Profit forecasts are starting to come through for the third quarter 2007 for some DFM and ADSM stocks. I'll add links to relevant topics here. See also 2007 profit forecast (full year), and 2007 second quarter results.
> preliminary profit results released
>> ShareWadi.com summary report done
For discussion related to specific stocks, use the relevant topic or start a new one if it doesn't exist yet. Use this topic only for general 2007 Q3 discussion. Thanks .
I'll add some individual company topics later. But here's a summary from Reuters...
Reuters 01 October 2007 wrote:
Gulf firms to see double-digit profit growth in third quarter
DUBAI - The biggest Gulf Arab companies, bar a few including Dubai-based Emaar Properties (EMAAR), are likely to post double-digit gains in third quarter earnings as record oil prices spur growth, according to a Reuters survey.
Banks, led by National Bank of Kuwait (NBK), are expected to report more income from lending in the third quarter as companies and individuals borrowed more, according to the survey of analysts from 15 brokerages and investment banks. Last year’s third-quarter profits for the sector were hit by a drop in stock market-related income.
“Core earnings are now leading growth for banks rather than fee-based activities, such as from brokerage,” said Kuwait-based Global Investment House (GLOBAL) head of brokerage Faisal Hasan. “The macro-economic environment is good and the pie is increasing for all.”
Third-quarter profit this year at NBK (NBK), the third-largest Gulf Arab bank by market value, may have risen 15.4 per cent to 70.37 million dinars ($251.5 million), its second-biggest quarterly profit ever, according to Global.
Profit at Bank Muscat and Dubai Islamic Bank (DIB) may have jumped as much as 42.2 per cent and 41.6 per cent respectively, the survey shows.
Gulf Arab economies are surging for a fifth year as oil prices, on which they depend for about a third of their gross domestic product, climb to a record, hitting almost $84 per barrel in the United States last month.
Still, some companies such as Kuwait-based Mobile Telemcommunications Co. (ZAIN) may see profit growth slow or even decline as they invest in expansion.
Zain, the third-largest Arab telecom company by market value, will probably post its second straight decline in quarterly profit as it spends on growing its foreign operations, including in Iraq and Saudi Arabia.
By contrast, profit growth at Qatar Telecommunications Co (QTEL) may resume after earnings declined in the second quarter because of financing costs associated with its $3.7 billion takeover in March of Kuwait’s National Mobile Telecommunications Co.
Net income at Abu Dhabi-based Emirates Telecommunications Corp (ETISALAT) is expected to have surged to a third consecutive record, the survey shows.
In the United Arab Emirates, profit growth at Emaar probably slowed for a second quarter as the U.S. housing crisis hurt its operations there and investment in foreign ventures grew.
By contrast, net income at Abu Dhabi-based Aldar Properties (ALDAR) probably about doubled to 584 million dirhams ($159.1 million) as real estate sales accelerated, the survey shows.
Aldar agreed with Warner Bros Entertainment last week to set up a film and videogame production company, and develop a theme park, hotel and cinemas in Abu Dhabi, the UAE capital.
“Aldar is continuing yesterday’s gain that was set in motion by the Warner Bros joint venture news,” said Alaa El Din Moustafa, chief dealer at EFG-Hermes investment bank in Dubai.
Shares of Aldar have surged 12 percent since the Sept. 26 announcement.
In Saudi Arabia, Saudi Basic Industries Corp (SABIC), the world’s largest chemical company by market value, will probably post its fifth consecutive record quarterly profit on higher chemical prices and increased output.
By contrast, earnings at Industries Qatar, another Gulf producer of chemical and steel, may see third-quarter earnings fall, according to Dlala Brokerage & Investment.
Shares of state-controlled Industries Qatar surged 28 percent in September.
More profit forecasts from ET today. I'll start some Q3 topics later for these ones also ...
Emirates Today 02 October 2007 wrote:
Q3 outlook rosy for property and banking
MATT SMITH BUSINESS REPORTER
The UAE property and banking sectors will achieve the strongest growth in the third quarter results, according to analysts’ predictions.
Union Properties (UPP) is expected to see year on year quarterly profits to more than double, while mortgage provider Amlak Finance (AMLAK) and construction giant Arabtec (ARTC) are also poised to announce mega gains of more than 40 per cent.
“We are bullish on the construction sector and Arabtec is the only listed contractor,” said Roy Cherry, Shuaa Capital assistant vice president for research.
“Arabtec has announced it is at full capacity and will avoid taking on new contracts over the next six months.” Shuaa Capital (SHUAA) estimates Emaar (EMAAR) will see a 9.7 per cent rise in profits to Dh1.75 billion, while Al Futtaim HC Securities believe the property giant is on target to make full-year profits of Dh7.1bn.
“Emaar is continuing to do well as a company,” said Cherry. “However, the company has announced it is almost stopping all land sales in favour of developing more properties on its land bank.
“While the short-term impact is expected to be a drop in net profit, in the longterm this should mean higher profits for the company.” Cherry said the lack of transparency over Emaar’s now abandoned land-for-equity swap deal with Dubai Holdings, together with the company’s below par half year results as well as the US subprime mortgage crisis had left a cloud over the company.
“Meanwhile, new favourites are emerging among investors led by Aldar and Sorouh (SOROUH),” said Cherry. “Deyaar Development (DEYAAR) that listed in September provides a further alternative together with Union Properties. Yet Emaar’s stock remains a key value holding in anticipation of a break in sentiment,” he said.
Most banks should announce double-digit profit growth, with Dubai Islamic Bank (DIB) likely to lead the way with both EFG Hermes and MacSharaf Securities saying its profits should climb by more than 40 per cent.
Dubai Islamic may not see a consequent jump in its share price, however, because this has increased by 58 per cent since the end of March and the bank is currently trading close to its upper limit.
“Some of the banks have room for major growth, with most expecting a 15 to 25 per cent increase in profits, especially those based in Abu Dhabi,” said Sherif Abdul Khalek, Al-Futtaim HC Securities Dealing Room Manager.
“Watch out for First Gulf Bank (FGB), while Commercial Bank International (CBI) should also do well.” The upbeat predictions should help the UAE stock markets to make a sustained improvement, with Abu Dhabi already increasing by nearly six per cent since midSeptember.
“The markets are badly lacking news to give them momentum, so if the results are positive, it could mean that there is a trigger for new money to enter and this should push them higher,” said Chahir Hosni, EFG Hermes sales manager.
With profits predicted to increase by almost half, logistics provider Aramex (ARMX) should enjoy a major jump in its share price.
“But Aramex is already at its limit for foreign investors (49 per cent), which eliminates one potential source of investment,” Hosni said.
Here's a summary from EFGHermes, I'll add individual comments and forecasts to relevant topics (see first post in this topic for links).
EFG-Hermes 03 October 2007 wrote:
• Banks: We forecast strong positive earnings growth across nearly all banks under coverage. Our main concern remains the extent to which strong revenue growth will be offset by higher than expected increases in costs that we have seen year to date.
• Real Estate and Construction: We expect positive numbers from bellwether stock Emaar (EMAAR), bolstered by higher land sales, and strong growth from Union Properties (UPP) also.
• Telecoms: We expect Etisalat (ETISALAT) to deliver strong growth numbers. However, the company may face some pressure on margins from its start-up operations, as well as du (DU), which has managed to generate stronger than expected subscriber numbers.
• Energy and Utilities: Due to the lack of visibility for the companies included in this sector, it is difficult to forecast earnings on a quarterly basis. For Tabreed (TABREED), we expect strong earnings growth, supported by positive seasonality effects.
• Industrial: We expect strong earnings growth coming from the sector. We anticipate growth at Aramex (ARMX) to be driven by both its robust local and European businesses, and RAK Ceramics (RAKCEC) to benefit from its aggressive drive into joint ventures. We expect Air Arabia (AIRARABIA) to deliver strong earnings growth, driven in large part by seasonality, and believe there is room for the company to deliver results ahead of our expectations.
Results reviewed and first post list updated with links to topics for
Arab Orient Insurance (AOIC)
Abu Dhabi National Hotels (ADNH)
Bank of Sharjah (BOS)
Fujairah Cement Industries (FCI)
Gulf Finance House (GFH)
Global Investment House (GLOBAL)
Gulf Medical Projects (GMPC)
National Industries (NIND)
Salam Investments (SALAM)
RAK Bank (RAKBANK)
RAK Poultry (RAPCO)
Union Cement Company (UCC)
United Insurance Company (UIC)
Union National Bank (UNB)
New and updated topics and reports since last post (see links in first post or list of Q3 results.
Aabar Petroleum (AABAR)
Al Dhafra Insurance (DHAFRA)
Arabtec (ARTC)
Abu Dhabi Islamic Bank (ADIB)
Agthia (AGTHIA)
Arab Heavy Industries (AHI)
Commercial Bank International (CBI)
Dubai Financial Market (DFM)
Dubai Islamic Bank (DIB)
Gulf Pharmaceuticals (JULPHAR)
MashreqBank (MASQ)
National General Insurance (NGI)
National Industries Group (NIND)
Sharjah Cement (SCIDC)
United Insurance Company (UIC) - preliminary
Union Insurance Company (UNION)
Results released but still to be reviewed
Who wrote this:
(ADAVIATION) Abu Dhabi Aviation discloses board of directors' report on 3rd quarter, 2007 financial results 29/10/2007
Abu Dhabi Aviation announces 3rd quarter, 2007 financial results 29/10/2007
(ADIB) Abu Dhabi Islamic Bank discloses board of directors' report on 3rd quarter, 2007 financial results 28/10/2007
(AAAIC) Al Ain Ahlia Insurance Company board of directors' report on the 3rd quarter, 2007 financial results 30/10/2007
Al Ain Ahlia Insurance Company announces 3rd quarter 2007, financial results 30/10/2007
(ASCANA) 30/10/2007 ASCANA: Discloses its interim reviewed financial statements for the period ended 30/09/2007
(ASMAK) ASMAK board of directors' report on the 3rd quarter, 2007 financial results 30/10/2007
ASMAK announces 3rd quarter 2007, financial results 30/10/2007
ASMAK announces 3rd quarter 2007, summary of financial results 30/10/2007
(BOS) Bank of Sharjah reported net profit of AED 247 Million for the period ending September 30, 2007 - Board Report 29/10/2007
Bank of Sharjah announces 3rd quarter, 2007 financial results 29/10/2007
(CBI) Commercial Bank International discloses board or directors' report on 3rd quarter, 2007 financial results 29/10/2007
(DHAFRA) Al Dhafra Insurance Company board of directors' report on the 3rd quarter, 2007 financial results 28/10/2007
(FCI) Fujairah Cement discloses board of directors' report on 3rd quarter, 2007 financial results 25/10/2007
(GGICO) Oct 30, 2007 GGICO: Announces its preliminary result in profit for the year 2007
(NBF) National Bank of Fujairah announces 3rd quarter 2007, financial results 30/10/2007
National Bank of Fujairah board of directors' report on the 3rd quarter, 2007 financial results 30/10/2007
(NCTH) National Corporation for Tourism & Hotels board of directors' report on the 3rd quarter, 2007 financial results 30/10/2007
National Corporation for Tourism & Hotels announces 3rd quarter 2007, financial results 30/10/2007
(PALTEL) PALTEL announces 3rd quarter 2007, financial results 30/10/2007
(RAKCEC) Ras Al Khaimah Ceramics announces 3rd quarter 2007, financial results 30/10/2007
(RAKNIC) Ras Al Khaimah announces board of directors' report on 3rd quarter, 2007 financial results 29/10/2007
Ras Al Khaimah Insurance announces 3rd quarter, 2007 financial results 29/10/2007
(SCIDC) Sharjah Cement discloses board of directors' report on 3rd quarter, 2007 financial results 29/10/2007
(UIC) United Insurance announces 3rd quarter, 2007 financial results 30/10/2007
(UNION) Union Insurance discloses board of directors' report on 3rd quarter, 2007 financial resutls 29/10/2007
Union Insurance Company board of directors' report on the 3rd quarter, 2007 financial results 28/10/2007
News disclosures to be added
(AMLAK) 30/10/2007 AMLAK FINANCE: Press release regarding launching of its operations in Egypt
(BOS) Bank of sharjah result of board meeting 30/10/2007
(DFM) 30/10/2007 DFM:Dubai Government grants land plot to DFM
(UCC) Union Cement company acquire 50 million in Rak Energy co 29/10/2007
25/10/2007 ESCA resolution regarding resuming a brokerage house to trading
25/10/2007 ESCA resolution regarding resuming AL SHARHAN Brokerage House to trading activities
[edit] Not finished reviewing very many but a brief summary of most of them appears in the market report for 31 October 2007 [/edit]
Who wrote this:
(DIB) 31/10/2007 DIB: Discloses its profits for the 3rd QTR of 2007
(DU) 31/10/2007 Du: Discloses its interim financial statements for the period ended 30/9/2007. (Arabic)
31/10/2007 Du: Press release regarding its financial results for the 3rd QTR of 2007.
Results so far today, still to be reviewed (I'll update later this afternoon)
Who wrote this:
(ABNIC) Al Buhaira National Insurance Company announces 3rd quarter 2007, financial results 31/10/2007
31-10-2007 Al Buhaira National Insurance Company discloses board of directors' report on the 3rd quarter, 2007 financial results
(ADNIC) 31-10-2007 Abu Dhabi National Insurance announces 3rd quarter, 2007 financial results
(AKIC) 31-10-2007 Al Khazna Insurance Company announces 3rd quarter, 2007 financial results
(AWNIC) Al Wathba National Insurance Company board of directors' report on the 3rd quarter, 2007 financial results 31/10/2007
Al Wathba National Insurance Company announces 3rd quarter 2007, financial results 31/10/2007
(DRIVE) 31-10-2007 Emirates Driving Company announces 3rd quarter, 2007 financial results
(FBICO) 31-10-2007 FBICO discloses board of directors' report on the 3rd quarter, 2007 financial results
(FCI) 31-10-2007 Fujairah Cement Industries announces 3rd quarter, 2007 financial results
31-10-2007 Fujairah Cement discloses board of directors' report on the 3rd quarter, 2007 financial results
(FTC) Fujairah Trade Centre announces 3rd quarter 2007, financial results 31/10/2007
(GULFNAV) 31/10/2007 GULFNAV: Discloses its interim financial results for the period ended 30/9/2007
(QCEM) Umm Al-Qaiwain Cement Industries board of directors' report on the 3rd quarter, 2007 financial results 31/10/2007
Umm Al-Qaiwain Cement Industries announces 3rd quarter 2007, financial results 31/10/2007
(SHUAA) 31/10/2007 SHUAA CAPITAL: Discloses its financial results for the period ended 30/9/2007
31/10/2007 SHUAA CAPITAL: Press Release regarding its financial results for the period ended 30/9/2007
(SIC) 31-10-2007 Sharjah Insurance Company announces 3rd quarter, 2007 financial results
(SOROUH) SOROUH board of directors' report on the 3rd quarter, 2007 financial results 31/10/2007
SOROUH announces 3rd quarter 2007, financial results 31/10/2007
(SUDATEL) 31-10-2007 Sudatel announces 3rd quarter, 2007 financial results
(TKFL) 31-10-2007 Takaful announces 3rd quarter, 2007 financial results
(NBD) 01/11/2007 NBD: Press release regarding its 3rd QTR financial results for the year 2007.
01/11/2007 NBD: Discloses its interim condensed consolidated financial statements for the period ended 30/9/2007.
(EBI) 01/11/2007 EBI: Discloses its interim condensed consolidated financial statements for the period ended 30/9/2007
01/11/2007 EBI: Press release regarding its financial results for the 3rd QTR of 2007.
(ENBD) 01/11/2007 ENBD: Discloses its interim un-audited condensed consolidated financial statements for the period ended 30/9/2007
Nov 1, 2007 ENBD: Press release regarding its financial results for the 3rd QTR of 2007.
(FBICO) FBICO announces 3rd quarter, 2007 financial results 01/11/2007
AEIBANK - reports not done
BAYAN - reports not updated
Remaining disclosures - reports updated but no DST post yet.
[edit]More results[/edit]
02-04, 09-10, 16-17 November 2007 done or no results. Last Q3 result seen on 20 November 2007.
DFM 05 November 2007:
05/11/2007 GFH: Announces the 3rd QTR results for Khaleeji Commercial Bank for the year 2007
05/11/2007 GLOBAL: Discloses its interim reviewed condensed consolidated financial statements for the period ended 30/9/2007
04/11/2007 ALLIANCE: Discloses its un-audited interim condensed financial statements for the period ended 30/09/2007
- 06-11-2007 JULPHAR board of directors' report on the 3rd quarter, 2007 financial results
- 06-11-2007 Gulf Cement discloses board of directors' report on 3rd quarter, 2007 financial results
- 06-11-2007 Gulf Cement announces 3rd quarter, 2007 financial results
DFM 06 November 2007:
- 06/11/2007 UPP: Discloses its interim condensed consolidated financial statements for the period ended 30/09/2007
- 06/11/2007 SHOP: Announces its BOD meeting to be held on 12/11/2007 to discuss the financial results for the period ended 30/9/2007
- 06/11/2007 BAYAN: Discloses its interim financial results for the 3rd QTR of 30/9/2007
- 06/11/2007 Shuaa Capital: Discloses its interim reviewed condensed consolidated financial statements for the period ended 30/09/2007
- 06/11/2007 BAYAN: Decision on the process taken to approve company interim financial statements for the period ended 30/9/2007
ADSM & DFM disclosures 07 November 2007:
07/11/2007 UFC: Discloses its interim financial statements for the period ended 30/9/2007
07/11/2007 MAZAYA: Announces its BOD meeting to be held on 7/11/2007 to discuss its financial statements for the period ended 30/9/2007
07/11/2007 BAYAN: Financial statements for period ended 30/9/2007 circulated have been approved.
07/11/2007 NREC: Announces its BOD meeting to be held on 11/11/2007 to discuss its financial statements for the period ended 30/9/2007
DFM 08 November 2007:
BAYAN: Discloses its un-audited interim consolidated financial statement for the period ended 30/09/2007
AEIBANK: Discloses its un audited interim condensed financial statements for the period ended 30/09/2007
ADSM & DFM 11 November 2007:
Emirates Driving Company board of directors' report on the 3rd quarter, 2007 financial results 11/11/2007
Paltel board meeting result 11/11/2007
11/11/2007 DIB: Discloses its interim un-audited condensed consolidated financial statements for the period ended 30/9/2007
DFM 12 November 2007:
12/11/2007 SALAMA: Discloses its interim condensed consolidated financial statements for the period ended 30/09/2007
12/11/2007 SALAMA (IAIC): Press release regarding its financial results for the period ended 30/9/2007
12/11/2007 NREC: Discloses its interim financial results for the period ended 30/9/2007
ADSM & DFM 13 November 2007:
Oman & Emirates Investment Holding Co discloses summary financial results for 3rd quarter, 2007 13/11/2007
13/11/2007 GRAND: Announces its BOD meeting to be held on 15/11/2007 to discuss the financial statements for the period ended 30/9/2007
12/11/2007 ACICO: Announces its BOD meeting to be held on 14/11/2007 to approve its interim financial statements for the period ended 30/09/2007
ADSM & DFM 14 November 2007:
FOODCO discloses financial results for 3rd quarter, 2007 14/11/2007
Preview Dana Gas achieves revenue of AED 719 million 14/11/2007
14/11/2007 IIG: Discloses its interim financial results for the period ended 30/09/2007
14/11/2007 ALMADINA: Discloses its financial results for the period ended 30/9/2007
Nov 14, 2007 AGILITY: Discloses its interim un-audited condensed consolidated financial statements for the period ended 30/9/2007
Nov 14, 2007 GPI: Discloses its interim un-audited condensed consolidated financial statements for the period ended 30/9/2007
Nov 14, 2007 TAMWEEL: Discloses its interim reviewed condensed financial statements for the period ended 30/9/2007
DFM 15 November 2007:
15/11/2007 ACICO: Discloses its interim financial results for the period ended 30/9/2007
15/11/2007 GRAND: Discloses its interim un-audited consolidated financial statements for the period ended 30/9/2007
ADSM 18 November 2007 wrote:
(OEIHC) Oman & Emirates Investment Holding Co board of directors' report on the 3rd quarter, 2007 financial results 18/11/2007
(OEIHC) Oman & Emirates Investment Holding Co discloses financial results for 3rd quarter, 2007 18/11/2007
DFM 18 November 2007 wrote:
(GPI) 18/11/2007 GPI: Financial statements for period ended 30/09/2007 circulated have been approved
(NRE) 18/11/2007 NRE: Discloses its interim un-audited consolidated financial statements for the period ended 30/9/2007
DFM 19 November 2007:
(ACICO) 19/11/2007 ACICO: Discloses its interim un-audited consolidated financial statements for the period ended 30/9/2007
DFM 20 November 2007:
(SHOP) 20/11/2007 SHOP: Discloses its interim un-audited consolidated financial statements for the period ended 30/9/2007
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
Disclaimer: Investing in stocks is risky, you can lose some or all of your money and/or other assets. Anything you read on this site should be regarded as the opinion of the author only and is not to be taken as advice to buy, sell, or hold stocks and/or any other investments. Seek professional advice and do your due diligence before making investment decisions. In particular, do not assume anything you read on this site is correct or accurate. You should accept that only you can be responsible for any investing decisions you make.
2008 FY
FAQ
Search
Print-friendly
Profile
Private messages
Register
Log in
.
.
