The shares of 10 Omani energy companies and utilities – listed on the Muscat Financial Market – rose by rates ranging between 1% and 35%, from the start of trading in the year (2023) until the end of trading on Wednesday, February 22 (2023).
The rise in these shares comes after the conclusion of a season of business results that showed the extent of its financial strength, as it achieved a net profit growth of more than 160%, amounting to 41 million Omani riyals (106.6 million dollars) by the end of the year (2022), as monitored by the energy platform specialized in Muscat market disclosures. Securities.
(Omani Rial = $2.60 USD)
The rise of the shares of Omani companies specialized in the field of energy and utilities during that period came amid the high demand for their products, and the increase in their annual revenues at levels that exceed expectations, and this was reflected in the announcement of generous distribution plans to shareholders.
The rises in the shares of Omani energy companies and utilities, from the beginning of 2023 until the end of trading on Wednesday, February 22 (2023), were led by the share of the Phoenix Energy Company by 35%, to reach the level of 0.06 Omani riyals.
Phoenix Energy is leading
The Phoenix Energy Company succeeded in topping the high list during that period, after announcing its endeavor to distribute 5.25% of the paid-up capital to shareholders for the past year (2022), with which it achieved annual net profits of about 20.36 million Omani riyals.
Among the shares of Omani energy companies that have achieved a recovery since the beginning of 2023, the share of the Eastern Water Desalination Company, which rose by 20%, reaching the level of RO 0.140, in conjunction with announcing an increase in its annual profits by 16.4%, and its recommendation to distribute 15% cash to shareholders for a year. (2022).
The share of Al Suwadi Energy Company ranked third, after rising by 17.3%, reaching the level of RO 0.140.
The rise in Al Suwadi Energy shares during that period was supported by the disclosure of an annual net profit growth of 14%, and its intention to distribute cash dividends to shareholders of 5% of the paid-up capital.
Fourth in the list of Omani energy companies, the share of Al Batinah Energy Company, which rose by 14%, to reach the level of RO 0.03, supported by its announcement of an annual net profit growth of more than 4%, and its endeavor to implement cash distributions to shareholders of 5% of the paid-up capital.
As for the fifth place, it went to the share of “SMN Power Holding Company”, which recorded an increase of 13%, to reach the level of RO 0.05, receiving positive support from its disclosure of an annual profit growth of 26%.
Positions 6 to 10
The share of Sembcorp Salalah Water and Electricity Company ranked sixth, after rising by 12.2%, to reach the level of RO 0.07, as the rise was supported by the company’s disclosure of the growth of its annual net profits and revenues by 7%.
And it came seventh in the list of shares of 10 Omani companies specialized in the field of energy and utilities, the share of Al Maha Petroleum Products Marketing Company, which rose by 9%, reaching the level of RO 0.90, in conjunction with announcing an increase in its annual profits by 121.2%, and its recommendation to distribute 85% in cash to Shareholders from the paid-up capital for the year (2022).
As for the eighth place, it went to the share of the Barka Water Desalination Company, which recorded a rise of 1.45%, to reach the level of RO 0.14, supported by announcing an annual net profit growth of more than 11%, and its endeavor to implement cash distributions to shareholders by 6% of the share capital. Paid money.
The share of Musandam Power Company ranked ninth on the list, after rising by 1.3%, reaching the level of RO 0.31.
The rise was supported by the company’s disclosure of an annual net profit growth of 13%, and its intention to distribute cash dividends to shareholders of 27.6% of the paid-up capital.
Tenth on the list came the share of Muscat City Desalination Company, at a rate of 1.02%, reaching the level of RO 0.10, supported by the announcement that its annual net profit had reached RO 2.26 million, and its endeavor to distribute cash dividends to shareholders at a rate of 6.43%.
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