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PEC posts net income of $5.90 million in H1 2020

2020-08-31

According to the financial statements of Palestine Electric Company PEC for the first half of 2020, Net profit after tax of the period reached 5,902,086 USD Compared with Net profit after tax 5,139,077 USD for 2019, a net increase in profit of 14.85%.Total assets of the company reached 107,860,412 USD compared with total assets of 109,777,898 USD at the end of year 2019, a net decrease of 1.75%.Total liabilities of the company reached 14,074,900 USD compared with total liabilities of 12,894,472 USD at the end of year 2019, a net increase of 9.15%. Net ownership equity of the company reached 93,785,512 USD compared with total owner equity of 96,883,426 USD at the end of year 2019, a net decrease of 3.20%.