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Semi annual disclosure 2013: Net Profit after tax of listed companies on the Palestine Exchange (PEX) is 120 million USD

2013-08-21

The Palestine Exchange concluded its semi annual disclosure period for 2013 with 98% compliance from listed companies  within the legal period specified in the disclosure rules.Results show that 73.5% of companies achieved profits in H1 2013 compared to 60.4% for the same period in 2012, an increase of 23%. Half one total profits after tax of thirty six companies exceeded 136 million USD while the loss of the other thirteen companies amounted (16.7) million USD for the same period.

Ahmad Aweidah, CEO of the PEX commented:

"The market is picking up again given various positive indicators; cash dividend yield in 2012 was 6.43% and averaged 6.53% over the past five years, one of the highest world wide. There is some progress on the political side which is positively affecting sentiment on the exchange. Most listed companies on the PEX are profitable and showing progress in their business performance. Some leading stocks rallied more than 25% in the last two months".Aweidah pointed to the fact that MSCI recently launched a "Stand Alone Index for Palestine", an additional positive development. Aweidah hoped that these positive indicators will attract even more liquidity to the PEX.