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APIC posts net income of $11.21 million at the end of 2014

2015-02-15

According to the Arab Palestinian Investment Company APIC’s data for year-end preliminary financial statements for year 2014, net profit after tax reached 11,210,661 USD, compared with a net profit after tax of 10,980,695 USD in the audited data for 2013, a net increase of 2.1%. Total assets of the company reached 252,090,672 USD as of December 31st , 2014, compared to total assets of 237,212,264 USD as of December 31st, 2013, a net increase of 6.3%. Total liabilities of the company reached 146,117,842 USD as of December 31st , 2014, compared to total liabilities of 143,939,432 USD as of December 31st, 2013, a net increase of 1.5%. Net ownership equity of the company reached 105,972,830 USD (including 28,424,290 USD in Non-controlling interest) as of December 31st , 2014, compared with a net ownership equity of 93,272,832 USD (including 23,302,019 USD in Non-controlling interest) as of December 31st , 2013, a net increase of 13.6%. Furthermore, paid-in capital increased from 50,009,398 USD on December 31st , 2013 to 60,000,000 USD by December 31st , 2014, an increase of 20.0%.