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Al-Quds index declines amid variation in financial performance

2015-10-29

Weekly Trading Report [25-29/10/ [2015

Following the new resistance levels and some movements to overcome the gains recorded by some stocks, Al-Quds Index couldn’t further increase in this week, in conjunction with the variation in the disclosed financial data. The index lost several points; 1.03% down compared to the previous week. In terms of liquidity, the trading movement relatively slowed parallel to the disclosures anticipation especially for the leading companies, in addition to the general anticipation for the situation in the Palestinian Territories and its association to the political horizon that dominates scarceness in liquidity. However, the financial data disclosures accelerated this week with the approaching end of the legal period granted by law for these disclosures.

In terms of financial data, Palestine Telecommunications PALTEL – the largest company by market capitalization- reported a net income of JD63.93 in 9M 2015; down by 1.97% compared to 9M 2014. The decline came within a drop in the company’s revenues through the continuous negative impact of the change in the currency exchange rate. Also, the company was affected by the decline in investment gains due to a drop of dividends pay-out and stocks’ prices. While, recording other non-operating revenues have relatively rebalanced the income statement. On the other hand, Wataniya Palestine Mobile Telecommunication Company WATANIYA noted realizing net loss of $8.33 million in 9M 2015; to decrease its loss by 21.88% compared to the corresponding period of 2014. This followed recording similar gross margins in the two periods parallel to lowering depreciation and amortization expenses. In the disclosures too, the financial data of the Arab Palestinian Investment Company APIC noted posting net income attributable to the shareholders’ of the parent company of $5.06 million in the first nine months of 2015, compare to net income of $7.10 million in the corresponding period of 2014; down by 28.67%. This came due to a decrease in both the operational profit and non-operating income.

In terms of the distinguished banking data, the National Bank TNB announced recording net income of $4.33 million; up by 18.41% than the same period of 2014. This growth followed the increase in net interest and commissions’ income in addition to an increase in the foreign currency exchange revenues. On another hand, Palestine Islamic Bank ISBK disclosed reporting net income of $7.66 million in 9M 2015; up by 46.39% than the corresponding period of 2014. This was also attributable to the increase in the bank’s stake from financing and investment income, in addition to significantly recording unnecessary taxes provisions’ recovery. In anticipation to the financial data of the leading companies and Palestine Development and Investment Company PADICO, Palestine Industrial Investment Company PIIC- the investment arm of PADICO in the industry sector, disclosed posting net income attributable to the shareholders of the parent company of JD3.00 million; up by 2.61% than the corresponding period of 2014 due to a significant increase in sales. Moreover, Palestine Real Estate Investment Company PRICO – the investment arm of PADICO in the real estate sector- noted recording net income attributable to the shareholders of the parent company of JD1.94 million in 9M 2015 compared to net loss in the corresponding period of 2014. This followed a sharp increase in the operating revenues due to the revenues recorded from selling properties.

 


 

2017-11-16
Al-Quds Index in the red zone amid lack of drivers

2017-11-12
Bank of Palestine opens a representative office in Chile

2017-11-09
The PEX records average PE ratio of 12.2x in 9M 2017

2017-11-08
GUI posts net income of $0.80 million in 9M 2017

2017-11-08
AIG reports net income of $1.21 million in 9M 2017

2017-11-02
A decline in Al-Quds Index with the end of the disclosures’ legal period

2017-11-01
RSR records net income of JD0.43 million in 9M 2017

2017-11-01
NSC posts net income of JD0.24 million in 9M 2017

2017-11-01
TIC records net income of $1.79 million in 9M 2017

2017-11-01
PICO reports net income of $2.16 million in 9M 2017

2017-11-01
AQARIYA records net income of JD0.40 million in 9M 2017

2017-11-01
PRICO realizes net loss of JD3.97 million in 9M 2017

2017-11-01
TRUST reports net income of $3.40 million in 9M 2017

2017-11-01
MIC posts income of $1.01 million in 9M 2017

2017-11-01
PADICO posts net income of $11.95 million in 9M 2017

2017-11-01
BOP records net income of $38.54 million in 9M 2017

2017-11-01
WASSEL records net income of $0.02 million in 9M 2017

2017-11-01
AIB reports net income of $5.83 million in 9M 2017

2017-11-01
NIC posts net income of $4.04 million in 9M 2017

2017-11-01
JPH reports net income of $1.91 million in 9M 2017

2017-11-01
JREI realizes net loss of $0.22 million in 9M 2017

2017-11-01
AHC realizes net loss of JD1.10 million in 9M 2017

2017-11-01
ELECTRODE posts net income of JD0.05 million in 9M 2017

2017-11-01
PID posts net income of JD 0.01 million in 9M 2017

 

 

 
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