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Remarkable financial performance for blue-chips amid quietness in the PEX

2013-10-31

Sahem Weekly Trading Report [27-31/10] 2013

The legal period granted by Palestine Stock Exchange PEX for the listed companies to disclose their 9M financial statements ended by the end of this October, whereby, this week was characterized with earnings announcements momentum on one hand and transactions scarcity on another hand. The financial results of blue-chips- that were distinguished- revived the PEX in terms of prices but without any significant changes in the liquidity indicators. It is worth mentioning that the PEX was influenced by the anticipations of the 9M financial statements disclosures for a long period of time, abandoning some pricing levels that were established earlier to become support levels that could protect from selling pressures. During the week, heavy weighted shares and shares with distinguished data had repositioned these levels, leaving the narrow range trading and gaining noticeably, supported by what was disclosed. 
In an unique disclosure and within the company’s strategic plan and as an extension to the first half of the year 2013’s financial statements, Palestine Development and Investment Company PADICO announced achieving net income attributable to the shareholders of the parent company of $21.84 million in 9M 2013; significantly up by 34.15% compared to the same period of 2012. This came as a result of the company’s investments and new projects that has been launched during the past 3 years and has begun to report positive returns during the last few months.  According to the company’s management, these disclosed results are a positive indicator for more profits and achievements, and also confirm the successful investment direction of the company. From the financial statements, the profitability indicators showed significant increases, supported by the increase in the consolidated revenues of 17.57% that resulted from the increase in operating revenues from PADICO’s subsidiaries by 20.05% in addition to the advance in PADICO’s share from the profits of its associates by 9.94%. Moreover, the external debt from loans and bonds decreased to $218.82 million in 9M 2013 compared to $225.29 million at the end of 2012.  
Palestine Telecommunications PALTEL maintained its growth trend by announcing achieving net income of JD68.56 million in 9M 2013; up by 9.53% compared to the same period of 2012. This came as a result of an increase in gross income by 5.96% supported by increasing the operating revenues in addition to a significant decrease in the cost of revenues, therefore resulting in enhancement in all of the company’s profitability margins. According to PALTEL’s management, the financial results prove the ability of PALTEL to continue its growth either in the Palestinian market or in its investment base to ensure feasible returns for its shareholders. Moreover and regarding the other leading companies, Bank of Palestine BOP disclosed achieving net income of $29.29 million in 9M 2013; slightly down by 1.56% than the same period of 2012. This slight decrease came due to an increase in tax expenses in addition to an increase in operating expenses that came in parallel to the continuous expansion of the bank. This came despite recording a significant increase in net interest and commissions of 18.34%.                                                                                                                                                                                                                               

 

 

 


 

 

 


 

2017-08-17
Medium liquidity with the end of the legal semi-annual disclosures’ period

2017-08-16
PADICO posts net income of $7.46 million in H1 2017

2017-08-16
PRICO realizes net loss of JD1.28 million in H1 2017

2017-08-16
WASSEL reports net income of 0.07 million in H1 2017

2017-08-16
JCC reports net income of JD0.27 million in H1 2017

2017-08-16
AZIZA reports net income of JD2.20 million in H1 2017

2017-08-16
PID realizes net loss of JD0.03 million in H1 2017

2017-08-16
PIIC records net income of JD3.33 million in H1 2017

2017-08-16
PIBC records net income of $1.97 million in H1 2017

2017-08-16
LADAEN realizes net loss of JD0.50 million in H1 2017

2017-08-15
NCI reports net income of $0.15 million in H1 2017

2017-08-15
PALAQAR reports net income of JD0.07 million in H1 2017

2017-08-15
JREI realizes net loss of $0.17 million in H1 2017

2017-08-15
TIC records net income of $1.33 million in H1 2017

2017-08-15
NSC reports net income of JD0.13 million in H1 2017

2017-08-15
ABRAJ posted net income of $0.18 million in H1 2017

2017-08-14
AQARIYA reports net income of JD0.42 million in H1 2017

2017-08-14
BOP posted net income of $24.72 million in H1 2017

2017-08-14
TRUST posted net income of $2.83 million in H1 2017

2017-08-14
PICO reports net income of $2.13 million in H1 2017

2017-08-14
GMC posted net income of JD0.60 million in H1 2017

2017-08-14
JPH posted net income of $0.76 million in H1 2017

2017-08-14
GUI records net income of $0.96 million in H1 2017

2017-08-14
BPC reports net income of $6.02 million in H1 2017

2017-08-14
TNB records net income of $5.36 million in H1 2017

2017-08-14
PEC reports net income of $5.25 million in H1 2017

2017-08-13
ELECTRODE records net income of JD0.09 in H1 2017

2017-08-13
AIB reports net income of $4.01 million in H1 2017

2017-08-13
NAPCO records net income of JD0.18 million in H1 2017

2017-08-13
APIC reports net income of $7.87 million in H1 2017

2017-08-10
Al-Quds Index increases amid the semi-annual financial data disclosures’ domination

2017-08-09
ARAB records net income of JD0.05 million in H1 2017

2017-08-09
ISBK reports net income of $6.37 million in H1 2017

2017-08-09
APC records net income of JD0.70 million in H1 2017

2017-08-09
MIC posts net income of $1.00 million in H1 2017

2017-08-07
UCI reports net income of $0.54 million in H1 2017

2017-08-07
VOIC posts net income of JD3.39 million in H1 2017

2017-08-07
PSE realizes net loss of $0.10 million in H1 2017

2017-08-07
QUDS reports net income of $6.13 million in H1 2017

2017-08-07
PALTEL records net income of JD33.06 million in H1 2017

2017-08-07
BJP records net income of JD0.59 million in H1 2017

2017-08-03
Executing several transactions raises the market's trading value this week

 

 

 
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