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The Vegetable Oil Industries earns a pretax income of JD 1.84 million in the first nine months of 2011

2011-10-12

The Palestine Exchange (PEX) received the unaudited interim condensed financial statements from The Vegetable Oil Industries (VOIC). The PEX disclosure rules in place give all of the PEX listed companies a period of one month to report their third quarter interim financial statements as reviewed by the company’s internal 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.   

VOIC is the second listed company, and the first company within the Industry Sector to disclose its interim financial statements for the first nine months of 2011.

The disclosed information includes: the Statement of Financial Position, the Income Statement, Changes in Equity Ownership and the Statement of Cash Flows and notes to the interim financial statements. The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the Industry Sector. The interim report also should include information required by Article (37/2) of the PEX disclosure rules in place: the company included information regarding management, issued shares, material changes and significant events that may have affected financial performances during the first nine months of the year.

According to company data for the first nine months of the year, net profit before taxes reached 1,842,228 JOD, compared with a net profit before taxes of 1,528,628 JOD from the first nine months of 2010, a net increase of 20.5%. Total assets of the company have reached 13,398,796 JOD as of September 30th, 2011, compared to total assets of 12,059,884 JOD as of December 31st, 2010, a net increase of 11.1%. Total liabilities of the company have reached 1,675,930 JOD as of September 30th, 2011, compared to total liabilities of 1,514,947 JOD as of December 31st, 2010, a net increase of 10.6%. Net ownership equity of the company has reached 11,722,866 JOD as of September 30th, 2011, compared with a net ownership equity of 10,544,937 JOD as of December 31st, 2010, a net increase of 11.2% in the last nine months.