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PEC posts net income of $4.56 million in 2013

2014-02-17

According to Palestine Electric Co data for year-end preliminary financial statements for year 2013, net profit after taxes reached 4,561,995 USD, compared with a net profit after taxes of 8,414,541 USD in the audited data for 2012, a net decrease of 45.8%. Total assets of the company reached 118,007,104 USD as of December 31^st, 2013, compared to total assets of 112,524,140 USD as of December 31^st, 2012, a net increase of 4.9%. Total liabilities of the company reached 38,887,757 USD as of December 31^st, 2013, compared to total liabilities of 31,966,788 USD as of December 31^st, 2012, a net increase of 21.7%. Net ownership equity of the company reached 79,119,347 USD as of December 31^st, 2013, compared with a net ownership equity of 80,557,352 USD as of December 31^st, 2012, a net decrease of 1.8%.