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Nablus Surgical Center (NSC) earns a net profit before tax of JD0.57 million in 2012

2013-02-13

The Palestine Exchange (PEX) received the audited year-end financial statements from Nablus Surgical Center Company (NSC). PEX disclosure rules give all PEX listed companies 45 days to report their preliminary annual financial statements as audited 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:           

1) A copy of the year-end financial statements. The disclosed information includes: an Independent Auditors’ Review Report, the Balance Sheet, the Income Statement, the Statement of Comprehensive Income, and Changes in Equity Ownership, the Statement of Cash Flows, and notes to the interim financial statements (21 notes). 

2) The company attached with the disclosure “the summary of year-end preliminary financial statements” forms for PEX, and it includes: basic information about the company, the date for the convening of the annual ordinary General Assembly meeting, the date of publication of the annual report, the distribution plan for the annual report in addition to a summary of preliminary results for the year 2012 compared with the audited results of 2011.

3) The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the Service Sector.

4) A copy of this disclosure was sent to the Palestinian Capital Market Authority (PCMA) simultaneously.

Within the conclusion in the Independent Auditors’ Report (Al-Reyada For Auditing & Tax Services), the following opinion was conveyed: In our opinion, the financial statements present fairly, in all material respects, the financial position of Nablus Surgical Center Company as of December 31, 2012 and its financial performance and its cash flow for the year then ended in conformity with International Financial Reporting Standards.

According to company data for year-end financial statements for year 2012, net profit before taxes reached 572,252 JOD (506,138 JOD after taxes), compared with a net profit before taxes of 225,862 JOD (201,312 JOD after taxes) in the audited data for 2011, a net increase of 154.7%.  Total assets of the company reached 7,712,420 JOD as of December 31st, 2012, compared to total assets of 6,614,800 JOD as of December 31st, 2011, a net increase of 16.6%.  Total liabilities of the company reached 3,171,492 JOD as of December 31st, 2012, compared to total liabilities of 2,586,391 JOD as of December 31st, 2011, a net increase of 22.6%. Net ownership equity of the company reached 4,540,928 JOD as of December 31st, 2012, compared with net ownership equity of 4,028,409 JOD as of December 31st, 2011, a net increase of 12.7%.