Increase in the semi-annual profits after tax for ASE listed companies for the year 2022 by 139.3%
Mr. Mazen Wathaifi Chief Executive Officer of Amman Stock Exchange (ASE) said that 96% out of 168 listed companies have provided the ASE with their reviewed quarterly reports for the period ended 30/6/2022 during the specified period in the Directives of Listing Securities, through the e- disclosure System XBRL. This high percentage reflects the compliance of listed companies with the laws and regulations and the compliance of such companies with the principles of transparency and disclosure. Mr. Wathaifi added that the net profit after tax attributable to shareholders for the first half of 2022 for the listed companies which have provided the ASE with their financial reports has witnessed a significant improvement where it increased to JD1275.1 million, compared to JD532.8 million for the first half of 2021, an increase of 139.3%. And the profit after tax for these companies amounted to JD1286 million for the first half of 2022, compared to JD518.5 million for the first half of 2021, an increase of 148%. The profit before tax for these companies amounted to JD1720.5 million for the first half of 2022, compared to JD750.6 million for the first half of 2021, an increase of 129.2%. At the sectoral level, the profits after tax attributable to shareholders at the services sector increased by 394.6%, the industrial sector followed by an increase of 284.9%, and finally the financial sector with an increase of 35.8%.
Mr. Wathaifi said that these results call for optimism about the improvement in the companies’ performance and the general economic situation in light of the improvement of a number of macroeconomic indicators. The most important of which is the GDP growth of 2.5% during the first quarter of 2022, compared to the first quarter of 2021. And the increase in the national exports during the first trimester of 2022 by 52.2% compared, to the same period in 2021.
Mr. Wathaifi added that all companies listed on the ASE should provide the ASE with their reviewed interim reports within the specified period, according to the Directives for Listing Securities on the ASE.
Wathaifi confirmed that the ASE posts these financial statements on the ASE website www.exchange.jo under Circulars and Disclosures/ Semiannual reports window.
Mr. Wathaifi also indicated that the ASE will continue suspending the trading in shares of PHILADELPHIA INSURANCE, ARAB UNION INTERNATIONAL INSURANCE, INTERNATIONAL BROKERAGE & FINANCIAL MARKETS, AL SANABEL INTERNATIONAL FOR ISLAMIC INVESTMENTS(HOLDING) PLC. CO., INTERNATIONAL CARDS, ALSHAMEKHA FOR REALESTATE AND FINANCIAL INVESTMENTS and TRANSPORT& INVESTMENT BARTER COMPANY, for failing to provide the ASE with their previous financial statements, in addition to the interim financial statements for the period ended 30/6/2022, noting that the shares of these companies shall continue to be available for trading in the Unlisted Securities Market.