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Birzeit Pharmaceuticals earns a pretax income of JD2.25 million in the first nine months of 2011

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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