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2024-11-14
Sahem weekly trading report (10-14)-11-2024
In this week, Al-Quds Index closed this week at the level 479.82 points; up by 0.42% than its previous weekly closing level. Where the market witnessed slow price movements. In terms of liquidity indicators, it was characterized with relative weakness and scarcity coinciding with the receding in investment incentives. Moreover, Palestine Stock Exchange PEX enters in dampened price status that is inclined to decline, in waiting for positive factors that are to activate the rebounding attempts. While Palestine Stock Exchange PEX witnessed 9M 2024 disclosures’ momentum, whereby, only one day remains to the legal granted 9M disclosures period to end.
Regarding the blue-chips’ financial and operational data disclosures for 9M 2024, Palestine Development and Investment Company PADICO noted posting net income attributable to the shareholders of the parent company of $9.53 million in 9M 2024, compared to $10.64 million in the corresponding period a year earlier. This mainly resulted from a decline in the company’s revenues. While total provisions and other expenses recorded a decline from $12.00 million in 9M 2023 to $1.32 million in 9M 2024. Based on the disclosed figures, PADICO posts book value BV of $1.32 and P/BV of 0.77x. Also, Palestine Telecommunications PALTEL disclosed posting net income of JD31.22 million in 9M 2024, compared to JD37.12 million in 9M 2023. This resulted from a decline in the company’s revenues. Based on the disclosed figures, PALTEL posts BV of JD1.56, and P/BV of 2.55x.
In the same context, the leading company of the Arab Palestinian Investment Company APIC disclosed posting net income attributable to the shareholders of the parent company of $4.46 million in 9M 2024, compared to $15.79 million in 9M 2023. This mainly resulted from a decline in the gross sales. Based on the disclosed figures, APIC posts BV of $1.49, and P/BV of 1.51x. Also, Arkaan Real Estate Company ARKAAN disclosed posting net income attributable to the shareholders of the parent company of $7.38 million in 9M 2024, compared to $9.01 million in 9M 2023. This mainly resulted from a decline in the properties’ revenues, in addition to recording an increase in the provision loss from property investment of 300%. Based on the disclosed figures, ARKAAN posts BV of $2.85, and P/BV of 0.46x.
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