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Palestine Industrial Investment PIIC earns a pretax income of JD0.32million Q1 2012

2012-04-30

The Palestine Exchange (PEX) received the unaudited interim consolidated condensed financial statements from Palestine Industrial Investment Company ( PIIC). 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 and the Statement of Cash Flows. The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the Investment 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 324,921 JOD, compared with a net profit before taxes of 690,374 JOD from the first three months of 2011, a net decrease of 52.9%. Total assets of the company reached 44,681,838 JOD as of March 31st, 2012, compared to total assets of 43,378,096 JOD as of December 31st, 2011, a net increase of 3.0%. Total liabilities of the company reached 13,876,680 JOD as of March 31st, 2012, compared to total liabilities of 13,275,770 JOD as of December 31st, 2011, a net increase of 4.5%. Net ownership equity of the company reached 30,805,157 JOD (including 5,030,497 JOD in Minority Rights) as of March 31st, 2012, compared with a net ownership equity of 30,102,326 JOD (including 4,881,498 JOD in Minority Rights) as of December 31st, 2011, a net increase of 2.3% in the first three months.


 

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