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PADICO posts net income of $16.57 million in 9M 2014

2014-11-04

According to Palestine Development and Investment Company PADICO’s data for the first nine months of the year, net profit after taxes reached 16,567,000 USD, compared with a net profit after taxes of 22,359,000 USD from the first nine months of 2013, a net decrease of 25.9%. Total assets of the company reached 820,471,000 USD as of September 30^th, 2014, compared to total assets of 808,673,000 USD as of December 31^st, 2013, a net increase of 1.5%. Total liabilities of the company reached 293,654,000 USD as of September 30^th, 2014, compared to total liabilities of 288,106,000 USD as of December 31^st, 2013, a net increase of 1.9%. Net ownership equity of the company reached 526,817,000 USD (including 99,309,000 USD in Non-controlling interest) as of September 30^th, 2014, compared with a net ownership equity of 520,567,000 USD (including 101,723,000 USD in Non-controlling interest) as of December 31^st, 2013, a net increase of 1.2% in the first nine months. All figures in the financial statements appeared in thousands of USD.