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News : National Last Updated: Jan 8th, 2018 - 11:01:34


JSE stocks pick 2018
By Marston Gordon
Jan 1, 2018, 12:27

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2017 Review
The main market index bettered that of the junior market in 2017 and the average price appreciated by 52.29% and 28.84% respectively.

The outcome of our 2017 selection was:

Caribbean Cement (6.72)%
Cable & Wireless 66.67%
Key Insurance 30.00%
Pulse Investments 203.37% (1st place- main market)
Salada Foods 32.35%


2018 Picks
The markets did not generate the level of returns we saw in 2015 but like last year some of the best performers in 2016 were top performers again in 2017.

Cable & Wireless and Key Insurance have been replaced this year with Berger and JMMB.

Pulse has been on the list for four consecutive years, Caribbean Cement three, Salada two because they are still not fully priced.

There are no junior market companies in the selection this year as by and large they are mostly overvalued.


-BERGER
the year end has changed to December 31st from March 31st this year. Expect increased cost in the December quarter arising from the botched take-over offer but that should not deter owning the stock, the fundamentals are excellent and the company will profit from the boom in construction.


-CARIBBEAN CEMENT
although at a slower pace than projected, the accumulated losses should be cleared in FYE 2018; normalized earnings per share is approximately $1.00 per quarter.


-JMMB
established commercial bank in 2017. It trades at a discount compared to its peers. Main concern is the frequency and volume of insiders selling.


-PULSE INVESTMENTS
for the third consecutive year it has declared dividends and the payout has increased each year, with 2017 up 50% over 2015. The first phase of 19 guest rooms at Trafalgar Road will be available for rental in 2018, and although occupancy is projected at 66% significant cash spinoff is anticipated


-SALADA FOODS
normalized earnings per share for FYE 2017 is $1.20 and if sales through its new distribution partner continues in 2018 even at half the rate (24%) of 2017, profit will be phenomenal.


Source: Jamaica Stock Exchange

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