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2011-10-31
The Palestine Exchange (PEX) received the unaudited
interim consolidated condensed financial statements from
Birzeit Pharmaceuticals (
BPC). 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 Income Statement, Changes in Equity Ownership, and 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
Industry 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 2,253,950
JOD, compared with a net
profit before taxes of 3,116,562
JOD from the first nine months of
2010, a net
decrease of
27.7%. Total assets of the company have reached 37,545,814
JOD as of September 30th,
2011, compared to total assets of 37,336,583
JOD as of December 31st,
2010, a net
increase of
0.6%. Total liabilities of the company have reached 5,773,374
JOD as of September 30th,
2011, compared to total liabilities of 6,212,258
JOD as of December 31st,
2010, a net
decrease of
7.1%. Net ownership equity of the company has reached 31,772,440
JOD (including 264,666 JOD in Minority Rights) as of September 30th,
2011, compared with a net ownership equity of 31,124,325
JOD (including 226,625 JOD in Minority Rights) as of December 31st,
2010, a net
increase of
2.1% in the last nine months. Furthermore, paid-in capital increased from 12,100,000
JOD on December 31st,
2010 to 13,066,145
JOD by September 30th,
2011, an increase of
8.0%.
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