May 2016 Financial News

TTSE revenue increases to $28.3m

May 09, 2016

National Flour Mills Limited (NFM) was the top performer on the T&T Stock Exchange (TTSE) in 2015, up by 134.78 per cent to close the year at $2.70.

In second spot was National Commercial Bank Jamaica Limited (NCBJ) with 82.81 per cent as it gained $0.96 to close at $2.10, followed by Trinidad Cement Limited (TCL) which closed the year with a return of 59.60 per cent, up $1.49.

The TTSE’s Annual Report shows there was a significant increase in profitability with revenue of $28.3 million—up from $14 million in 2014—as a result of two major transactions.

One was the $2.32 billion listing of T&T NGL Limited, the TTSE’s first energy related listing, which attracted great interest from the investing public. The other major transaction consisted of fees garnered from a “put through” or transfer transaction related to a corporate restructuring of the holding of a listed entity.

TTSE CEO Michelle Persad said on the local markets the Composite Index and Cross-Listed Index increased by 0.99 per cent and 18.67 per cent to close 2015 at 1,162.30 and 49.51 respectively.

However, the All T&T Index declined by 1.75 per cent to close at 1,948.50. She said stock advances outpaced declines in the First Tier Market, with 17 stocks advancing, 11 declining and three trading firm. The Manufacturing II Sector Index was the top performer, increasing by 45.54 per cent, followed by the Energy Sector Index which ended its first calendar year with a 7.50 per cent return.

However, there were declines in the Non-Banking Finance Sector and Conglomerate Sector Indices by 1.94 per cent and 2.51 per cent respectively.

Persad said: “The value of shares traded on the First Tier rose 3.34 per cent in 2015 to $1.15 billion. Trading volume, however, was lower by 15.63 per cent at 78.16 million shares.

“Notwithstanding the decline in the All T&T Index, trading in the All T&T securities increased with shares traded as a percentage of total volumes traded increasing to 64.05 per cent compared to 37.36 per cent in 2014.”

Persad said TCL was the most traded security on the First Tier market with 13.81 million shares, followed by T&T NGL Limited with 12.33 million shares and JMMB Group Limited with 9.17 million shares.

“With respect to value of shares traded, NGL was the most heavily traded stock with a trading value of $296.23 million, followed by Republic Financial Holdings Limited (RFHL) with $151.52 million, and First Citizens Bank Limited with $122.11 million,” she said.

Source:
Trinidad Guardian
Monday May 9, 2016

http://www.guardian.co.tt/business/2016-05-09/ttse-revenue-increases-283m