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An acceleration in the quarterly disclosures’ pace amid cohesion in the PEX

2015-04-30

Sahem Wekkly Trading Report (26-29)-04-2015

Amid a four-trading sessions’ week in Palestine Stock Exchange PEX, Al-Quds Index continued its coherent performance that is leaning to slightly rise or decline, amid medium liquidity controlled by one of the leading stocks every time. During the week, the heavy weighted stocks traded in a narrow price range; while, the widening in the price movements and achieving significant gains for the lower-weighted stocks in the Index led Al-Quds Index to continuously close in the relative stability zone. Within the liquidity indicators, the leading companies that are holding their general assembly GA meetings exchange roles in topping the PEX’s trading value when their stocks enter the routine period of trading between the pre-entitlement and ex-dividends.

Regarding the leading companies’ disclosures at the end of the week, Palestine Telecommunications Company PALTEL noted posting net income after tax of JD22.22 in Q1 2015; down by 14.45% than Q1 2014. This decline was attributable to a decrease in both of operating revenues due to the currency exchange fluctuations and the investments profits following the decline in the cash dividends distribution for some of PALTEL’s investments in addition to a decline in the prices of some stocks in the PEX. Based on the disclosed financial data and after the approval to distribute 45% cash dividends for the year 2014, PALTEL recorded a book value of JD3.62 and P/BV ratio of 1.44x.

Moreover, Palestine Development and Investment Company PADICO noted posting a decline in its net income attributable to the shareholders of the parent company by 19.81%, when reached $5.78 million in Q1 2015. This followed the variation in the profitability of subsidiaries and affiliates, whereby, the investment arm of PADICO in the real estate sector achieved an increase in its net income due to an increase in the sales of Al-Ghadir Residential project. On the other hand, a witnessing decline in both PADICO’s arm in the industry sector which reported a lower income due to a decline in the poultry products prices and the investment arm of PAIDCO in the tourism sector giving its sensitivity to the political and economic issues. Whereby PADICO recorded a BV of $1.75 and P/BV of 0.73x. It is worth mentioning that the company hasn’t distributed the recommended cash dividends yet, whereby, the general assembly of the company will be holding a meeting on 18/05/2015 to discuss the recommendation of distributing 5% cash dividends for the year 2014, a dividend yield of 3.94%.

At the end of the previous week, Bank of Palestine BOP held its GA meeting and approved distributing 12% cash dividends and 9.375% stocks dividends, to raise the bank’s paid-up capital to $175 million. Moreover, BOP disclosed its Q1 2015 financial data, noting recording net income after tax of $9.99 million; up by 4.46% than the corresponding period of 2014. This was attributable to an increase in gross profits that dominated the growth in operating expenses and impairment provision of direct credit facilities. On the other hand, the Arab Palestinian Investment Company APIC disclosed posting net income attributable to the shareholders of the parent company of $1.79 million; down by 24.62% due to a decrease in net sales and recording a slight non-operating loss. According to the data, APIC records a BV of $1.32 and P/BV of 0.83x. It is worth mentioning that the BV doesn’t include the approved decision of distributing dividends for the year 2014 that includes distributing 7.5% cash dividends, to record dividends yield of 6.88%.

 


 

2018-02-22
The PEX records average PE of 13.8x and average P/BV of 1.23x

2018-02-21
NSC posts net income of JD0.37 million at the end of 2017

2018-02-21
UCI records net income of $0.68 million at the end of 2017

2018-02-21
TIC proposes 10% cash dividends for the year 2017

2018-02-19
APC reports net income of JD1.20 million at the end of 2017

2018-02-19
PIBC reports net income of $3.91 million at the end of 2017

2018-02-19
PID realizes net loss of JD0.01 million at the end of 2017

2018-02-19
PRICO realizes net loss of JD13.49 million at the end of 2017

2018-02-19
RSR reports net income of JD0.48 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
JCC posts net income of JD0.51 million at the end of 2017

2018-02-19
ABRAJ records net income of $2.25 million at the end of 2017

2018-02-18
WASSEL posts net income of 0.06 million at the end of 2017

2018-02-18
SANAD records net income of $10.05 million at the end of 2017

2018-02-18
BPC records net income of $10.28 million at the end of 2017

2018-02-18
PADICO posts net income of $5.68 million at the end of 2017

2018-02-18
WATANIYA realizes net losses of $6.64 million at the end of 2017

2018-02-18
NCI posts net income of $0.16 million at the end of 2017

2018-02-18
AHC realizes net losses of JD1.52 million at the end of 2017

2018-02-18
AIB posts net income of $6.40 million at the end of 2017

2018-02-18
JPH records net income of $6.18 million at the end of 2017

2018-02-18
AIG posts net income of $3.12 million at the end of 2017

2018-02-18
JREI posts net income of $0.01 million at the end of 2017

2018-02-18
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

2018-02-15
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

2018-02-15
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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