EKTTITAB 08Q2 profit Dh98m +462%

[sharewadi]

EKTTITAB 2008 Q2 profit Dh98m +462%, H1 190m +984% 28 Jul 2008

Ektitab 2008 Q2 report
Ektitab 2008 H1 report

DFM 28 July 2008 (during trading):

(EKTTITAB) Ektittab Holding: Discloses its reviewed interim condensed consolidated financial statements for the period ended 30/06/2008

Ektitab Holding (EKTTITAB) profit figures for second quarter 2008 are (EPS annualised in brackets):

2008 Q2 profit = AED 98.2m +462.1% from 2007 Q2, EPS = 0.14 dhs (0.55 )
2007 Q2 profit = AED 17.5m, EPS = 0.06 dhs
2008 H1 profit = AED 187m +984.4% from 2007 H1, EPS = 0.36 dhs (0.05 )
2007 H1 profit = AED 17.2m, EPS = 0.03 dhs

EPS figures calculated from Net Profit / 517,000,000 shares outstanding.

EKTTITAB share price as of 28 Jul 2008 was 3.08 dhs, so 2008 estimated PE is about 3.08 / 0.55 = 5.6, based on Q2 earnings, which is much less than half the market average PE of about 14. 2008 PE estimate based on H1 earnings is 3.08 / 0.72 = 4.3, which is a little lower.

Massive growth in earnings comes from investment returns, and just brings Ekttitab share prices in line with the other Kuwait investment companies with secondary listings on the DFM. Ektittab shares are untraded on the DFM so far today (13:30).

Other result and related topics

Ekttitab DFM listing - trading started 29 May 2008

2008Q2 UAE result list

EKTTITAB 2008 Q1 results not reviewed - see 08Q1 DFM results for updates
EKTTITAB 2007 FY results not reviewed - see 07FY DFM results for updates
EKTTITAB 2007 Q3 results not reviewed - see 07Q3 DFM results for updates
EKTTITAB 2007 Q2 results not reviewed - see 07Q2 DFM results for updates
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