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PEC records net income of $14.13 million in 9M 2016


According to the financial statements of Palestine Electric Company PEC for the first nine months of 2016, Net profit after tax of the period reached 14,131,710 USD Compared with Net profit after tax 9,867,168 USD for 2015, a net increase in profit of 43.22%.Total assets of the company reached 119,574,230 USD compared with total assets of 106,887,296 USD at the end of year 2015, a net increase of 11.87%.Total liabilities of the company reached 19,789,934 USD compared with total liabilities of 15,234,710 USD at the end of year 2015, a net increase of 29.90%. Net ownership equity of the company reached 99,784,296 USD compared with total owner equity of 91,652,586 USD at the end of year 2015, a net increase of 8.87%.


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