Palestine Exchange Listed companies’ Profits Reached USD 77 Million in the First Half of 2020

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Palestine Exchange Listed companies’ Profits Reached USD 77 Million in the First Half of 2020

Covid-19 impact on the performance of PEX listed companies was clear in the First half-financial results, which showed that aggregated net profits amounted to USD 77,461,351 a decline of 53% compared with the same period of 2019.

Thirty-one of forty-eight listed companies achieved a net profit of USD 85,735,417 a decline of 49% comparing to the same period in 2019, the eleven-loss making companies recorded a total loss of USD 8,274,066, an increase of 138% comparing to last year. Six companies failed to disclose within the set deadline, which was extended by the regulator to August 31.

Mr. Ahmad Aweidah, CEO of PEX said, our local economy was impacted by Covid-19 just like other regional and global economies. He added that the drop in listed companies’ profits was within expectations and expressed his hope for better results by the time the economy starts to recover from the pandemic.

To view detailed table of H1/2020 disclosures, please visit PEX website www.pex.ps, or click the link: http://api.pex.ps/FileManager/Default.aspx?AID=1000&UID=345&WFID=29&DocAction=610&HashCode=1870&PathCode=1&TRID=55540&TID=927

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