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PEC records net income of $4.05 million at the end of the first quarter 2018

2018-04-16

According to the financial statements of Palestine Electric for the first  Quarter of 2018, Net profit after tax of the period reached 4,050,976 USD Compared with Net profit after tax 3,606,618 USD for 2017, a net increase in profit of 12.32%.Total assets of the company reached 103,981,563 USD compared with total assets of 99,924,271 USD at the end of year 2017, a net increase of 4.06%.Total liabilities of the company reached 18,284,590 USD compared with total liabilities of 12,278,274 USD at the end of year 2017, a net increase of 48.91%. Net ownership equity of the company reached 85,696,973 USD compared with total owner equity of 87,645,997 USD at the end of year 2017, a net decrease of 2.22%.