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Palestine development & investment discloses its semiannual financial results for 2008

PSE received the consolidated audited financial statements as of 30/06/2008 for PADICO.  The regulations grant the listed companies a period of a month and a half to disclose the financial results for the second quarter of the year. It had been disclosed through semiannual financial reports in addition to the standard electronic disclosing form for the investment sector. The results had been published on the PSE website in parallel with this press release, also had been distributed to the brokerage members. PADICO is considered the fourth listed company that discloses the financial results in the market, and the first one on the investment sector. The semiannual results indicate a net income of $23,510,000 versus $19,965,000 in the first half of 2007, as for total assets it reached $501,901,000 after it had amounted $455,699,000 in 31/12/2007. Total liabilities reached $124,463,000 in the first half of 2008 versus $105,132,000 as in 31/12/2007. Shareholders" equity increased from $350,567,000 at the end of last year to reach $377,438,000 as of 30/06/2008. In a press release from Mr. Munib Al Masri , he pointed out to a growth rate of %18 in net income in addition to rise of %24 in revenues and %55 in operating income


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