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Palestine Investment and Development realizes a net loss of JD64 thousand in the first nine months of 2012

2012-10-18

The Palestine Exchange (PEX) received the unaudited interim condensed financial statements from Palestine Investment & Development Company ( PID). PEX disclosure rules give all PEX listed companies one month to report their third 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.

PID is the first company within the Investment Sector to disclose its interim financial statements for the first nine months of   2012.

The disclosed information includes: the Statement of Financial Position, the Statement of Comprehensive Income, Changes in Equity Ownership, and the Statement of Cash. 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 nine months of the year.

According to company data for the first nine months of the year, net loss reached (64,528) JOD, compared with a net loss of (19,052) JOD from the first nine months of 2011, a net increase in loss of 238.7%. Total assets of the company reached 2,508,736 JOD as of September 30th, 2012, compared to total assets of 2,578,150 JOD as of December 31st, 2011, a net decrease of 2.7%. Total liabilities of the company reached 45,983 JOD as of September 30th, 2012, compared to total liabilities of 50,869 JOD as of December 31st, 2011, a net decrease of 9.6%. Net ownership equity of the company reached 2,462,753 JOD as of September 30th, 2012, compared with a net ownership equity of 2,527,281 JOD as of December 31st, 2011, a net decrease of 2.6% in the first nine months.

 

 

 


 

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