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PALTEL declares distinguished operating and financial results for the first half of the current year

2009-08-05

Ramallah- Palestine Telecommunications Company announced its operations results for the current year; net consolidated operating income reached JD 197,826 million growing by %42.75 comparing to the same period of the previous year. This rise came due to Bella"s contribution in the results which PALTEL had possessed on last May. Bella"s revenues for the months of May and June contributed by %26.43 from PALTEL"s revenues with an aggregate value of JD 52.285 million, as the net income rose by %47.72 to reach JD 62.347 million comparing to JD 42.206  million at the end of the same period of the previous year. The distinguished results for Bella in addition to the continuous growth in operating indicators had contributed to the clear growth in PALTEL"s net income. PALTEL"s net income reached JD 47.147 million with excluding Bella"s results rising by %11.71 comparing to the first half of 2008. The chairman Mr. Sabieh Al Masri stated that these financial results reflects the positive initials of the partnership between ZAIN and PALTEL, and this merger is the outcome of the mutual vision in which the PNA and the company had asserted on completing with its all rights and duties. Al Masri assured that the published announcement in the newspapers yesterday regarding the issue of PALTEL"s request from the companies" observer to raise the company"s capital came within the mutual vision with the PNA to accomplish all the required procedures in consequent cooperation with all the PNA"s related ministries and institutions. Al Masri intensified on ZAIN"s and PALTEL"s commitment to support the Palestinian economy and the development process in addition to create employment opportunities and connect Palestine to its Arabic depth. He also referred to the CEO of ZAIN Al Barrak"s conation of working with the economic institution in Palestine to translate this partnership.