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PEC records net income of $3.18 million in Q1 2014

2014-04-22

According to Palestine Electric Company PEC data for the first three months of the year, net profit reached 3,177,996 USD, compared with a net profit of 3,313,210 USD from the first three months of 2013, a net decrease of 4.1%. Total assets of the company reached 109,771,475 USD as of March 31^st, 2014, compared to total assets of 118,007,104 USD as of December 31^st, 2013, a net decrease of 7.0%. Total liabilities of the company reached 27,474,132 USD as of March 31^st, 2014, compared to total liabilities of 38,887,757 USD as of December 31^st, 2013, a net decrease of 29.4%. Net ownership equity of the company reached 82,297,343 USD as of March 31^st, 2014, compared with a net ownership equity of 79,119,347 USD as of December 31^st, 2013, a net increase of 4.0% in the first three months.