Amman Stock Exchange Companies Lift Nine-Month Profit 4.8% to JOD 1.78 Billion

By The Edge Research Team

Amman Stock Exchange companies that filed results lifted nine-month profit attributable to shareholders 4.8% to JOD 1.78 billion, the second-highest total for the period on record, the exchange said.

For Jordanian equity investors the year splits into a strong first half and a softer third quarter: profit growth slowed from 14.3% at the half-year mark, and industry swung to a fall. In The Edge’s reading, share prices have outpaced earnings: the general index closed on 1 November 12.7% above its end-2025 level, while nine-month profit rose 4.8% on a year earlier.

Mazen Wathaifi, the exchange’s chief executive, said 99% of the 154 listed companies filed reviewed interim statements for the period to 30 September within the deadline, through the XBRL electronic disclosure system. Listing rules require the statements to be reviewed by the company’s external auditor, and the exchange publishes them on its website under quarterly disclosures.

At 0.709 dinars per dollar, the midpoint of the Central Bank of Jordan’s rates for 1 November, the nine-month profit is worth $2.51 billion.

Pre-tax profit rises 5.0% to JOD 2.47 billion

Pre-tax profit rose to JOD 2,473.7 million from JOD 2,356.0 million in the first nine months of 2025. That is a 5.0% rise, or $3.49 billion at the same rate.

Attributable profit grew a little more slowly than pre-tax profit. The gap between the two lines widened 5.5% to JOD 697.5 million. Profit attributable to shareholders equalled 71.8% of pre-tax profit, against 71.9% a year earlier.

Nine-month profit of listed companies (in JOD millions)

Companies that filed reviewed statements for the nine months to 30 September; 2025 figures as given in the 2026 release. The bottom row is The Edge’s calculation.

The 2025 base differs from the figure published a year ago. In November 2025, 162 companies were listed and 96% filed on time. Nine-month profit attributable to shareholders was then put at JOD 1,716.7 million, 10.9% more than in 2024.

The base used this year, JOD 1,694.8 million, is JOD 21.9 million lower, and neither release gives the reason. On either base, growth this year is well below last year’s pace. The pre-tax base is JOD 27.6 million lower than the JOD 2,383.6 million published then.

Third-quarter profit falls and industry swings to a decline

The gain for the nine months was smaller than the gain in the first half alone. Profit attributable to shareholders rose 14.3% to JOD 1,200.5 million in the six months to June. Pre-tax profit rose 10.7% over the same half.

On The Edge’s calculation from the half-year and nine-month totals, third-quarter profit attributable to shareholders was JOD 575.7 million, against JOD 644.7 million a year earlier. That is a fall of 10.7%. Pre-tax profit for the quarter fell 5.2% to JOD 805.6 million.

The two releases cover slightly different groups of companies, 155 listed in August and 154 now, so the quarterly split is indicative rather than exact.

Third quarter, derived (in JOD millions)

The Edge’s calculation: nine-month totals less first-half totals, both from the exchange’s releases for 2026; the company sets of the two periods differ slightly.

By sector, the sharpest change came in industry. Industry, whose attributable profit rose 17.5% in the first half, ended the nine months 9.6% lower than a year earlier.

Services kept their pace, with profit up 66.0% after 64.3% at the half-year. The financial sector slowed to 4.7% from 6.7%.

A year earlier the order was different. Industry led with a 15.8% rise in the first nine months of 2025, while the financial sector rose 9.3% and services 4.1%.

Change in attributable profit by sector (% on a year earlier)

Growth rates as published for each period, each on its own release’s company set; the releases give no sector profit levels, so sector shares cannot be derived.

Share prices rise 12.7% this year as trading value climbs 55.8%

The general index, ASEGI, closed at 4,069.86 points on 1 November, after a 1.15% fall on the day. That left it 12.7% above its 2025 close of 3,611.62. The figure in the exchange’s 1 November release, 4,117.3 points and 14.0% up on the year, was the close of 29 October.

The index rose 45.1% in 2025, to its highest level since 2007. The exchange won the Arab Federation of Capital Markets’ award for that year as the best-performing Arab market by growth in its price index.

The index has given back some ground since September: the exchange put its gain for the year at 15.7% on 29 September. In the half-year release of 2 August the index was at 4,012.6 points, up 11.1% on the year. The 1 November close is 1.4% above that level.

By the 1 November close, the ASE20 index of larger companies was up 11.1% on the year and the total return index, ASETR, 16.8%. The release gave 12.3% and 18.2%, at the 29 October close.

Index closes (points)

Closes from the exchange’s daily trading bulletins; 31 December 2025 is the 2025 close.

Market capitalisation rose 9.1% this year to JOD 28.9 billion ($40.8 billion), from JOD 28.8 billion in the August release.

Trading value rose 55.8% on the same period of 2025. The daily average reached JOD 13.4 million, against JOD 8.8 million for the whole of 2025. That is 52.3% higher, although the rise in total trading value has eased from 75% in the half-year release.

Market indicators in the exchange’s two results releases

Year-to-date changes are against the end of 2025; trading value is compared with the same period of 2025. The 1 November release gives index figures at the 29 October close.

Foreign investors own 46.0% of the market

Non-Jordanian investors owned 46.0% of the market value of listed companies at the end of September. Non-Jordanian institutional investors, including companies and funds, accounted for 32.8% of market value.

Arab investors owned 29.6% and non-Arab investors 16.4%. By sector, non-Jordanians owned 51.4% of industry and 47.6% of the financial sector. In services their share was 22.4%.

They were net sellers over the year to September, with purchases of JOD 311.5 million against sales of JOD 366.9 million. Net sales came to JOD 55.4 million.

In September alone they were net buyers, by JOD 12.2 million. Their purchases of JOD 49.5 million made up 15.8% of the month’s trading value.

Trading restrictions stay on the shares of Tuhama for Financial Investments (THMA), which did not file interim statements for the periods to 30 June and 30 September within the deadline.

Figures are from the Amman Stock Exchange’s releases on listed companies’ results of 1 November 2026 (nine months to 30 September, with market indicators), 2 August 2026 (first half) and 2 November 2025 (nine months of 2025), its 2025 performance release of 30 September 2026 and its non-Jordanian ownership release of 8 October 2026; index closes are from its daily trading bulletins of 31 December 2025, 29 October 2026 and 1 November 2026; dollar values use the midpoint of the Central Bank of Jordan’s rates of 1 November 2026; percentages, differences and third-quarter figures not attributed to a source are The Edge’s calculations.

Sources: Amman Stock Exchange, Central Bank of Jordan, Petra, The Edge.

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