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2023-02-09
Sahem weekly trading report (05-09)-02-2023
With the approaching end of the legal period granted to the listed companies to disclose their preliminary annual financial data in the coming week, the investors’ anticipation accelerated during the week to prevail an inactivity state again in the market, which in turn is weakness in the price depth, in parallel to some exceptions for some companies that have already disclosed their financial data and their strategies for distributing dividends. In terms of prices, Al-Quds Index increased by 0.70% than the previous week, to record 656.72 points after trading in a relatively narrow range. On another hand, the listed companies continued to raise their recommendations to distribute dividends for shareholders for the year 2022. In this context, the board of directors of Global United Insurance Company GUI raised a recommendation to the general assembly, which will be holding a meeting on 20/03/2023, to distribute 10% cash dividends for the shareholders for the year 2022.
Regarding the listed companies preliminary financial and operational data disclosures for the year 2022, companies in the industry sector were the first to disclose their data, whereby, the disclosure of Palestine Poultry Company AZIZA was the first among all listed companies. AZIZA disclosed posting net income of JD2.82 million in 2022 compared to net income of JD2.97 million in 2021. This mainly resulted from an increase in the companies’ expenses and decline in its other revenues. Based on the disclosed figures, AZIZA posts book value BV of JD2.46 and P/BV of 1.20x. In the same sector, the Arab Company for Paints Products APC disclosed posting net income of JD0.57 million at the end of 2022 compared to JD1.01 million in 2021. This mainly came despite an increase in the company’s sales. Based on the disclosed figures, APC posts BV of JD3.29 and P/BV of 1.95x.
In the investment sector, Union Construction & Investment Company disclosed posting net income of $2.81 million at the end of 2022 compared to net income of $1.17 million in 2021. This mainly came due to recording $2.43 million profits from property investment valuation in the year 2022. Based on the disclosed figures, UCI records BV of $1.36 and P/BV of 0.35x. In the services sector, Nablus Surgical Center NSC noted posting net income of JD1.15 million in 2022 compared to net income of JD1.13 million in 2021. This mainly resulted from an increase in the company’s gross profits despite recording loss from exchange rates. Based on the disclosed figures, NSC posts BV of JD2.27 and P/BV of 1.18x.
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