send to a friend by email

Press release by the PSE: PALTEL's disclosure of preliminary financials of 2007.

2008-02-13

Palestine securities exchange received the preliminary revised financial statements from the external auditors of Palestine Telecommunications Company, as of December 31, 2007. This disclosure came within the applied disclosures system, which grants every listed company a month and a half as utmost period for disclosing the preliminary financial results of 2007. It is revealed by the in formations presented by the PALTEL that, it had been disclosed using the electronic reporting standard, and a signed paper copy of the external audited preliminary financials in English language was sent to be verified from the board of directors parallel with another copy that had been sent to the CMA and PSE. Also the annual report of the PALTEL will be published in March 25, 2008 as maximum date. As for the general assembly meeting, it will be also held in April 12, 2008 to discuss these financial results. This preliminary financials were published on the PSE website as soon as it released by the PALTEL. PALTEL"s financial results pointed out to net income of 65,525,778 JD to the year 2007 versus 56,161,562 JD in 2006. Total assets amounted 421,593,548 JD in 2007 after amounting 377,267,315 JD in the year 2006. It is also noticed that the total liabilities had soared to amount 144,266,759 JD versus 139,064,607 JD in the same period of 2006. Shareholders" equity raised in 2007 to 277,326,789 JD after it had amounted 238,202,708 JD in 2006.