Ammon News - The CEO of the Amman Stock Exchange, Mazen Al-Wazaifi, said that 93% of the companies listed on the Amman Stock Exchange, numbering 162 companies, provided the Stock Exchange with the reviewed interim financial statements for the period ending on 9/30/2024 within the specified period through the electronic disclosure system XBRL.

Al-Wazaifi pointed out that this high percentage shows the extent of the listed companies' commitment to the provisions of the laws and instructions in force, and also reflects the commitment of Jordanian companies to the principles and standards of disclosure and transparency in general.

He added that according to the instructions for listing securities on the Amman Stock Exchange, all listed companies must provide the Stock Exchange with the financial statements reviewed by their auditors, within the specified period, stressing that the Stock Exchange has circulated the financial statements through the Stock Exchange's website, within the circulars and disclosures (quarterly data).

Al-Wazifi said that the profits after tax attributable to shareholders of the aforementioned companies for the three quarters of 2024 decreased to reach 1,549.4 million dinars compared to 1,647.1 million dinars for the same period in 2023, a decrease of 5.9%.

The profits before tax for these companies also decreased to reach 2,240.9 million dinars for the three quarters of 2024 compared to 2,317.7 million dinars for the same period in 2023, a decrease of 3.3%. It is noteworthy that according to the semi-annual financial statements for 2024 compared to 2023, the decline at that time amounted to 10.5%, reflecting an improvement in the companies' business results during the third quarter of this year.

In terms of sectors, the profits after tax attributable to shareholders of the company for the financial sector for companies that submitted their data increased by 3.1%, while the profits of the industrial sector decreased by 16.8%, and the profits of the services sector decreased by 16.5%. However, there were several sub-sectors that achieved an increase, as the health services sector, the educational services sector, the electrical industries sector, the chemical industries sector, the engineering and construction industries sector, the commercial services sector, the pharmaceutical and medical industries sector, the clothing, leather and textile industries sector, the banking sector, and the technology and communications sector recorded an increase of 490.1%, 79.7%, 73.5%, 35.8%, 17.6%, 16.8%, 11.9%, 10.7%, 3.7% and 2.7% respectively.

He explained that RUMI Financial Brokerage Company, Union Investments Company (UINV) and Union Tobacco and Cigarettes Factories Company (UTOB) did not provide the Stock Exchange with the reviewed interim financial statements for the period ending on 9/30/2024 within the specified period. Accordingly, the Stock Exchange suspended trading in the shares of the above-mentioned companies as of Sunday morning, 11/03/2024.

The suspension will continue until they provide the Stock Exchange with the required financial statements, based on the provisions of Article (15/B/6) of the applicable Securities Listing Instructions. He added that trading in the shares of Al-Nisr Al-Arabi Insurance Company (AAIN), Jordan Insurance Company (JOIN), and Arab Insurance Company - Jordan (AICJ) has been suspended as of 11/03/2024, for not providing the Stock Exchange with the reviewed interim financial statements for the period ending 9/30/2024 within the specified period, and trading in the shares of these companies will be transferred to the OTC market as of Monday morning, 11/4/2024, based on the decision of the Board of Commissioners of the Securities Commission taken in its session held on 11/3/2024.

He explained that trading in the shares of the Jordanian Investment Fund Management Company, Wadi Al-Shita Tourism Investments Company, Al-Ittihad Land Development Company, Al-Manara Islamic Insurance Company, Arab Jordanian Insurance Group Company, and the Mediterranean and Gulf Insurance Company - Jordan will continue to be suspended, due to their failure to provide the Stock Exchange with financial data for previous periods or their failure to pay financial dues, in addition to their failure to provide them with interim financial data for the period ending on 09/30/2024, noting that their shares are being traded through the unlisted stock market.