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Palestine Plastic Industries LADAEN realizes a loss of JD0.29 million in the first nine months of 2012

2012-10-30

The Palestine Exchange (PEX) received the unaudited interim condensed financial statements from Palestine Plastic Industries Company ( LADAEN). 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.

The disclosed information includes: the Statement of Financial Position, a Statement of Income & 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 nine months of the year.

According to company data for the first nine months of the year, net loss reached (288,750) JOD, compared with a net loss of (126,689) JOD from the first nine months of 2011, a net increase in loss of 127.9%. Total assets of the company reached 3,979,090 JOD as of September 30^th, 2012, compared to total assets of 4,150,526 JOD as of December 31^st, 2011, a net decrease of 4.1%. Total liabilities of the company reached 874,749 JOD as of September 30^th, 2012, compared to total liabilities of 757,435 JOD as of December 31^st, 2011, a net increase of 15.5%. Net ownership equity of the company reached 3,104,341 JOD as of September 30^th, 2012, compared with a net ownership equity of 3,393,091 JOD as of December 31^st, 2011, a net decrease of 8.5% in the first nine months.