Limited with 68,300 units, amounting to 21.01% of the market volume
• Lasco Manufacturing Limited with 38,620 units, amounting to 11.88% of the market volume

Other News

• Supreme Ventures Limited (SVL) has announced the rationalization of its gaming lounge operations. The company downsized its slots gaming and
  restaurant operations at Acropolis May Pen, which is located in Bargain Village Plaza. As a result of the rationalization exercise, the gaming lounge will be
  re-aligned to a smaller lounge operation and the restaurant operations will cease. Approximately 15 positions have been made redundant or the contracts
  of employees were not renewed. The rationalization of operations at Acropolis May Pen is aimed at improving efficiency in operations, thereby contributing
  more to the Group’s profitability. The company will also continue operations for lottery, financial services (Cambio & MoneyGram remittances) and sports
  betting from the Bargain Village location.
• Jamaica Money Market Brokers Limited traded at its 52-week high of $12.25.
• National Commercial Bank Jamaica Limited traded at its 52-week high of $29.00.