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PEC reports net income of $7.07 million in H1 2014

2014-08-25

According to Palestine Electric Company PEC’s data for the first six months of the year, net profit after taxes reached 7,067,078 USD, compared with a net profit after taxes of 4,896,219 USD from the first six months of 2013, a net increase of 44.3%. Total assets of the company reached 111,454,957 USD as of June 30th, 2014, compared to total assets of 118,007,104 USD as of December 31st, 2013, a net decrease of 5.6%. Total liabilities of the company reached 28,268,532 USD as of June 30th, 2014, compared to total liabilities of 38,887,757 USD as of December 31st, 2013, a net decrease of 27.3%. Net ownership equity of the company reached 83,186,425 USD as of June 30th, 2014, compared with net ownership equity of 79,119,347 USD as of December 31st, 2013, a net increase of 5.1% in the last six months.