Al Jazeira Services

Al Jazeira Services Company SAOG (AJSS)

United Securities LLC1 Investment Research

FY2007 Result flash Feb 17, 2008

Al Jazeira Services Company SAOG reported a net profit of RO 12.10mn for FY2007 Al Jazeira Services Company

FY2007

FY2006

Growth %

Q4 2007

Q3 2007

Growth

Revenue (RO ,000)

5,863

4,669

26%

1,481

1,846

-20%

Net Profit (RO ,000)

12,094

2,045

491%

4,791

1,740

175%

EPS (RO)

0.097

0.021

364%

0.039

0.014

BVPS (RO)*

0.183

0.135

36%

0.183

0.183

53%

12%

334%

21%

8%

ROE *

Key Stock Info Current Market Price

Result Summary 0.470

¾

Al Jazeira Services Company has reported 491% increase in net profit to RO 12.1mn during the

Annualised P/E (x)

4.9

financial year ended 31st Dec 2007 as against RO 2.05mn during the financial year ended 31st

P/BV (x)

2.6

December 2006. Company’s investments during the year grew by more than RO 10.84mn as against

DPS

0

Dividend Yield Paid up capital (RO ,000) No of Shares (,000) Market Cap (RO ,000) Prepared by: Research Department, United Securities LLC, PB 2566, PC112, Ruwi, Oman e-mail: [email protected]

2.1%

a loss of RO 730,000 during FY2006. ¾

12,413 124,130 59,086

EPS of RO 0.097 for FY2007 showed growth of 364% as compared to RO 0.021 recorded during the previous fiscal.

¾

The shares currently trades at 4.8 times of its FY2007 earnings and 2.6 times of its book value as of September 30, 2007, which stands at RO 0.183

*Calculation is based on equity as of September 30, 2007.

Disclaimer: This report has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. While all care has been taken to ensure that the facts stated herein are accurate and the estimates, opinions and expectations contained herein are fair and reasonable, neither United Securities LLC, nor any of its employees shall be, in any way, responsible for the contents. This shall not be construed as an offer to buy or sell the investments referred to in this report