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2012-08-16
The Palestine Exchange (PEX) received the reviewed
interim condensed financial statements from Jerusalem Cigarette Company (
JCC). 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 Income Statement, the Statement of Comprehensive Income, Changes in Equity Ownership, the Statement of Cash Flows and Notes to the interim financial statements (
3 notes). The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the
Industry 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 666,336
JOD, compared with a net profit before taxes of 1,094,623
JOD from the first six months of
2011, a net
decrease of 39.1%. Total assets of the company reached 39,828,487
JOD as of June 30th,
2012, compared to total assets of 41,682,850
JOD as of December 31st,
2011, a net
decrease of 4.4%. Total liabilities of the company reached 21,945,786
JOD as of June 30th,
2012, compared to total liabilities of 24,574,030
JOD as of December 31st,
2011, a net
decrease of 10.7%. Net ownership equity of the company reached 17,882,701
JOD as of June 30th,
2012, compared with a net ownership equity of 17,108,820
JOD as of December 31st,
2011, a net
increase of 4.5% in the last six months.
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