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Arab Real Estate Establishment earns pretax income of JD26 thousand in the first nine months of 2011

2011-10-31

The Palestine Exchange (PEX) received the unaudited interim condensed financial statements from Arab Real Estate Establishment ( ARE). 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, the Statement of Cash Flows, and Notes to the interim financial statements ( 6 notes). The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the Service 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 26,563 JOD, compared with a net loss of (212,837) JOD from the first nine months of 2010. Total assets of the company have reached 2,555,760 JOD as of September 30th, 2011, compared to total assets of 1,862,990 JOD as of December 31st, 2010, a net increase of 37.2%. Total liabilities of the company have reached 1,514,938 JOD as of September 30th, 2011, compared to total liabilities of 1,106,107 JOD as of December 31st, 2010, a net increase of 37.0%. Net ownership equity of the company has reached 1,040,822 JOD as of September 30th, 2011, compared with a net ownership equity of 756,883 JOD as of December 31st, 2010, a net increase of 37.5% in the last nine months.

 

 

 

 


 

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