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 #100

General Accident Insurance: Performs Well Above Average, Expectations in 2022 GENAC put in a gross premium performance, top line of J$ 15.11 billion for their year ended 2022.  Net profit of J$ 597 million with Earnings per Share of J$ 53 cents.  Comparatively to 2021, Earnings per Share, was + 112%. Huge! As we likeContinue reading “ItsMoneyMark Newsletter #100”

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 #74

The Lasco Companies: Where do we Go?  Mr. Market wants that Succession Plan. It is the numbers, it is the fundamentals, the strategy, but also the “people” and in the people comes the succession plan… We get this question a lot at ItsMoneyMark, “What is Lasco companies plan long-term or after the great, the legendContinue reading “ItsMoneyMark Newsletter #74”

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 #67

Is the Dow Jones heading to 25,000 Points, next stop? As we Touchdown at 30,000 Points & Below? 

Opportunities in the Slumping U.S. Markets

We got that brief feeling of “all was well”, the bit of sunshine before the storm, with the Dow Jones rebounding to 31.5k – 32k, even as high as 33k points, then “Boom”, came the fall, we wrote about this potentially happening recently at ItsMoneyMark, the Dow Jones at 30k???

ItsMoneyMark Newsletter #64

BoJ Rate Increase and Market Valuations 

The next policy interest rate decision is set for June 29, 2022, and it seems only headed in one direction with two (2) things happening, (a) the latest decision, effective May 20, 2022, raising the rate by 0.50% to 5.00%, and (b) the inflation rate April 2022, coming out at 11.8%. As a consumer, although this is the formal inflation rate, based on food prices, the gas pump, and the practical day to day, inflation practically just feels a bit higher, and more like 20% +. 

ItsMoneyMark Newsletter #60

Compressing Margins upcoming at Manufacturers/ Distributors, and Buy Recommendations of Stocks at 25x, 30x P/E?

The supply chain issue is coming across no longer as an issue but like a crisis, the more businesspersons we talk to, and viewing a few earnings reports to the JSE thus far that have been disappointing for Q1 whose businesses depend on logistics. If this issue, continues for a longer period, and/or escalates, one which we do not fully understand yet, what will be the impact on several listed JSE companies be? 

ItsMoneyMark Newsletter #53

We can add another sleeper to the mix without over-doing it… Sagicor Select Funds, Manufacturing & Distribution (JSE: SELECTMD). Although we think from our investment cultural perspective because we are unique, the SELECT listings need a “face” as Jamaican investors are having difficulty differentiating between unit trust, collective investment schemes, and these listed quasi-ETFs (exchange traded funds). We still tend to prefer and understand, a straightforward company, which is easy to understand, sells a product or service that we consume, etc. Like the adage, we tend to invest in what we clearly understand. This has not changed over time, and more than likely will not.