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2012-04-11
The Palestine Exchange (PEX) received the unaudited
interim condensed financial statements from
Al-Wataniah Towers Company (
ABRAJ). PEX disclosure rules give all PEX listed companies one month to report their first quarter interim financial statements as reviewed by the company’s internal auditor. In addition to this press release, this disclosure was published on the PEX website (www.pex.ps) and emailed to PEX member securities firms.
ABRAJ is the
first listed company to disclose its interim financial statements for the first three months of
2012.
The disclosed information includes: the Statement of Financial Position,
the Income Statement, the Statement of Comprehensive Income, Changes in Equity Ownership and the Statement of Cash Flows. 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 three months of the year.
According to company data for the first three months of the year, net
loss reached (46,198)
USD, compared with a net
profit before taxes of 46,019
USD from the first three months of
2011. Total assets of the company reached 12,322,041
USD as of March 31th,
2012, compared to total assets of 12,094,002
USD as of December 31st,
2011, a net
increase of
1.9%. Total liabilities of the company reached 466,993
USD as of March 31th,
2012, compared to total liabilities of 300,319
USD as of December 31st,
2011, a net
increase of
55.5%. Net ownership equity of the company reached 11,855,048
USD as of March 30th,
2012, compared with a net ownership equity of 11,793,683
USD as of December 31st,
2011, a net
increase of 0.5% in the last three months.
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