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The National Carton Industry earns a pretax income of $27 thousand in the first quarter of the year 2012

2012-04-22

The Palestine Exchange (PEX) received the unaudited interim condensed financial statements from The National Carton Industry Company ( NCI). 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, 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 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 three months of the year.

According to company data for the first three months of the year, net profit before taxes reached 27,333 USD, compared with a net profit before taxes of 63,557 USD from the first three months of 2011, a net decrease of 57.0%. Total assets of the company reached 5,840,220 USD as of March 31st, 2012, compared to total assets of 5,739,015 USD as of December 31st, 2011, a net increase of 1.8%. Total liabilities of the company reached 431,928 USD as of March 31st, 2012, compared to total liabilities of 373,715 USD as of December 31st, 2011, a net increase of 15.6%. Net ownership equity of the company reached 5,408,292 USD as of March 31st, 2012, compared with a net ownership equity of 5,365,300 USD as of December 31st, 2011, a net increase of 0.8% in the first three months.