127 ASE-listed companies post profit in 2017

AMMAN — Out of 228 Amman Stock Exchange (ASE)-listed companies, 127 posted profit in 2017, according to a statement of the Jordan Securities Commission (JSC). 

In the statement,  JSC Chairman Mohammad Saleh Hourani said the profit achieved by these companies amounted to around JD1.2 billion, at 5 per cent growth compared to 2016. 

Another 101 ASE-listed companies posted losses, totaling JD185.4 million, said the statement. 

Sixty of the profiting companies distributed cash dividends and free shares, at different rates, according to Hourani who added that these results were reflected by an upward trend of the ASE indicator, since the beginning of the year. 

Investors can find more information on companies’ cash dividends and results by logging into
www.jsc.gov.jo.

Financial figures revealed that the top ten companies generating profit accounted for 70 per cent or JD859.9 million of the overall profit achieved, with the Arab Bank topping the list at JD377.3 million. 

The first ten companies recording losses accounted for JD136.1 million of the overall losses with the Jordan Phosphate Mines Co. topping the list.

Last week, the ASE CEO Nader Azar, said the ASE was still receiving the annual reports of the period that ended in December 31, 2017, from all companies listed at the Amman bourse market. 

ASE-listed companies must submit annual reports, audited by company auditors within three months after the end of their fiscal year, in accordance with the ASE directives.