ALMADINA 08Q3 profit Dh66m -62%

[sharewadi]

ALMADINA 2008 Q3 profit Dh66m -62%, M9 200m -19% 13 Nov 2008

Al Madina Finance 2008 Q3 report
Al Madina Finance 2008 M9 report

DFM 13 November 2008:

(ALMADINA) Al Madina Finance: Discloses its interim consolidated condensed financial statements for the period ended 30/09/2008

Al Madina for Finance & Investment (ALMADINA) profit figures for third quarter 2008 are (EPS annualised in brackets):

2008 Q3 profit = AED 65.9m -62.2% from 2007 Q3, EPS = 0.14 dhs (0.55 )
2007 Q3 profit = AED 174m, EPS = 0.41 dhs
2008 M9 profit = AED 195m -18.5% from 2007 M9, EPS = 0.52 dhs (0.05 )
2007 M9 profit = AED 240m, EPS = 0.63 dhs

EPS figures calculated from Net Profit / 377,808,750 shares outstanding.

ALMADINA share price as of 13 Nov 2008 was 6.00 dhs, so 2008 estimated PE is about 6.00 / 0.55 = 10.9, based on Q3 earnings, which is close to the average market PE of about 10. 2008 PE estimate based on M9 earnings is 6.00 / 0.69 = 8.7, which is a little lower but still high compared to other Kuwait investment companies with secondary listings on the DFM. Shares are infrequently traded - last trade was on 05 November 2008.

Other result and related topics

2008Q3 UAE result list

ALMADINA 2008Q2 profit AED 61.8m 24 Jul 2008
ALMADINA 2008Q1 report - profit AED 67.6m 20 May 2008 (SW summary)
ALMADINA 2007FY report - profit AED 287.7m 26 Mar 2008 (SW summary)
ALMADINA 2007Q3 profit AED 174.3m 27 Nov 2007

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