• For the three months ended March 31, 2019, Mayberry Investments Limited reported a net loss of $196.7Mn (EPS: -$0.13) which represents a significant fall off (-182%) from the $239.4Mn (EPS: $0.20) reported a year prior.
• The deterioration in performance is partly attributable to an increase in operating expenses (+25%) as well as net trading losses of $47.9Mn relative to net trading gains reported in 2018 of $209.9Mn. Fees and commission income also declined by 50.4% to $104.8Mn relative to the $211.4Mn recorded in the corresponding period of 2018.
• The stock has fallen 4.06% since the start of the calendar year and closed at $8.75 yesterday. It currently trades at a P/B of 0.57x earnings which is below the Main Market Financial sector average of 1.73x.

 (Source: Mayberry Financials)

• Wisynco reported an unaudited net profit of $2.2Bn (EPS: $0.60) for the nine-month period ending March 31, 2019, which represents a 28.9% increase relative to the $1.7Bn (EPS: $0.48) reported in 2018. 
• The improvement in performance was partly attributable to a 15.4% increase in revenues, up from $18.1Bn the prior year to $20.8Bn this year. Additionally, there was an increase (+25.3%) in finance income, which finished the period at $63.4Mn.
• The stock has risen 27.51% since the start of the calendar year and closed at $13.95 yesterday. It currently trades at a P/E of 18.85x earnings which is slightly above the Main Market Manufacturing & Distribution sector average of 18.27x.

 (Source: Wisynco Financials)

• As of today, pensioners and other holders of Government paper will start getting monthly payments as Government seeks to reduce its national debt.
• The Minister explained the payments are a follow on to lump-sum payments made last year and that the action was in keeping with what the ministry had promised in the mini-Budget of June last year.
• Minister of Finance, Ryan Straughn explained: “The debt of the country is one of those areas where you have to be constantly addressing in order to keep the economy stable. These commitments I believe will provide greater levels of stability. We will be well on our way to reducing the debt to GDP to 60% over the next 14 years.”

 (Source: Barbados Today)

• Inflation will moderate over Fitch’s 10-year forecast period, as a surge in 2018 fades on more modest economic growth. 
• However, Aruba is unlikely to return to the deflationary conditions seen from 2015 to 2017, as stronger tourist arrivals and potentially investment at the country's oil refinery stimulate domestic demand.
• The Central Bank van Aruba is likely to maintain its currency peg to the US dollar, anchoring imported inflationary pressures, tamping down headline price growth. 

(Source: Fitch Solutions)

• Yesterday’s Fed decision and press conference from Chair Jerome Powell pushed back against increasing speculation the bank’s next rate move could be a cut.
• The one thing that remains clear is that U.S. monetary policymakers are happy to do nothing at all right now, as they view the current stance as “appropriate.”
• There will be excitement, however, if there’s any evidence of a brewing hawkish tilt in the minutes. Investors are more likely to concentrate on tomorrow’s payrolls report and amuse themselves with corporate earnings in the meantime.

(Source: Bloomberg)

• The Bank of England signaled that it’s in no rush to raise interest rates despite stronger economic growth, as policymakers stayed united on the need to keep borrowing costs on hold for now.
• In an upbeat set of forecasts, Governor Mark Carney and his colleagues upgraded their expectations for growth, saying unemployment will fall further and the economy will generate more excess demand than previously predicted.
• Yet the Monetary Policy Committee cut its inflation outlook. Investors predict only one more quarter-point hike between now and 2021.

(Source: Bloomberg)

• For the three months ended March 31, 2019, Caribbean Cement Company reported an unaudited net profit of $1.1Bn (EPS: $1.33) which represents a 237.4% increase relative to the $334Mn (EPS: $0.39) recorded in the corresponding period of 2018.
• Contributing to the improved performance was an increase in revenues which grew by 2.4%.
• Moreover, increased operational efficiencies have resulted in reductions in costs in key areas such as repairs and maintenance and equipment hire. Additionally, the termination of the lease with Trinidad Cement Company concluded in April 2018 with the acquisition of Kiln 5 and Cement Mill 5, further contributed to the reduction of costs.
• The stock has risen 69.86% since the start of the calendar year. The stock closed at $72.02 yesterday and currently trades at a P/E of 18.76x earnings which is below the Main Market Industrial & Material sector average of 32.54x.

 (Source: CCC Financials)

• Fitch Solutions has highlighted that its expectation is for economic growth in Jamaica to accelerate in the coming quarters as economic reforms pay dividends and accommodative monetary policy supports credit growth. 
• The mining sector is anticipated to be a key engine of growth as alumina and bauxite facilities ramp up production, supporting Fitch’s forecast for real GDP growth to accelerate to 2.1% in 2019, up from 1.9% in 2018.
• However, despite improvements, Fitch still expects that structural weaknesses will limit real GDP growth over the coming decade.

(Source: Fitch)

• The Statistical Institute of Belize released their Consumer Price Index (CPI) report for the month of March 2019, which highlighted notable differences in the prices of some consumer goods in comparison to March of 2018.
• The average price of goods in the categories Food and Non-Alcoholic Beverages, Transport and All Other Goods and Services all recorded increases of 0.3%, 0.4%, and 0.7% respectively.
• The sole category of consumer goods which underwent a price decrease was that of Housing, Water, Electricity, Gas and Other Fuels, with prices declining by 0.4%.
• Overall, the CPI has indicated that the average Belizean household has experienced a 0.3% price increase of regularly purchased goods and services as of March 2019 in comparison to March 2018.

(Source: Statistical Institute of Belize)

• According to Fitch, Guatemala will see strong real GDP growth in 2019 as low inflation, credit growth and robust remittance inflows support private consumption.
• However, Guatemalan economic growth will face headwinds from political uncertainty surrounding the 2019 presidential election, weak investment and rising energy prices.
• Fitch Solutions forecast that economic activity will accelerate to 3.3% YoY in 2019 and 3.5% in 2020, from 3.1% in 2018.

(Source: Fitch)