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PEC posts net income of $8.64 million at the end of 2017

2018-02-15

According to the financial statements of Palestine Electric PEC for the year 2017, Net profit after tax of the period reached 8,642,228 USD Compared with Net Loss after tax (648,817) USD for 2016.Total assets of the company reached 99,924,271 USD compared with total assets of 99,904,886 USD at the end of year 2016, a net increase of 0.02%.Total liabilities of the company reached 12,278,274 USD compared with total liabilities of 14,901,117 USD at the end of year 2016, a net decrease of 17.60%. Net ownership equity of the company reached 87,645,997 USD compared with total owner equity of 85,003,769 USD at the end of year 2016, a net increase of 3.11%.