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Arab Investors earns pretax income of JD33 thousand in the first nine months of 2011

2011-10-27

The Palestine Exchange (PEX) received the unaudited interim condensed financial statements from Arab Investors ( ARAB). 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.

The disclosed information includes: the Statement of Financial Position, the Statement of Comprehensive Income, Changes in Equity Ownership, the Statement of Cash Flows. Notes to the interim financial statements were not provided. The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the Investment Sector. The interim report should also 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 33,111 JOD, compared with a net profit before taxes of 1,279 JOD from the first nine months of 2010, a net increase of 2,488.8%. Total assets of the company have reached 10,460,357 JOD as of September 30th, 2011, compared to total assets of 10,655,403 JOD as of December 31st, 2010, a net decrease of 1.8%. Total liabilities of the company have reached 624,193 JOD as of September 30th, 2011, compared to total liabilities of 553,657 JOD as of December 31st, 2010, a net increase of 12.7%. Net ownership equity of the company has reached 9,836,164 JOD as of September 30th, 2011, compared with a net ownership equity of 10,101,746 JOD as of December 31st, 2010, a net decrease of 2.6% in the last nine months.

 

 

 

 


 

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