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PICO realizes net loss of $1.29 million at the end of 2018

2019-02-17

According to the financial statements of Palestine Insurance PICO for the year 2018, Net Loss after tax of the period reached (1,291,323) USD Compared with Net profit after tax 3,438,332 USD for 2017.Total assets of the company reached 38,435,970 USD compared with total assets of 39,229,103 USD at the end of year 2017, a net decrease of 2.02%.Total liabilities of the company reached 30,100,223 USD compared with total liabilities of 25,890,596 USD at the end of year 2017, a net increase of 16.25%. Net ownership equity of the company reached 8,335,747 USD compared with total owner equity of 13,338,507 USD at the end of year 2017, a net decrease of 37.51%.Noting that paid-in capital increased from 6,000,000 USD in year 2017 to 7,200,000 USD of this year,a net increase of 20.00%.