send to a friend by email

Press release by the PSE: AHC's disclosure of preliminary financials of 2007

2008-02-03

Palestine securities exchange received the preliminary revised financial statements from the internal auditors of Arab Hotels Company, as of December 31, 2007. This disclosure came within the applied disclosures system, which grants every listed company a month and a half as utmost period for disclosing the preliminary financial results of 2007.It is revealed by the in formations presented by the AHC that, it had been disclosed using the electronic reporting standard, and a signed paper copy of the external audited preliminary financials was sent to be verified from the board of directors parallel with another copy that had been sent to the CMA and PSE. Also the annual report of the AHC will be published after the auditing and convening the general assembly meeting that will be held in April. This preliminary financials were published on the PSE website as soon as it released by the AHC. Also AHC is considered the first listed company in services sector that disclosed its financials completely and according to the common basis. AHC"s financial results pointed out to gross income of 6,652 JD to the year 2007 versus a loss of 304,541 JD in 2006. Total assets amounted 20,249,472 JD in 2007 after amounting 19,277,844 JD in the year 2006. It is also noticed that the total liabilities had soared to amount 1,266,651 JD versus 465,087 JD in the same period of 2006. Shareholders" equity raised in 2007 to 18,982,821 JD  after it had amounted 18,812,757 JD in 2006.