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AL-Wataniah Towers Company achieved a net loss of $0.05 million in Q1 2012


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 ( 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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