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2020-08-19
Sahem Weekly Trading Report (16-19)-08-2020
In this week- with four trading sessions- Al-Quds Index continues to decline, recording a decrease of 0.84% than the previous week, to close at the level of 455.07 points. This followed a continuous decrease in the prices of the leading stocks with heaviest weights in the Index amid a near absence of selling offers in their depth. Regarding the liquidity, it is still scarce, lacks any momentum and institutional transactions. On another hand, the acceleration of semi-annual financial data is still weak, while, next week is expected to witness a momentum in this regard, after extending the legal period granted by Palestine Stock Exchange PEX to the listed companies to disclose their H1 data, to end on 31/08/2020 instead of 15/08/2020.
In the industry sector, the Arab Company for Paints Products disclosed posting net income of JD0.24 million in H1 2020, compared to net income of JD0.42 million in H1 2019. This mainly followed a decline in the company’s sales and therefore their gross revenues. Based on the disclosed figures, APC records book value BV of JD2.86, and P/BV of 2.10x. On another hand and in the same sector, the National Aluminum & Profile Company NAPCO disclosed realizing net loss of JD0.53 million in H1 2020, compared to net profits of $0.13 million in H1 2019. This mainly followed a decline in the company’s net sales versus an increase in its expenses and the appearance of new expenses item in 2020 compared to 2019 (undistributed production expenses of JD0.22 million). Based on the disclosed figures, NAPCO records BV of JD1.56, and P/BV of 0.65x.
Regarding the semi-annual financial data disclosures of the leading stocks, the Arab Palestinian Investment Company APIC noted posting net income attributable to the shareholders of the parent company of $7.40 million in H1 2020; down by 10.96% than the corresponding period of 2019. This mainly came due to the increase in the company’s expenses versus a decline in its other revenues. Based on the disclosed figures, APIC record BV of $1.40, and P/BV of 1.75x. In the same context, Palestine Telecommunications Company PALTEL disclosed posting net income attributable to the shareholders of the parent company of JD13.89 in H1 2020; down by 60.83% than the corresponding period a year earlier. This mainly followed reporting loss from investments of JD5.58 million in H1 2020, compared to investment profits a year earlier. This also came due to recording other expenses in H1 2020 compared to other revenues in H1 2019. Based on the disclosed figures, PALTEL records BV of JD3.05, and P/BV of 1.20x.
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