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PEC realizes net loss of $0.65 million at the end of 2016

2017-02-12

According to the financial statements of Palestine Electric Company PEC for the year 2016, Net Loss after tax of the period reached (648,817) USD Compared with Net profit after tax 13,648,366 USD for 2015.Total assets of the company reached 99,904,886 USD compared with total assets of 106,887,296 USD at the end of year 2015, a net decrease of 6.53%.Total liabilities of the company reached 14,901,117 USD compared with total liabilities of 15,234,710 USD at the end of year 2015, a net decrease of 2.18%. Net ownership equity of the company reached 85,003,769 USD compared with total owner equity of 91,652,586 USD at the end of year 2015, a net decrease of 7.25%.