February Traffic Report

Sangster International Airport (SIA) is reporting a 50 per cent year-over-year growth from 274,700 terminal passengers to 410,700 terminal passengers for February. This performance is below the February 2020 figures of 426,700 passengers. Norman Manley International Airport (NMIA) recorded a 43 per cent increase in air traffic from 78,400 passengers to 112,100 passengers for February, but below the 122,600 passengers for February 2020. SIA’s year-to-date traffic of 859,600 passengers is 59 per cent higher than the 542,300 passengers in January – February 2022, while NMIA had a 52 per cent increase in year-to-date traffic of 258,100 passengers.

February Performance

Palace Amusement (1921) Company Limited was the best-performing stock in February as it rose by 80 per cent from $4.29 to $7.74. MFS Capital Partners Limited, Sygnus Credit Investments Limited USD (JMD shares), Regency Petroleum Limited (RPL), Consolidated Bakeries (Jamaica) Limited (Purity), Productive Business Solutions Limited, Cargo Handlers Limited (CHL), and Jamaica Broilers Group Limited were the best-performing stocks in February.

Margaritaville (Turks) Limited (JMD shares) was the worst-performing stock in February as it declined by 28 per cent from $22.95 to $16.44. Blue Power Group Limited, Lasco Financial Services Limited (LASF), ISP Finance Services Limited, Sagicor Select Funds Limited – Manufacturing and Distribution, AMG Packaging and Paper Company Limited, Caribbean Cream Limited, and Margaritaville (Turks) Limited (USD shares) were the other worst-performing stocks in February.

Palace Amusement (1921) Company Limited is the best-performing stock year-to-date as it remains up 214 per cent from $2.46 to $7.74. Purity, RPL, Knutsford Express Services Limited, MFS Capital Partners Limited, Main Event Entertainment Group Limited, Sygnus Credit Investments Limited USD (JMD shares), and CHL are the other stocks showing good year-to-date performances.

Blue Power Group Limited is the worst-performing stock so far in 2023, with the stock down from $3.06 to $2.15 at the end of February. Sygnus Credit Investments Limited JMD (USD shares), Radio Jamaica Limited, FirstRock Real Estate Investments Limited (USD shares), Sygnus Real Estate Finance Limited (USD shares), LASF, FosRich Company Limited, and AMG are the other stocks showing big declines year-to-date.

Market Sales & Events

A director of Wisynco Group Limited sold 2,000,000 shares for a consideration of $33.70 million on February 21. A director of Jamaican Teas Limited sold 116,850 shares between February 20 to 23. The trustee of the SLJ (Sagicor Life Jamaica) employee share purchase plan sold 7,000 shares of Sagicor Group Jamaica Limited on February 23.

Executive & Director Changes

An executive of Sagicor Group Jamaica Limited sold 49 shares on March 7. A connected party of Mayberry Jamaican Equities Limited purchased one million shares a $11.50 for a consideration of $11.50 million on March 28. A connected party of JMMB Group Limited sold two million shares to another connected party at $30.20 for a consideration of $60.4 million on March 31. Cecil and Marion Foster purchased 13,958,200 shares of FosRich Company Limited between $2.63 to $2.65 for $37.50 million on March 30.

Peter Thompson has been promoted to the role of group chief client investment officer for JMMB Group Limited effective April 1.

ISP Finance Limited, Caribbean Cement Company Limited, Dolphin Cove Limited, Seprod Limited, Spur Tree Spices Jamaica Limited, Productive Business Solutions Limited and VM Investments Limited 2022 audited financials have been delayed. They should be published between April 17 and May 15.

The Caribbean Information and Credit Rating Services Limited (Caricris) has reaffirmed the ‘good'(CariA) credit rating of General Accident Insurance Company Jamaica Limited and Sagicor Group Jamaica Limited. It has also reaffirmed PBS Technologies (Trinidad) Limited Limited’s ‘high’ (CariAA) rating and the ‘highest’ (CariAAA) rating for Sagicor Life Jamaica Limited.

– By David Rose