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Jerusalem Pharmaceuticals earns a pretax income of JD2.24 million in the first nine months of 2011

2011-11-01

The Palestine Exchange (PEX) received the unaudited interim consolidated condensed financial statements from Jerusalem Pharmaceuticals ( JPH). 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 2,236,730 JOD, compared with a net profit before taxes of 2,491,898 JOD from the first nine months of 2010, a net decrease of 10.2%. Total assets of the company have reached 28,866,457 JOD as of September 30th, 2011, compared to total assets of 28,745,051 JOD as of December 31st, 2010, a net increase of 0.4%. Total liabilities of the company have reached 5,836,791 JOD as of September 30th, 2011, compared to total liabilities of 6,187,869 JOD as of December 31st, 2010, a net decrease of 5.7%. Net ownership equity of the company has reached 23,029,666 JOD (including 67,650 JOD in Minority Rights) as of September 30th, 2011, compared with a net ownership equity of 22,557,182 JOD (including 76,538 JOD in Minority Rights) as of December 31^st, 2010, a net increase of 2.1% in the last nine months.