send to a friend by email

Birzeit Pharmaceuticals earns a pretax income of JD3.30; up by 46.5% million in the first nine months of 2012

2012-10-30

The Palestine Exchange (PEX) received the unaudited interim consolidated condensed financial statements from Birzeit Pharmaceuticals Company ( BPC). 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, the Statement of Cash Flows and Notes to the interim financial statements ( 1 note). 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 profit before taxes reached 3,301,685 JOD, compared with a net profit before taxes of 2,253,950 JOD from the first nine months of 2011, a net increase of 46.5%. Total assets of the company reached 41,562,329 JOD as of September 30^th, 2012, compared to total assets of 40,228,844 JOD as of December 31^st, 2011, a net increase of 3.3%. Total liabilities of the company reached 8,176,525 JOD as of September 30^th, 2012, compared to total liabilities of 8,297,885 JOD as of December 31^st, 2011, a net decrease of 1.5%. Net ownership equity of the company reached 33,385,804 JOD (including 213,155 JOD in Minority Rights) as of September 30^th, 2012, compared with a net ownership equity of 31,930,959 JOD (including 195,558 JOD in Minority Rights) as of December 31^st, 2011, a net increase of 4.6% in the first nine months. Furthermore, paid-in capital increased from 13,066,145 JOD on December 31^st, 2011 to 13,091,045 JOD  by September 30^th, 2012, an increase of 0.2%.