USD 553 thousand the Semi annual 2018 net profit of Palestine Exchange

Palestine Securities Exchange (PSE) announced its financial results for the first half of the year ending June 30, 2018, which showed a net profit of USD 552,968 an increase of 627% compared to a loss of USD 104,963 in the same period of 2017. Net profit for the second quarter of 2010 was USD 109,119 compared to USD 162,328 in the same period of 2017, a decrease of 33%.

Gross revenue for the first half of 2018 was USD 1,746,789 compared to USD 1,461,327 in the same period of 2017, an increase of 20%. Operational revenues amounted to USD 1,446,493 and other revenues were USD 300,296 respectively.

First half 2018 expenses amounted to USD 1,083,768 compared to USD 1,566,290 during the same period of 2017, a decrease of 31%. Revenues for the second quarter of the year were USD 708,012 compared to USD 750,550 for the second quarter of 2017, and expenses for the same period were USD 565,590 compared to USD 588,222 in the second quarter of 2017.

Trading Value in the first half of 2018 increased by 47% compared to the same period in 2017 and reached USD 243 million. Trading commissions is the main source of income for the company.

Ahmed Aweidah, CEO of PEX, said: “During the first half 2018 we continued our aggressive approach towards creating a modern and competitive financial market.