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Nablus Surgical Center (NSC) earns a net profit before tax of JD 63 thousand in 1H of 2011

2011-08-16

The Palestine Exchange (PEX) received reviewed interim condensed financial statements from Nablus Surgical Center (NSC). The PEX disclosure rules in place give all of the PEX listed companies a period of 45 days to report their first half interim financial statements as reviewed by their independent external auditor. Their disclosure has been published on the PEX website (www.pex.ps) and emailed to PEX member securities firms in conjunction with this press release.

The disclosed information includes: Independent Accountants" Review Report, the Statement of Financial Position, the Income Statement, and Changes in Equity Ownership, the Statement of Cash Flows and Notes to the interim financial statements (12 notes). The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the Service Sector. The interim report also includes the additional information required by Article (38/2) of the PEX disclosure rules in place concerning management, issued shares, material changes and significant events that may have affected financial performance during the first half of the year.

According to company data for the first half of this year, net loss reached (63,264) JOD, compared with a net profit before taxes of 159,022 JOD from the first half of 2010. Total assets of the company have reached 6,309,618 JOD as of June 30th, 2011, compared to total assets of 5,889,486 JOD as of December 31st, 2010, a net increase of 7.1%. Total liabilities of the company have reached 2,545,785 JOD as of June 30, 2011, compared to total liabilities of 2,062,389 JOD as of December 31st, 2010, a net increase of 23.4%. Net ownership equity of the company has reached 3,763,833 JOD as of June 30th, 2011, compared with a net ownership equity of 3,827,097 JOD as of December 31st, 2010, a net decrease of 1.7% in the last six months.

Within the conclusion in the Independent Auditors’ Review Report (Tarifi Establishment), the following was conveyed: Based on our limited review, nothing has come to our attention that causes us to believe that the accompanying interim condensed financial statements for them to be in conformity with International Accounting Standard No. (34) .