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WASSEL realizes net loss of $3.60 million at the end of 2014

2015-02-16

According to Palestinian Distribution & Logistics Services Company WASSEL’s  consolidated data for year-end preliminary financial statements for year 2014, net loss reached (3,604,156) USD, compared with a net profit after tax reached 13,996 USD in the audited data for 2013. Total assets of the company reached 18,115,751 USD as of December 31^st, 2014, compared to total assets of 17,990,096 USD as of December 31^st, 2013, a net increase of 0.7%. Total liabilities of the company reached 12,879,014 USD as of December 31^st, 2014, compared to total liabilities of 11,287,481 USD as of December 31^st, 2013, a net increase of 14.1%. Net ownership equity of the company reached 5,236,737 USD (including 1,068,989 USD in Non-controlling interest) as of December 31^st, 2014, compared with a net ownership equity of 6,702,615 USD (including 1,453,416 USD in Non-controlling interest) as of December 31^st, 2013, a net decrease of 21.9%. Furthermore, paid-in capital decreased from 9,167,842 USD on December 31^st, 2013 to 9,100,948 USD by December 31^st, 2014, a decrease of 0.7%.