|Last Updated: Jan 25th, 2024 - 19:50:47
In 2023 the Jamaica Stock Exchange (JSE) main and junior market indices declined by 8.48% and 3.46% respectively; the average price on both markets declined by 6.27% and 4.37% also. Our selection decreased by an average price of 5.6%.
The outcome of our 2023 selection was:
138 Student Living (22.20)%
AMG Packaging 4.14%
Caribbean Cement ( 4.66)%
Jamaica Producers 0.23%
With better prospects for the economy in 2024 we reverted to identify five companies with the best chances of good performance.
After a five year hiatus, dividend payment resumed in December 2023. The cash position of the company is very strong and while the top line growth is flat its bottom line is up significantly due to manufacturing efficiencies. Future expansion is in train and will propel top and bottom line numbers.
A solid company with huge potential, it needs to focus on the core business of transportation and expand it. Hoping management will get their act together and deploy the short term investments to pay out notes and bonds thereby shaving interest costs and use remaining funds to acquire more buses. Stock is fully priced but could double with a change in focus.
Strong post COVID recovery plus new revenue streams identified could drive the stock price to new heights.
Another company well placed to benefit from post COVID recovery. Guided by the Q1 2024 earnings, itís evident that the recovery continues. With the strike in Hollywood over, completed movies that were not released in 2023 are coming into theatres now. Palace is introducing 4DX technology initially at Carib 5 cinema by March 2024; this experience will intrude into Netflix space.
The acquisition of A.S. Bryden Group in June 2022 continues to positively impact revenue and profit. On completion of the integration duplicated expenses will be eliminated and profit enhanced. Management is top notched.
Source: Jamaica Stock Exchange
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