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The Palestine Exchange (PEX) received the unaudited interim consolidated financial statements from Palestine Mortgage & Housing Corporation Company ( PMHC). 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.
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 ( 1 note). The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the Banking & Financial Services 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 profit before taxes reached 52,489 USD, compared with a net loss of (11,794) USD from the first three months of 2011. Total assets of the company reached 37,173,398 USD as of March 31st, 2012, compared to total assets of 37,125,997 USD as of December 31st, 2011, a net increase of 0.1%. Total liabilities of the company reached 16,061,552 USD as of March 31st, 2012, compared to total liabilities of 16,119,882 USD as of December 31st, 2011, a net decrease of 0.4%. Net ownership equity of the company reached 21,111,846 USD as of March 31st, 2012, compared with a net ownership equity of 21,006,115 USD as of December 31st, 2011, a net increase of 0.5% in the first three months.