1.998 billion dinars in net profits from public shareholding companies

Al-Anbat -Lima Zeitawi

 ASE Executive Director Mazen Wathaifi said that 163 out of 170 listed companies, or 96%, provided the ASE with interim financial statements for the period ended September 30, 2022, within the deadline specified in the instructions to receive the interim financial statements for the third quarter of 2022 through the electronic disclosure system XBRL.

 He pointed out that this high percentage shows the extent to which listed companies comply with the provisions of the laws and instructions in force and also reflects the commitment of Jordanian companies to the principles and standards of disclosure and transparency in general.

 Al-Wathaifi added that the after-tax profits attributable to the company's shareholders for the three quarters of 2022 for the public shareholding companies listed on the Amman Stock Exchange, which provided the ASE with its financial statements, have witnessed a significant increase amounting to about 1.998 billion dinars compared to 901.3 million dinars for the same companies and the same period of 2021, an increase of 121.7 percent. He also noted that the pre-tax profits of these companies amounted to 2.714 billion dinars for the same period in 2021, amounted to 1.266 billion dinars. That's up 114.2 percent.

 In terms of sectors, the industrial sector had the highest profits after tax attributable to the company's shareholders at 228 %, followed by the services sector with an increase of 175.2 percent, and finally the financial sector with a rise of 39.8 %.

 He said that the results of the profits of listed companies call for optimism about the improvement of the performance of listed companies and the performance of the national economy, especially in light of the improvement of many indicators of the national economy, the most important of which are the increase in GDP by 2.9 percent for the second quarter of this year, the increase in tourism income during the first three quarters by 140.8 percent, the rise in national exports during the first seven months by 46.8 percent, and the presence of a comfortable balance of the total assets of the Central Bank amounting to about $16.5 million at the end of August.

 He added that in accordance with the instructions for listing securities on the Amman Stock Exchange Company; all listed companies must provide the Exchange with the audited financial statements by their auditor within the specified period, confirming that the Exchange circulated the financial statements through the Exchange's website www.Exchange.jo in circulars and disclosures (quarterly statements). 

 He explained that the company that did not provide the stock exchange with the audited interim financial statements for the period ended September 30, 2020 within the specified deadline is (WIVA), and therefore, the ASE has stopped trading in the shares of the company referred to above as of Tuesday morning, and the suspension will continue until it provides the stock exchange with the required financial statements, in accordance with the provisions of Article 15/B/6) of the applicable securities listing instructions.

 He explained that trading in the shares of Philadelphia Insurance Company, International Brokerage and Financial Markets Company, Sanabel International Company for Islamic Investments (Holding), Global Cards Company, Al-Shamikha Real Estate and Financial Investments Company, and Al-Mudawaidah Transport and Investment Company will continue to be suspended because these companies did not provide the Stock Exchange with the financial statements for previous periods, in addition to the interim financial statements for the period ending on September 30, 2022.