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PEC posts net income of $5.34 million in H1 2015

2015-08-16

According to Palestine Electric Company PEC’s consolidated  financial statements for the first half of 2015, Net profit after tax of the period reached 5,343,187 USD Compared with Net profit after tax 7,067,078 USD for 2014, a net decrease in profit of 24.39%.Total assets of the company reached 107,178,081 USD compared with total assets of 103,532,855 USD at the end of year 2014, a net increase of 3.52%.Total liabilities of the company reached 23,830,674 USD compared with total liabilities of 25,528,635 USD at the end of year 2014, a net decrease of 6.65%. Net ownership equity of the company reached 83,347,407 USD compared with total owner equity of 78,004,220 USD at the end of year 2014, a net increase of 6.85%.