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The listed companies submit their financial results for the first quarter of 2011

2011-05-04

Ahmad Aweidah, the CEO of Palestine Exchange announced ending the legal period for the listed companies to disclose the financial results for the first quarter of 2011 by the end of the working day of Monday 02/05/2011, in accordance with the applicable disclosure system that gives each company a maximum period of one month starting from the date of ending the first quarter. The legal period was extended to end on 02/05/2011, following the Labor Day holiday on 01/05/2011 and the weekend holiday that matched on 30/04/2011. Aweidah indicated that:

1-      The number of listed companies reached 45 companies in time of ending the given period, including two suspended companies and one new listing which started trading o 04/05/2011.

2-      43 companies disclosed within the legal period, where Palestine Insurance Company disclosed in the next day, while the suspended Al I’timan Investment and Development failed to disclose.

3-      The disclosing rate within the legal period reached 95.56%, while reached 97.78% if suspended companies were excluded.

And according to the first quarter financial results; 34 out of 44 companies achieved profits which accounts for 77.27%, while 10 companies reported losses ( 5  companies from the services sector, and one company from each sector of banking & financial services, insurance and industry, in addition to two companies from the investment sector).