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2023-05-25
Sahem Weekly Trading Report (21-25)-05-2023
Trading in Palestine Stock Exchange PEX is still characterized with general heaviness after approving the dividends distribution for the year 2022. While Al-Quds index continued to decline in this week as well. And except the insurance sector which is required to disclose its financial data for Q1 2023 at the end of July, and with the disclosures’ completion of 39 companies out of 40 listed companies required to disclose their data for Q1 2023, the PEX records an average PE ratio of 12.0x and an average P/BV of 1.32x.
Regarding the data of the PEX’s sectors, the banking and financial services’ sector contributed in 39.37% from total disclosed companies’ profits attributable to the parent companies; the largest percentage among all sectors. Whereby, all of the companies that disclosed their data in the sector recorded profits in Q1 2023. According to the disclosed data, the average PE of the sector records 9.0x, and average P/BV reached 1.05x. This came due to the increase in the sector’s profits attributable to the parent companies by 18.44%. While, Bank of Palestine BOP constitutes the lion’s share of 48.09% from the total achieved profits attributable to parent companies in the sector.
In the services sector, 89% of the sector’s companies disclosed their Q1 2023 financial results; where the services sector contributed by 26.77% from the total disclosed companies among all sectors in the PEX, while one company couldn’t disclose its data within the granted period. Where 88% of the disclosed companies in the sector achieved profits attributable to the parent companies in Q1 2023, whereas, 12% of the disclosed companies in the sector realized net losses in Q1 2023. Whereby, Palestine Telecommunications Company PALTEL’s profits contributed in 60.92% from the total sector’s profits attributable to the parent companies, in which increased in total by 16.77% compared to the corresponding period of last year. According to the disclosed data, the sector records average PE of 14.6x, and average P/BV of 2.62x; the highest among all sectors.
On the other hand, the investment sector’s profits attributable to the parent companies contributed in 25.39% from the total disclosed companies’ profits attributable to the parent companies. While, the investment sector’s profits attributable to the parent companies increased by 45.20% in Q1 2023. Where the sector records an average PE of 12.8x, and average P/BV of 1.03x, the lowest among all sectors. Regarding the Industry sector, it witnessed a decline in the sector’s profits attributable to the parent companies by 18.88% in Q1 2023; constituting 8.47% from total sector’s profits attributable to the parent companies, whereby, Birzeit Pharmaceuticals Company BPC and the Vegetable Oil Industries Company VOIC achieved the highest profits, in which both contributed for 48.04% from total sector’s profits attributable to the parent companies. Accordingly, the Industry sector records an average PE of 15.42x- the highest among other sectors-, and average P/BV of 1.23x.
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