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PADICO posts net income of $20.01 million at the end of 2014

2015-02-16

According to Palestine Development & Investment Company PADICO’s consolidated data for year-end preliminary financial statements for year 2014, net profit after tax reached 20,010,000 USD, compared with a net profit after tax of 25,335,000 USD in the audited data for 2013, a net decrease of 21.0%. Total assets of the company reached 838,045,000 USD as of December 31^st, 2014, compared to total assets of 808,673,000 USD as of December 31^st, 2013, a net increase of 3.6%. Total liabilities of the company reached 302,059,000 USD as of December 31^st, 2014, compared to total liabilities of 288,106,000 USD as of December 31^st, 2013, a net increase of 4.8%. Net ownership equity of the company reached 535,986,000 USD (including 101,166,000 USD in Non-controlling interest) as of December 31^st, 2014, compared with a net ownership equity of 520,567,000 USD (including 101,723,000 USD in Non-controlling interest) as of December 31^st, 2013, a net increase of 3.0%. All figures in the financial statements appeared in thousands of USD.