GGICO net profit for 2009 M9 fell 48% to AED 223m from 2008 M9 AED 431m.
Q3 figures not supplied.
Press Release 11 November 2009:
GGICO Announces Profit of Dhs. 223 million for the 9 months of 2009
United Arab Emirates - Gulf General Investment Company PSC (GGICO) announced a net profit of Dhs. 223 million for the nine months of 2009, in comparison of Dhs. 431 million for the same period last year.
The revenue for the first nine months was Dhs. 4.3 billion, compared to 6.2 billion for the same period last year.
The fourth quarter of 2009 and first quarter of 2010 are expected to be more profitable since the company has more building handovers during these periods.
"All our subsidiaries contributed to this positive result, thanks to the diversification in industrial sectors" remarked Mr. Mohamed Al Sari, Managing Director of the Group.
This company is taking so much beating every day although it is well diversified and reasonably profitable ...
The stock has taken a slow but steady down fall.
This quarter it made something around 25m profit only.
EPS for annualised 9M profit is 0.20 and P/E 7.29
EPS for annualised Q3 profit is 0.06734 and P/E 21.68
Profitability is deteriorating despite diversified activities and that's counting right now.
Safe trading could be after one more limit down (5%) then it could fall to 90% of SMA10, say 1.36. _________________ Take your own decision; and you decide your destiny
Watch out for the stock closing limit down (1.25) today and a gap down open tomorrow for a good price to close limit up at the end. Ideally it should not go above 1.29 today.
The stock has a few bubble, like it didn't trade 1.33 when it closed limit down at 1.31.
Start buying from 1.25 and below, if you want to take a risk.
Find out a similar situation in GFH.
http://www.dubaisharetalk.com/viewtopic.php?t=10134 _________________ Take your own decision; and you decide your destiny
It has done a good volume over 1.44 million stocks by now and is trading with a range of 1.25-1.28.
The current volume usually it should have done a 10 fills range.
It's been compressed for a burst but ideally I would like it fall further tomorrow and burst off for the rest of the week. _________________ Take your own decision; and you decide your destiny
Stock opened and closed at 1.27. At the end it is a bullish doji star after doing over a million stocks traded at the low. _________________ Take your own decision; and you decide your destiny
The PE Ratio does not tell the full story. GGICO has a price to book ratio of 0.66 which means the company is valued at less than its assessed assets. GGICO is still making a profit so it’s at no immediate risk of going bust therefore regardless of its earnings the shareprice is unlikely to fall much further.
I don't see it breaking above 1.48 in the near term and plenty of trading oppertunities before reaching there or about. _________________ Take your own decision; and you decide your destiny
I don't see it breaking above 1.48 in the near term and plenty of trading oppertunities before reaching ...
Taj
My target is 1.41, although I think GGICO might have potential for 1.8 if they make a good 4Q results, but I have less risk appetite now. I rather play safe now with banking stock...
I think GGICO was cough into the real estate mess, but not more than 30% of their portfolio
By the way, You were right...The best swing trading opportunities for high risk/return is Aldar and Sorouh. This is were you make 8-12% on every swing.
Read this report on GFH and let me know what you think
The stock absorbed selling above 52W low. Stock did good volume, one of the best in last 3 months. It's showing good buying interest below 1.10 as seen earlier in the month, doing similar volume at 1.08.
The block of 48 fils also found to be a factor here for buying interest. Just like ARMX failed to break above 1.88 rising from 1.40, though reciprocal. ARMX fell 35 fils from 1.88 to 1.53.
Now having stood the bolinger low it can challenge the bolinger high (2.32) breaking SMA25 (2.23). Applying ARMX reciprocally, I would target 1.35-1.38 for reposition exit. Remember the stock has some bubbles between 1.20 and 1.40. And atleast a bonus share is expected for 2009 having profits made during the first three quarters. I would say a retest of upper block limit which is 1.51 on a reasonable rebound.
The day's low stood just above bolinger low and above 52W low (1.03). Also day's low was over 90% of SMA10 and it cann't fall below 90% in the coming session too.
I'm invested in GGICO after a reposition entry at 1.06 yesterday.
I would recommend buying this stock, especially between 1.03 and 1.10.
The stock has a BUYIF signal in CANDDLESTICK analysis. _________________ Take your own decision; and you decide your destiny
Now having stood the bolinger low it can challenge the bolinger high (2.32) breaking SMA25 (2.23). Applying ...
hello thaj, may u please advise when they are likely to announce bonus shares..on what dates, should we hold the share..is it year end or somewhere in march to april..
Hi Thaj.
I am using al islami financial brokers. You cannot trade in companies like GGICO and Aramex etc through this brokerage service. So can you please advise a similar company which is a good buy and trading at lower bollinger and is a safe bet and will give bonus shares.
Thanks
Hi , I checked with the broker they said its not upto islamic standards that is why we don't allow its trading. Any way I would appriciate if you share your thoughts about any other company like this . I noted the trading pattern of GGICO you were rite none wants to sell below 1.09.
Thanks in advance
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. Thanks for spotting that Thaj, have updated post.
