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WASSEL realizes net loss of $0.84 million in 9M 2014

2014-11-02

According to Palestinian Distribution & Logistics Services Company WASSEL’s consolidated data for the first nine months of the year, net loss reached (839,092) USD, compared with a net profit after taxes of 38,520 USD from the first nine months of 2013. Total assets of the company reached 17,368,744 USD as of September 30th, 2014, compared to total assets of 17,791,110 USD as of December 31st, 2013, a net decrease of 2.4%. Total liabilities of the company reached 11,780,918 USD as of September 30th, 2014, compared to total liabilities of 11,088,494 USD as of December 31st, 2013, a net increase of 6.2%. Net ownership equity of the company reached 5,587,826 USD (including 1,439,655 USD in Non-controlling interest) as of September 30th, 2014, compared with a net ownership equity of 6,702,616 USD (including 1,453,416 USD in Non-controlling interest) as of December 31st, 2013, a net decrease of 16.6% in the first nine months. Furthermore, paid-in capital decreased from 9,167,842 USD on December 31st, 2013 to 6,500,000 USD by September 30th, 2014, a decrease of 29.1%. WASSEL has been suspended from trading since August 6th, 2014 after the decision of the Company"s Extraordinary Assembly of decreasing the company"s capital on August 5th, 2014.

 

 


 

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