Amman: Ninety-four percent of the 161 companies on the Amman Stock Exchange (ASE) submitted annual financial statements by the end of 2024 through the e-disclosure system using the eXtensible Business Reporting Language (XBRL), said ASE CEO, Mazen Al-Wathaifi. This percentage demonstrates the extent to which companies adhere to valid laws and regulations and the principles and standards of disclosure and transparency in general, he said in a statement on Monday.
According to Jordan News Agency, Wathaifi stated that public shareholding companies’ after-tax profits stood at JD 2.072 billion, compared to JD 1.948 billion for 2023, marking an increase of 6.4 percent. This figure represents the second-highest historical net profit by companies on the ASE. He further added that pre-tax profits were at JD 2.840 billion in 2024, compared to JD 2.821 billion in 2023, reflecting a 0.7 percent increase.
From a sectoral perspective, after-tax profits attributable to shareholders of the financial sector for companies that submitted statements increased by 24.4 percent. In contrast, service sector profits dropped 5.5 percent, and those of the industrial sector plunged 12.7 percent.
These gains were achieved despite challenging circumstances and geopolitical tensions in the region. They were driven by financial and monetary stability and positive indicators of the national economy. The positive performance of many economic sectors recorded growth rates of 2.7 percent in the fourth quarter of 2024 and a total growth rate of 2.5 percent for the year.
“This calls for optimism and enhances confidence in the economy’s ability to recover, achieve more positive figures, and enhance its resilience to overcome challenges,” Wathaifi remarked.