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Scarce trading and the listed companies continues to disclose their Q1 2024 data

2024-06-13

 Sahem weekly trading report (09-13)-06-2024

Amid relatively scarce transactions, Al-Quds Index closed at the level of 540.06 points; up by 0.24% than its previous weekly closing level due to trading in a relatively narrow range. While the performance of one stock of the listed companies, especially the blue-chips, didn’t differ from any other. Where the leading stocks stood still; some closed without any change, at their previous weekly closing levels, while others with slight fluctuations that are more likely to relatively decline or increase shyly. On another hand, the listed companies continued to disclose their quarterly data for Q1 2024.

Regarding the quarterly disclosures for Q1 2024, Birzeit Pharmaceuticals BPC disclosed realizing net loss attributable to the shareholders of the parent company of $1.44 million in Q1 2024, compared to net income attributable to the shareholders of the parent company of $1.79 million in Q1 2023. This mainly resulted from realizing loss of selling and valuation of financial assets, in addition to the increase in loss from currency exchange. Based on the disclosed figures, BPC records book value BV of $2.59, and P/BV of 1.49x. In addition, The Arab Company for Paints Products APC disclosed posting net income of JD0.06 million in Q1 2024, compared to net income of JD0.10 million in Q1 2023. This mainly resulted from a decline in the company’s sales. Based on the disclosed figures, APC records book value BV of JD3.20, and P/BV of 2.27x.

Regarding the quarterly disclosures of Q1 2024 in the insurance sector, Al-Mashriq Insurance Company MIC disclosed posting net income attributable to the shareholders of the parent company of $0.33 million in Q1 2024, compared to $0.67 million in Q1 2023.this mainly resulted from realizing loss of investments and recording significant decline in net resulted of issued financing insurance contracts and other revenues as well. Based on the disclosed figures, MIC records book value BV of $1.95, and P/BV of 1.44x. In the same context, Trust International Insurance Company TRUST disclosed posting net income attributable to the shareholders of the parent company of $0.52 million in Q1 2024, compared to net loss attributable to the shareholders of the parent company of $0.09 million in Q1 2023. This mainly resulted from an increase in net resulted from insurance and reinsurance. Based on the disclosed figures, TRUST records book value BV of $3.00, and P/BV of 1.05x.