METHAQ 2008Q4 profit Dh0.2m

[sharewadi]

METHAQ 2008 Q4 profit Dh0.2m, FY 11m - 15 Jan 2009

Methaq 2008 Q4 report
Methaq 2008 annual report

Methaq Islamic Takaful Insurance (METHAQ) profit figures for 2008 Q4 are (EPS annualised in brackets):

2008 Q4 profit = AED 0.199m, EPS = 0.0013 dhs (0.0053 )
2008 FY profit = AED 11.1m, EPS = 0.07 dhs
No results for 2007 as Methaq didin't exist then.

EPS figures as stated in METHAQ disclosure.

METHAQ (or Mithaq) share price as of 15 Jan 2009 was 4.22 dhs, so 2008 estimated PE is about 4.22 / 0.0053 = an outrageously high 791, based on Q4 earnings, and a much lower 60.3 based on the FY earnings, although as they were for less than a full year (about 9 months I think - Methaq IPO was in January), then perhaps a fairer annualised PE would be about 45. At least Methaq made a profit for Q4, although it was almost nothing. How many UAE insurance companies are we going to see with a loss?

Methaq shares shot up 131% (while the rest of the market was plummeting) from AED 2.19 on 25 December 2009 to a recent high of 5.06 earlier this week on 12 January 2009, but have pulled back since then. Methaq shares are down 1.2% to 4.17 on relatively low volumes in the first hour of trading today, while the ADX is down 1.7%.

ADX 15 January 2009 (am):

(METHAQ) Methaq Takaful Insurance Company discloses preliminary annual financial results for 2008

Other result and related topics

2008Q4 UAE result list

METHAQ 2008Q3 profit AED 9.4m 15 Oct 2008
METHAQ 2008Q2 profit AED 1.5m 07 Jul 2008
METHAQ 2008 Q1 results not reviewed - see 08Q1 ADX results for updates
METHAQ 2007 FY results not reviewed - see 07FY ADX results for updates
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