All indicators positive for Jamaica Stock Exchange in 2018

Annual general meeting told some deliverables to migrate to the new NASDAQ trading platform

BY OBSERVER
BUSINESS WRITER

Sunday, June 23, 2019

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THE Jamaica Stock Exchange (JSE), which has received worldwide plaudits on its recent performance, is communicating that all its indicators increased in 2018.

Managing director of the JSE, Marlene Street Forrest, in her report to shareholders at the JSE's annual general meeting (AGM) held on Thursday last in Kingston, shared the details of the entity's continued good performance.

“The cess revenue increased by 73.1%, net profit increased by 192.4 million or 86.9%, earnings per share moved from 0.31 cents to 0.59 cents — a 90.3% increase, and the JSE stock price had a 46.6% increase, moving from $7.00 in 2017 to $10.26 in 2018.

“The stock exchange is expecting to see another stellar performance in 2019, and all the indicators are pointing in that direction.

“Some of the deliverables for 2019 will be to migrate to the new NASDAQ trading platform, upgrading of technology, the launch of a digital asset platform, and the launch of corporate governance index,” Street Forrest told shareholders present at the AGM.

Chairman of the JSE, Ian McNaughton, in giving his report on the financial performance of the JSE, stated that the organisation was once again accorded by Bloomberg as the best-performing exchange in the world (2018). The chairman stated that 2018 was another successful year for the JSE.

At a special board meeting immediately after the AGM, McNaughton was returned as the chairman of the exchange and Livingstone Morrison was elected as the new deputy chairman.

Morrison recently retired from the Bank of Jamaica where he served as a Deputy Governor.


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