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News : National Last Updated: Jan 5th, 2023 - 11:41:40


JSE stocks pick 2023
By Marston Gordon
Jan 5, 2023, 11:31

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2022 Review
The main market index declined by 10.16% and junior market index advanced by 16.28%; the average price of the former declined by 0.37% and the latter rose by 25.29%. Our selection increased by an average of 29.1%.

The outcome of our 2022 selection was:

138 Student Living 15.74%
ICREATE 126.92%
Jetcon 12.90 %
KLE Group 11.17%
QWI Investments (21.35)%


2023 Picks
Over the past four years it has become increasingly difficult to identify five companies with the best chances of good performance, this year we have only been able to eke out four.


-138 STUDENT LIVING
Net book value on the audited 2022 accounts stand at $10.99 up marginally from $10.46 (restated) in 2021. The risk of collectability of accounts receivable from UWI Mona has receded and both the receivables and provison are down significantly. The company has declared an interim dividend of $0.13 to shareholders on record at January 6, 2023. A large shareholder who has been unloading the stock at bargain basement prices is almost fully disposed so we expect to see the price moving closer to book.


-AMG PACKAGING
The recovery continued at the top and bottom line at each quarter throughout the 2022 year; this trend bodes well for the stock price.


-CARIBBEAN CEMENT
The net profit in the first nine months of 2022 was almost the same as that of the full year 2021. After several years drought the company resumed payment of dividend in August 2022.


-JAMAICA PRODUCERS
JP signed an amalgamation agreement with Panjam Investment in November 2022 wherein they acquired 34.5% equity in the latter in exchange for 100% of the issued and outstanding shares of JP Global Holdings Ltd (with global interest in food & drink and logistics & infrastructure). With this JP has reduced its exposure to some line of business and gain in others, notably in insurance and banking through Panjam’s 30% interest in Sagicor Group Jamaica.



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Source: Jamaica Stock Exchange

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