FIVE stocks on the Jamaica Stock Exchange (JSE) made double-digit returns in February alone following an orgy of results that increased market capitalisation to $568 billion.

Berger Paints, Kingston Wharves (KWL), Caribbean Cement (CCC) and Jamaica Money Market Brokers (JMMB) made returns ranging between 46 and 10 per cent. Whilst Ciboney a near dormant company doubled its price to six cents based on one trade of some 208,000 units on February 17.

Market capitalisation stood at $568 billion on Monday, up $4.5 billion a month earlier based, on JSE statistics analysed by the Business Observer. Market drivers were released financials and notices which investors favoured.

Berger Paints results were released in February which revealed a boost in Christmas sales.

Berger Paints’ net profit jumped 47 per cent quarter over quarter to $65 million which management described as “reasonably good”.

“The company experienced the traditional upswing in business over the Christmas season. It is felt that sales were also positively influenced by repairs necessitated by the water damage the result of the recent islandwide flooding by Tropical Storm Nicole,” stated Warren McDonald Regional managing director — Caribbean about the operations which also experienced increased efficiencies.

KWL’s stock price jumped 33 per cent in the month following its results. KWL announced plans in February to expand its cargo handling capacity in 2011 amidst the tripling of its net profit in the December quarter, on a bet it made on the trans-shipment business. Net profit for 2010 was $611.6 million compared to $155.1 million achieved for 2009. In its report to shareholders accompanying the December quarter financial statements, Kingston Wharves said it plans to “expand its stevedoring equipment with the acquisition of several pieces of equipment including one crane and tow stackers”.

“This, we feel, will positively impact our drive for increased productivity to allow us to better serve our existing business and grow with our customers as they expand the range of services that they offer,” said the report.

The company said the improved performance of the group for the year was largely attributable to the efforts of its terminal operations, which resulted in increased volume of cargo processed. In particular, the main areas of improvement were the volume of cars processed as a result of the establishment of the transshipment hub, and increase in the number of containers strip due to the new full container stripping business, which commenced in 2010. KWL commenced operations of the motor unit transshipment hub for Höegh Autoliners in January 2010.

Turning to CCC the company revealed greater losses for its quarterly results but its Trinidad parent announced plans to restructure the operations going forward. The stock jumped 11 per cent in February in an effort to recover the 34 per cent decline over the last 52 weeks. CCC recorded a near $1 billion loss for its third quarter ended September 30, 2010. It also announced that it planned to to expand to a South American country early next year.

A few days later, TCL announced that it would freeze the servicing of its TT$1.2 billion ($16.1 billion) debt which would allow it to restructure. The company hit by the economic downturn announced a five-point plan that involves a revised business plan, restructuring the company’s debt, establishing a creditor committee comprising large domestic and international institutional lenders; and hiring of an independent advisor to the committee to assess the cash generating capability.

JMMB’s stock price jumped 10.3 per cent in February following the 40 per cent jump in its quarterly profit ending December 2010 to $399.5 million year on year.

The company also this year launched a new Preference Share Offer in January 2011, which was designed to reward client loyalty, as well as provide the open market with “attractive” returns. The offer closed in January and was oversubscribed by 33 per cent, with total investments of J$2.76 billion.