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Jerusalem Cigarette Company earns a pretax income of JD1.62 million in the first nine months of 2012

2012-10-30

The Palestine Exchange (PEX) received the unaudited interim condensed financial statements from Jerusalem Cigarette Company ( JCC). 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, the Income Statement, the Statement of 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 profit before taxes reached 1,616,805 JOD, compared with a net profit before taxes of 1,046,466 JOD from the first nine months of 2011, a net increase of 54.5%. Total assets of the company reached 40,568,805 JOD as of September 30^th, 2012, compared to total assets of 41,682,850 JOD as of December 31^st, 2011, a net decrease of 2.7%. Total liabilities of the company reached 21,070,610 JOD as of September 30^th, 2012, compared to total liabilities of 24,574,030 JOD as of December 31^st, 2011, a net decrease of 14.3%. Net ownership equity of the company reached 19,498,195 JOD as of September 30^th, 2012, compared with a net ownership equity of 17,108,820 JOD as of December 31^st, 2011, a net increase of 14.0% in the first nine months.