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PALTEL’s net income up 12% in Q1 2014

2014-04-30

Sahem Weekly Trading Report [27-30/04/2014[

Al-Quds Index significantly declined during the week, to record losses of 5.39% at the end of April 2014. This came within weak and scarce trading compared to the performance in Q1 2014. The market status was characterized with solidness and anticipation increasing in the few previous weeks as a result of the blurry political solidness situation on one hand  and the routinely quarterly financial statement disclosures period and holding the general assembly GA meeting period on another hand that lead to weaker investors’ investment position movements.   Concerning the investors’ expectancy, a growing anticipation appeared regarding the financial results disclosure of the leading companies with the highest market capitalization, turnover and weights in Al-Quds Index. Moreover, this four session week ended with the financial results disclosure of Palestine Telecommunications Company PALTEL- the largest PEX Company in terms of market capitalization-, noting an increase of 11.93% in net income in Q1 2014 compared to the same period of 2013 when recorded net income of JD25.97 million and Earnings per share EPS of JD0.197. This increase came after a growth of 7.93% in gross profits, to record gross margin of 83.23% in the first three months of 2014 compared to gross margin of 78.46% in Q1 2013 as a result of an enlargement in operating revenues and a decrease on direct related costs. In terms of the operational performance, the operating margin increased from 29.64% to 31.02% in Q1 2014. While, the soar of 50.65% in the investment revenues and recording an effective tax rate  of 11.83% in Q1 2014 compared to 20.21% in Q1 2013 led to an increase in net margin to 28.90%; up by 10%.

Regarding the leading companies, Bank of Palestine BOP- the largest bank by market capitalization- disclosed recording net income before tax  of $12.54 million in Q1 2014; down by 12.66% than the corresponding period of 2013. This decrease came after recording direct credit facilities provision of $1.80 million, in addition to a significant decline in foreign exchange revenues despite an increase in net interest and commission of 6.63% in parallel to recording credit facilities of $1.15 billion at the end of March 2014. On the other hand, the GA of the bank approved, on its meeting on 25/04/2014, distributing 8.33% cash dividends and 6.66% stock dividends for the year 2014, to increase the paid up capital to $160 million.

With the increase in the financial statements disclosures pace coinciding with holding the GA meetings in the last few days of April 2014, the dividends distributions were characterised with feasibility to investors, while actually, some dividends distributions percentages were higher than the percentages distributed in the previous year as a result of an enhancement in net profits recorded in 2013. During this week, the GA of Nablus Surgical Center NSC approved distributing 15% cash dividends, to record dividends yield of 12.93%. Moreover, the GA of The Vegetable Oil Industries Company VOIC approved 50% cash dividends distribution, to record dividends yield of 6.49% according to the price recorded before distribution. In the industry sector, the GA of Birzeit Pharmaceuticals Company BPC approved distributing 15% cash dividends, to record dividends yield of 4.76%. On the other hand, the GA of The Arab Palestinian Investment Company APIC approved distributing stock dividends of 9,990,602 stocks (19.98% from paid up capital) to raise the paid up capital to $60 million. 

 

 

 


 

2018-02-22
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UCI records net income of $0.68 million at the end of 2017

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TIC proposes 10% cash dividends for the year 2017

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APC reports net income of JD1.20 million at the end of 2017

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PIBC reports net income of $3.91 million at the end of 2017

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PID realizes net loss of JD0.01 million at the end of 2017

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PRICO realizes net loss of JD13.49 million at the end of 2017

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RSR reports net income of JD0.48 million at the end of 2017

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NIC posts net income of $7.70 million at the end of 2017

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NIC posts net income of $7.70 million at the end of 2017

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JCC posts net income of JD0.51 million at the end of 2017

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ABRAJ records net income of $2.25 million at the end of 2017

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WASSEL posts net income of 0.06 million at the end of 2017

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SANAD records net income of $10.05 million at the end of 2017

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BPC records net income of $10.28 million at the end of 2017

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PADICO posts net income of $5.68 million at the end of 2017

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WATANIYA realizes net losses of $6.64 million at the end of 2017

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NCI posts net income of $0.16 million at the end of 2017

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AHC realizes net losses of JD1.52 million at the end of 2017

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AIB posts net income of $6.40 million at the end of 2017

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JPH records net income of $6.18 million at the end of 2017

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AIG posts net income of $3.12 million at the end of 2017

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JREI posts net income of $0.01 million at the end of 2017

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MIC posts net income of $3.26 million at the end of 2017

2018-02-18
LADAEN records net losses of JD0.05 million at the end of 2017

2018-02-18
PIIC records net income of JD5.50 million at the end of 2017

2018-02-18
AZIZA posts net income of JD3.18 million at the end of 2017

2018-02-18
APC proposes 50% cash dividends for the year 2017

2018-02-18
PALTEL recommends 40% cash dividends for the year 2017

2018-02-18
GUI proposes 20% stocks dividends and 10% cash dividends for the year 2017

2018-02-18
NIC proposes 25% stocks dividends and 25% cash dividends for the year 2017

2018-02-18
ELECTROODE proposes 12% cash dividends for the year 2017

2018-02-18
NAPCO proposes 5% cash dividends for the year 2017

2018-02-18
BOP proposes 13.5% cash dividends for the year 2017

2018-02-18
TRUST proposes 50% stocks dividends and 20% cash dividends for the year 2017

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

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PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

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PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
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