• Despite an 11.1% (or $57.08Mn) increase in revenues, CAC 2000 Ltd reported an unaudited net loss of $21.53Mn (EPS: -17¢) for the six months ended June 30, 2020. This represents a seven-fold decline when compared to the $3.07Mn (EPS: 2¢) made in the same period last year.
• This performance was mainly driven by a 96.1% (or $45.28Mn) drop in other income and a 4.9% (or $10.10Mn) increase in administrative.
• The stock price has fallen 39.3% since the start of the calendar year and closed at $9.10 on Wednesday. At this price, the stock currently trades at a P/B of 3.40x, which is above the Junior Market Distribution Sector Average of 3.18x.

 (Source: CAC Financials)

• Mayberry Investment Limited (MIL) reported a net loss attributable to shareholders of $962.01Mn (EPS: -$0.80) for the six months ending June 30, 2020, which represents an almost nine-fold decline from the $107.03Mn (EPS: $0.09) profit reported for the corresponding period in 2019.
• Unrealised losses on investment revaluation of $1.19Bn were the primary contributing factor to the sharp decline in the company’s bottom line.
• The stock has declined 34.6% since the start of the year, and closed trading at $5.89 on Thursday July 23,2020. The stock currently trades at a P/B of 0.75x which is below the Main Market Financial sector average of 1.78x.

(Source: MIL Financials)

• Minister of State in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. Floyd Green, says the National Compliance Regulatory Authority and the Consumer Affairs Commission will be increasing visits to supermarkets and to other entities within the distributive trade, to ensure that prices for goods are stable.
• “We are and will continue to monitor trade. We have a taskforce here and we will continue to keep track of the situation and increase our visits to supermarkets. We are going to pay keen attention to prices,” he said.
• “Right now, oil prices are falling, which we anticipate will have a positive impact on most of our companies and retailers in terms of pricing. Pricing has to be balanced. We will be keeping a check on what is happening and we will be providing regular updates to the country,” the State Minister said.
• “The Government, as well as members of the private sector, are taking the potential impact of COVID-19 seriously and are putting the necessary measures in place to protect the country’s food supplies,” he added. Emphasis will be placed on the priority sectors of manufacturing and agriculture/agribusiness as well as the emerging industries of medical cannabis, hemp and bamboo.

(Source: JIS)