Profits of Listed Companies on the Palestine Exchange Reached USD 293mn in 2019

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Profits of Listed Companies on the Palestine Exchange Reached USD 293mn in 2019

The annual results disclosure period ended on the Palestine Exchange (PEX) after being extended by the Palestine Capital Authority due to Covid-19 pandemic outbreak, 90% of listed companies were able to disclose within the set deadline, 86% were profitable in 2019.

Final results of 2019 shows that net profit amounted to USD 293,159,134 a decline of 0.74% in comparison to 2018. Results also show that the thirty-seven companies achieved profits of USD 306,225,234 a growth of 1.12%, while the net loss of the other six companies was USD 13,066,099 an increase of 74% in comparison to 2018. Five companies failed to disclose their annual results.

Ahmad Aweidah, CEO of the PEX expressed his satisfaction. He said: “2019 final results are close to preliminary results and we are still waiting the remaining companies to disclose their results. This is a clear message of the ability of our listed companies to continue to generate profits and to maintain growth year after year in spite of the exceptional economic and political conditions”. He expressed his hope for 2020 to hold the best for the securities sector and the national economy in spite of the Covid -19 pandemic effects.

To view a detailed table of 2019 disclosures, please visit:

http://api.pex.ps/FileManager/Default.aspx?AID=1000&UID=345&WFID=29&DocAction=610&HashCode=1579&PathCode=1&TRID=51631&TID=927

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