OEIHC 08Q2 loss Dh-3.8m -110%

[sharewadi]

OEIHC 2008 Q2 loss Dh-3.8m -110%, H1 35m -21% 11 Aug 2008

OEIHC 2008 Q2 report
OEIHC 2008 H1 report

ADX 11 August 2008 (during trading):

(OEIHC) Oman & Emirates Inv. Holding discloses summary financial results for 2nd quarter, 2008

Oman and Emirates Investment Holding Company (OEIHC) financial results for second quarter 2008 are (EPS annualised in brackets):

2008 Q2 loss = AED -3.76m -109.5% from 2007 Q2, EPS = 0.00 dhs (0.00 )
2007 Q2 profit = AED 39.5m, EPS = 0.29 dhs
2008 H1 profit = AED 35m -20.7% from 2007 H1, EPS = 0.29 dhs (0.06 )
2007 H1 profit = AED 44.1m, EPS = 0.36 dhs

EPS figures as stated in OEIHC disclosure.

As the company did not make a profit for 08Q2, PE calculation is not very useful. However, 2008 PE estimate based on H1 earnings is about 7.0, around half the overall UAE market average, but probably inline with average PEs for investment companies with secondary listings in the UAE.

Figures to be confirmed when complete financial statements released - OEIHC only supplied preliminary data for 2008H1 so Q2 figures were calculated from H1 and Q1 data.

Stated EPS figures for H1 indicate 2007FY share dividend of 30% (number of shares outstanding has been adjusted) was approved and included but OEIHC did not supply AGM minutes to confirm.

Other result and related topics

2008Q2 UAE result list

OEIHC 2008Q1 report - profit AED 38.7m 06 May 2008 (SW summary)
OEIHC 2007 FY results not reviewed - see 07FY ADX results for updates
OEIHC 2007Q3 report - profit AED 54.3m 18 Nov 2007 (SW summary)
OEIHC 2007 Q2 results not reviewed - see 07Q2 ADX results for updates
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