send to a friend by email

Palestine telecommunications disclose its financial results for the first half of 2009

2009-08-03

Palestine securities exchange received the revised consolidated financial statements for PALTEL"s as of 30/06/2009. The applicable disclosing system gives every listed company a period of 45 days to announce their results for the second quarter for the current year. The disclosure had been through preparing the semiannual report that is attached with the standard unified electronic disclosure form for the services sector, and had been published on the PSE website www.p-s-e.com in parallel with issuing this press release; also the financial statements had been allocated to the brokerage members for the investors to read. PALTEL had disclosed their results on Thursday 30/07/2009, but had not been published in time due to the capital market authority request to be discussed with PALTEL. On 2/8/2009 the CMA directed to PALTEL a conservative memo on preparing the consolidated financial statements because they had included the financial results of Bella Jordan while the necessary legal procedures for PALTEL"s possessing to Bella had not been completed. PALTEL is considered the third listed company that discloses its semiannual financials despite its early disclosure. The PSE published the company"s statements as received on 30/07/2009 with the conservative reply of the CMA. PALTEL"s results indicated a remarkable growth in the company"s assets and shareholder"s equity within including Bella"s results.