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Arab Investors (ARAB) realizes a pretax income of JD 13 thousand in H1 2012

2012-08-13

The Palestine Exchange (PEX) received the reviewed interim condensed financial statements from Arab Investors Company ( ARAB). PEX disclosure rules give all PEX listed companies 45 days to report their first half interim financial statements as reviewed by their independent external 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: an Independent Auditors’ Review Report, the Statement of Financial Position, the Statement of Comprehensive Income, Changes in Equity Ownership, the Statement of Cash Flows and Notes to the interim financial statements ( 16 notes). The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the Investment Sector. The interim report also should include information required by Article (38/2) 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 half of the year.

According to company data for the first six months of the year, net profit before taxes reached 13,075 JOD, compared with a net loss before taxes of (35,843) JOD from the first six months of 2011. Total assets of the company have reached 9,536,274 JOD as of June 30^th, 2012, compared to total assets of 10,112,177 JOD as of December 31^st, 2011, a net decrease of 5.7%. Total liabilities of the company have reached 103,172 JOD as of June 30^th, 2012, compared to total liabilities of 626,289 JOD as of December 31^st, 2011, a net decrease of 83.5%. Net ownership equity of the company has reached 9,433,102 JOD as of June 30^th, 2012, compared with a net ownership equity of 9,485,888 JOD as of December 31^st, 2011, a net decrease of 0.6% in the last six months.