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PEC reports net income of $2.85 million in Q1 2020

2020-05-10

According to the financial statements of Palestine Electric Company PEC for the 1st Quarter of 2020, Net profit after tax of the period reached 2,845,679 USD Compared with Net profit after tax 2,662,513 USD for 2019, a net increase in profit of 6.88%.Total assets of the company reached 112,577,657 USD compared with total assets of 109,777,898 USD at the end of year 2019, a net increase of 2.55%.Total liabilities of the company reached 12,851,536 USD compared with total liabilities of 12,894,472 USD at the end of year 2019, a net decrease of 0.33%. Net ownership equity of the company reached 99,726,121 USD compared with total owner equity of 96,883,426 USD at the end of year 2019, a net increase of 2.93%.