ASE-listed companies’ net profit increases by 176.6%

AMMAN — Chief Executive Officer (CEO) of the Amman Stock Exchange (ASE) Mazen Wathaifi stated that 162 out of 174 listed companies provided the ASE with their financial reports for the first quarter of 2021.

The net profit, after tax, attributable to shareholders for the first quarter of 2021 for the listed companies has increased to JD293.8 million, compared with JD106.2 million for first quarter of 2020, an increase of 176.6 per cent, according to an ASE statement.

The profit before tax for these companies increased to JD401.3 million for the first quarter of 2021, compared with JD175.2 million for first quarter of 2020, an increase of 129 per cent, the statement said.

At the sector level, the industrial sector increased in profits after tax by 668.8 per cent, the services sector followed by an increase of 302.2 per cent, then the financial sector increased by 70.7 per cent.

The CEO said that the first quarter of this year, despite the ongoing COVID crisis, witnessed a significant improvement in companies’ profits compared with the same period of 2020.