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PICO posts net income of $0.25 million in 2013

2014-02-17

According to Palestine Insurance Company ( PICO) data for year-end preliminary financial statements for year 2013, net profit after taxes reached 251,898 USD, compared with a net loss of (446,937) USD in the audited data for 2012. Total assets of the company reached 32,349,449 USD as of December 31^st, 2013, compared to total assets of 31,553,233 USD as of December 31^st, 2012, a net increase of 2.5%. Total liabilities of the company reached 27,681,298 USD as of December 31^st, 2013, compared to total liabilities of 27,460,891 USD as of December 31^st, 2012, a net increase of 0.8%. Net ownership equity of the company reached 4,668,151 USD as of December 31^st, 2013, compared with a net ownership equity of 4,092,342 USD as of December 31^st, 2012, a net increase of 14.1%.