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Thirty two (32) of forty eight (48) listed companies on the Palestine Exchange (PEX) achieved profits in 2012

2013-02-19

Mr. Ahmad Aweidah, Chief Executive Officer of the Palestine Exchange (PEX) announced that forty seven (47) out of forty eight (48) listed companies on the PEX (including three suspended companies) disclosed their preliminary financial results for the year 2012. Aweidah valued the commitment of listed companies on the PEX to disclose within the legal period. “The PEX is committed to maintain steady disclosures to ensure exchange stability, investor protection and attraction”, stated Aweidah. This performance reflects transparency and good governance and alleviates the impact of factors such as the current political and economic instability, he added. The preliminary results of 2012 demonstrated that thirty two out of forty seven disclosing companies achieved profits (68.1%), total profits before tax amounted to 248,471,834  million USD. Aweidah expressed his satisfaction with these results and hoped to see an increase in interest corresponding to this positive performance. He also pointed to the attractive valuation of most listed stocks at the moment; thirty two listed stocks are currently trading below their book value.