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ARE realizes net loss of JD0.16 million at the end of 2014

2015-03-01

According to the Arab Real Estate Establishment Company ARE’s data for year-end preliminary financial statements for year 2014, net loss reached (160,329) JOD, compared with a net loss of (321,755) JOD in the audited data for 2013, a net decrease in loss of 50.2%.  Total assets of the company reached 2,438,121 JOD as of December 31^st, 2014, compared to total assets of 2,883,745 JOD as of December 31^st, 2013, a net decrease of 15.5%. Total liabilities of the company reached 1,900,745 JOD as of December 31^st, 2014, compared to total liabilities of 2,173,320 JOD as of December 31^st, 2013, a net decrease of 12.5%. Net ownership equity of the company reached 537,376 JOD as of December 31^st, 2014, compared with a net ownership equity of 710,425 JOD as of December 31^st, 2013, a net decrease of 24.4%. ARE failed to disclose its year-end preliminary financials within the statutory period ended on February 16^th, 2015. PEX received ARE disclosure on February 26th, 2015.