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2025-02-13
Sahem weekly trading report (09-13)-02-2025
In this week, Al-Quds Index continued to decline, to close at 495.38 points; down by 0.73% than the previous week. This mainly followed a decline in the blue-chips prices- with heaviest weights and effects on Al-Quds Index- than the previous week due to the relative quietness witnessed in Palestine Stock Exchange PEX during the week. With the approaching end of the legal period granted to the listed companies to disclose their preliminary annual financial data, the investors’ anticipation accelerated during the week to prevail an inactivity state again in the market, which in turn is slow in filling orders and weak 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. On the other hand, it is worth remembering that Palestine Capital Market Authority has extended the legal period granted to disclose the annual data for the banking sector till 15/03/2025.
Regarding the listed companies financial and operational data disclosures for the year 2024, Arkaan Real Estate Company ARKAAN noted realizing net loss of $7.07 million in 2024, compared to net loss of $8.12 million in 2023. This mainly followed an increase in the real estate investment impairment losses from $9.20 million to $20.00 million in 2024. Regarding the disclosed figures, ARKAAN records BV of $3.03, and P/BV of 0.45x. Also, Palestine Industrial Investment Company PIIC disclosed posting net income attributable to the shareholders of the parent company of JD4.78 million in 2024, compared to JD4.27 million in 2023. This mainly followed an increase in the company’s sales and stake from its associates’ profits. Regarding the disclosed figures, PIIC records BV of JD3.19, and P/BV of 0.59x.
Also, Wataniya Palestine Mobile Telecommunications OOREDOO disclosed posting net income of $11.77 million in 2024, compared to $16.14 million in 2023. This decline was attributable to the increase in the company’s expenses. Based on the disclosed figures, OOREDOO posts BV of $0.55, and P/BV of 1.31x. On another hand, the recommendations to distribute dividends for the shareholders continued. Whereby in the insurance sector, the board of directors of Trust International Insurance Company TRUST proposed to the general assembly, which will be holding a meeting on 10/04/2025, distributing 10% cash dividends for the year 2024, to record dividends yield of 3.77% based on the current price
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