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ItsMoneyMark Newsletter #104

FosRich Company Limited: 1st Quarter Earnings Head Lower by 23%

FosRich Company had a surprising downward quarter, for Q1, for the period ending March 31, 2023.

The Company did register higher revenues, but they were not enough to offset, higher “cost of sales” and “admin & selling expenses” for Q1 2023. FosRich’s turnover registered was J$ 1.083 billion versus J$ 900 million, year over year, an increase of 20%. However, “cost of sales” ramped up to J$ 637.8 million from J$ 512.7 million, and the other major expense line item, “admin & selling expenses” increased to J$ 260.2 million from J$ 195.1 million.

ItsMoneyMark Newsletter #83

NCB Financial Group: Hits J$ 80.41, bounces back to J$ 85, Sweetheart Deal?

NCB Financial Group Limited (JSE: NCB FG) has two (2) important dates coming up. NCB FG has advised the JSE – Jamaica Stock Exchange, that they have their, Board of Directors meeting and their 4th quarter investors’ briefing, respectively, to hit the market on, November 10, 2022, and November 11, 2022.

We are excited about this at ItsMoneyMark and so too is Mr. Market, as the last quarter that NCB FG put out what stellar, it was incredible, that was their 3rd quarter, and of course, analysts, brokerages, want to see if NCB FG, will continue this earnings momentum & growth. That is the key.

ItsMoneyMark Newsletter #81

DOLLA Financial, Upsizes Bond, to JMD$ 1.5 billion
Loan Book could easily hit JMD$ 3.0 billion Soon

DOLLA, DOLLA, DOLLA continues to blaze its trail, with the recent hiring effective October 3, 2022, of Ms. Deveta McLaren, effective October 3, 2022, earlier this week, as Chief Strategy Officer (“CSO”). Anyone who tells you, this is not a blow to Access Financial Services (JSE: AFS), would be like someone telling you in the supermarket, the Dow Jones Industrial Average (US: DJIA) is always gonna go up, or Markets will always go up… Like yea, never listen to that type of person, as the financial adage goes.

ItsMoneyMark Newsletter #73

Supreme Ventures Limited: Doing Deals, and Moving like a Hedge Fund Could be cheap even at 28x P/E Do not always focus on the P/E ratio, but always remember, observe, and compare it to the growth rate, before you say, that share price, company is expensive or over-priced. Although, admittedly, Supreme Ventures Limited (JSE: SVL)Continue reading “ItsMoneyMark Newsletter #73”

ItsMoneyMark Newsletter #72

Access Financial Services Limited, and Dolla Financial Services Limited

Rumble in the Bronx

Leading microfinance firm, Access Financial Services (JSE: AFS) is in the market currently for up to J$ 2 billion corporate note/ bond, priced at 11% interest rate. It is unsecured with a 5-year tenor, and the arranger is PROVEN Wealth Limited. As of late, AFS has even been doing timely radio ads as well. The fundraise makes sense for both parties, as AFS’s loan book has been around J$ 4.0 – J$ 4.5 billion for quite a while now. Most micro-financiers fund their growth via debt, loan payables, corporate bonds, and so forth, and notably PROVEN Investment Limited is a top shareholder in AFS, at just under 25%.