Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Modest transactions amid acceleration in financial disclosures

2016-10-27

Sahem Weekly Trading Report (23-27)-10-2016

With the approaching end of the legal period granted to the listed companies to disclose their 9M 2016 financial data, Al-Quds Index traded this week in a range that didn’t exceed 3 points. This price trend followed the semi-horizontal performance of the companies with high weights in the Index. On the other hand, the slow movement paralleled with a modest liquidity; mostly were institutional transfer and some new investment positions amid an increase in the financial data disclosure anticipation. The legal period ends with the end of October 2016, while the disclosures haven’t exceeded 50% out of 48 companies with the end of business week, whereby, the next week is expected to witness disclosures’ momentum that include some of the blue-chips and high turnover companies. In all cases, the expected 9M financial data will build more on what has been established by many of the Palestine Stock Exchange PEX’s constituents’ components.  

The banking sector’s disclosures are the most noticeable in this period given the rapid growth and development. This week and with a unique disclosure, the National Bank TNB announced an increase in its net income by 31.75% in 9M 2016, to reach $5.70 million. This increase followed a significant growth of 30.80% in net interests and commissions income in addition to a noticeable increase in the financial assets gains. This income was parallel to the credit facilities portfolio growing to $513.93 million which is a part of the total assets worth of $935.74 million. According to the financial data, TNB records EPS of $0.076 and ROE of 6.27% for 9M 2016. TNB also records BV of $1.21 as of the end of September 2016 and P/BV of 1.29x. In the banking sector, Palestine Investment Bank PIBC posted an increase of 43.36% in its net income to reach $2.35 million in 9M 2016 following the increase in net interests and commissions income. Moreover, the net income of the Arab Islamic Bank AIB also increased by 16.69% to hit $4.73 million as a result of an increase in the bank’s stake from the financing and investment income.

From the disclosures that drag the attention prior to the disclosure of the blue-chip “PADICO Holding”, are its subsidiaries and affiliates’. This week, Palestine Telecommunications PALTEL noted a net income of JD63.07 million in 9M 2016; down by 1.34% than the corresponding period of 2015. This decrease followed a slight decline in the operating income by 0.62%, in addition to an increase in the company’s stake from its affiliates’ net loss which its effect was reduced with the increase of cash dividends of the company’s investments portfolio. Accordingly, PALTEL records BV of JD4.08 and P/BV of 1.25x. Moreover, Palestine Industrial Investment Company PIIC – the investment arm of PADICO Holding in the industry sector- noted recording net income attributable to the shareholders of the parent company of JD3.81 million; up by 27.03% than 9M 2015.  This followed a growth in sales by 27.11% , mostly from the increase in the sales of Palestine Poultry Company AZIZA- a subsidiary of PIIC-  by 13.04%, which in turn contributed in an increase of its net income as well. Regarding the disclosed data, PIIC records BV of JD1.83 and P/BV of 1.20x. On the other hand, Palestine Real Estate Investment Company PRICO- the investment arm of PADICO Holding in the real estate sector- noted posting net loss attributable to the shareholders of the parent company of JD0.92 million in 9M 2016 compared to net income of JD1.94 million in the corresponding period of 2015. The net loss followed recording operating loss that was decreased mostly by non-operating revenues’ figures. Accordingly, PRICO records BV of JD1.13 and P/BV of 0.49x.  Regarding another sector’s distinguished disclosures, Palestine Electric Company PEC noted reporting net income of $14.13 million in 9M 2016; up by 43.22% . This followed an increase in operating income by 30.47% in addition to the other revenues. Accordingly, PEC records $1.66 BV and P/BV of 0.75x.

 


 

2017-04-26
UCI reports net income of $0.18 million in Q1 2017

2017-04-25
PSE realizes net loss of $0.27 million in Q1 2017

2017-04-25
JREI realizes net loss of $0.07 million in Q1 2017

2017-04-25
AIB reports net income of $1.55 million in Q1 2017

2017-04-25
BJP posts net income of JD0.89 million in Q1 2017

2017-04-25
WATANIYA realizes net loss of $1.12 million in Q1 2017

2017-04-25
NAPCO records net income of JD0.13 million in Q1 2017

2017-04-25
APIC approves distributing 6.06% stock dividends and 6% cash dividends for 2016

2017-04-25
APIC records net income of $3.57 million in Q1 2017

2017-04-23
PEC records net income of $3.60 million in Q1 2017

2017-04-23
TNB approves distributing 5% cash dividends for the year 2016

2017-04-23
Bravo realizes net loss of JD0.13 million in Q1 2017

2017-04-20
Medium liquidity in the quarterly disclosures and dividends distribution seasons

2017-04-20
PEC approves distributing 10% cash dividends for the year 2016

2017-04-19
TNB records net income of $2.77 million in Q1 2017

2017-04-18
BPC approves distributing 20% cash dividends for the year 2016

2017-04-18
VOIC records net income of JD1.07 million for Q1 2017

2017-04-13
Al-Quds Index declines amid anticipation elements’ overlapping

2017-04-13
TRUST approves distributing 15% cash dividends for the year 2016

2017-04-12
JPH proposes 10% cash dividends for the year 2016

2017-04-11
APC records net income of JD0.33 million in Q1 2017

2017-04-11
PIBC proposes 2.35% stocks dividends for the year 2016

2017-04-11
NSC recommends 10% cash dividends for the year 2016

2017-04-11
GUI approves distributing 10% cash dividends for the year 2016

2017-04-10
3G services in 6 months in the West Bank

2017-04-10
BOP approves distributing 2.56% stocks dividends and 10.44% cash dividends for the year 2016

2017-04-10
QUDS proposes distributing 12% stocks dividends for the year 2016

2017-04-06
Dividends approval momentum and a final agreement to run 3G frequencies in the Palestinian markets

2017-04-06
PALTEL approves distributing 40% cash dividends for the year 2016

2017-04-04
PADICO proposes distributing 5% cash dividends for the year 2016

2017-04-03
AIB approves raising its capital to $75 million and distributing 12% cash dividends for the year 2016

2017-04-02
NIC approves 20% cash dividends for the year 2016.

2017-04-02
ISBK approves raising its capital to $69 million and distributing 8.50% cash dividends for the year 2016.

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013