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PEC posts net income of $9.38 million in 2020

2021-02-16

According to the financial statements of Palestine Electric Company PEC for the year 2020, Net profit after tax of the period reached 9,379,690 USD Compared with Net profit after tax 12,450,448 USD for 2019, a net decrease in profit of 24.66%.Total assets of the company reached 110,611,580 USD compared with total assets of 109,777,898 USD at the end of year 2019, a net increase of 0.76%.Total liabilities of the company reached 13,348,464 USD compared with total liabilities of 12,894,472 USD at the end of year 2019, a net increase of 3.52%. Net ownership equity of the company reached 97,263,116 USD compared with total owner equity of 96,883,426 USD at the end of year 2019, a net increase of 0.39%.