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Auditors reveal reservations towards a number of companies' reports... Financial disclosures... received by the PSE

2009-08-10

Nablus- Palestine securities exchange received the semiannual financial results as of 30/06/2009 the following companies: 

The Palestinian Company for Distribution & Logistics Services: The disclosure was through preparing a semiannual report attached with the unified standard disclosing forms for the services sector. The Palestinian Company for Distribution & Logistics Services is considered the fourth to disclose its results, the semiannual financial results included: (a revision report for the semiannual financial statements) signed by the external auditors, the balance sheet, the comprehensive income statement, cash flows statement, in addition to disclosures about the statements. The company"s results indicated an after tax income of JD 533.807 comparing to JD 842.532 in the first half of the year 2008. As for the company"s total assets on 30/06/2009 they reached JD 11.333.504 after they were JD 10.738.150 on 31/12/2008. Total liabilities reached JD 4.901.077 after they were JD 4.867.562 on 31/12/2008. Shareholders" equity rose from JD 5.864.468 on 31/12/2008 to reach JD 6.425.691 as of 30/06/2009. Palestine Poultry Company: The Palestinian Company for Distribution & Logistics Services: The disclosure was through preparing a semiannual report attached with the unified standard disclosing forms for the industry sector. Palestine Poultry Company is considered the fifth to disclose its results, the semiannual financial results included: (a revision report for the semiannual financial statements) signed by the external auditors, the balance sheet, the comprehensive income statement, cash flows statement, retained earnings statement, in addition to disclosures about the statements. The company"s results indicated an after tax income of JD 946.509 comparing to JD 587.700 in the first half of the year 2008. As for the company"s total assets on 30/06/2009 they reached JD 16.565.430 after they were JD 16.267.402 on 31/12/2008. Total liabilities reached JD 3.027.272 after they were JD 3.807.328 on 31/12/2008. Shareholders" equity rose from JD 12.460.074 on 31/12/2008 to reach JD 13.538.158 as of 30/06/2009. Arab Industrial Painting Company: The disclosure was through preparing a semiannual report attached with the unified standard disclosing forms for the investment sector. Arab Industrial Painting Company is considered the first within the investment sector to disclose its results, the semiannual financial results included: (a revision report for the semiannual financial statements) signed by the external auditors, the balance sheet, the comprehensive income statement, cash flows statement, in addition to disclosures about the statements. The company"s results indicated an after tax income of JD 73.116 comparing to JD 297.149 in the first half of the year 2008. As for the company"s total assets on 30/06/2009 they reached JD 2.494.184 after they were JD 2.488.405 on 31/12/2008. Total liabilities reached JD 748.689 after they were JD 576.026 on 31/12/2008. Shareholders" equity dropped from JD 1.912.379 on 31/12/2008 to reach JD 1.745.459 as of 30/06/2009.