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Al-Quds Index in the green zone with the end of H1 financial data disclosures’ period

2023-08-17

 Sahem weekly trading report (13-07)-08-2023

Al-Quds Index closed, this week, in the green zone as well; up by 0.08% than the previous week, recording 647.39 points. While Palestine Stock Exchange PEX didn’t witness any trading momentum. Where, with the end of the legal granted period by the PEX for the listed companies to disclose their semi-annual financial disclosures’ for the year 2023, the listed companies’ financial disclosures witnessed a momentum during the week, to form ,for all traders’ categories, a clearer vision of their return on investment.

Regarding the blue-chips disclosures for H1 2023. Palestine Telecommunications PALTEL disclosed posting net income attributable to the shareholders of the parent company of JD26.07 million in H1 2023 compared to JD33.03 million in H1 2022. This mainly resulted from a decline in the company’s revenues. Based on the disclosed figures, PALTEL records book value BV of JD1.52 and P/BV of 3.60x. In addition, Palestine Development & Investment Company PADICO noted posting net income attributable to the shareholders of the parent company of $13.93 million in H1 2023, compared to $12.84 million in H1 2022. This mainly resulted from a decline in the non-controlling interests. Based on the disclosed figures, PADICO posts net income of $1.45, and P/BV of 0.93x.

In the banking and financial services sector, Bank of Palestine BOP disclosed posting net income attributable to the shareholders of the bank of $39.11 million in H1 2023, compared to $31.21 million in H1 2022. This mainly resulted from an increase in net interests, commissions, investing & financing. Based on the disclosed figures, BOP posts BV of $2.28, and P/BV of 0.91x. Also, the leading company – Arab Palestinian Investment Company APIC- disclosed posting net income attributable to the shareholders of the parent company of $11.08 million in H1 2023, compared to $18.30 million in H1 2022. This mainly resulted from an increase in the company’s expenses. Based on the disclosed figures, APIC posts BV of $1.60, and P/BV of 1.96x.