Palestine Exchange reports listed company Q3 2020 net profits top USD 146 million
Tuesday, 24 November 2020Palestine Exchange Posted
The Palestine Exchange today announced robust performance among its listed companies for Q3 2020. Four out of five of the 96 percent of firms reporting achieved profits. These 35 firms’ after tax profits totalled USD 159.01 million. Nine companies recorded losses amounting to USD 12.94 million. Net profit after tax reached USD 146,070,715 (Profits – Losses) in Q3, a 36.8 percent decline compared to same period in 2019.
Mr. Ahmed Aweidah, CEO of the Palestine Stock Exchange, praised listed company resilience in the face of a global pandemic and exceptionally challenging political and fiscal circumstances. ‘PEX companies and the Palestinian securities sector continue to demonstrate the ability to adapt and grow under just about any variable,’ said Aweidah. ‘Like others around the world, they are transforming business models. I am confident our companies will be in a good position to benefit in a post-pandemic world.’
A detailed table of Q3/2020 disclosures can be found at the PEX website www.pex.ps, or here: http://api.pex.ps/FileManager/Default.aspx?AID=1000&UID=345&WFID=29&DocAction=610&HashCode=2043&PathCode=1&TRID=57910&TID=927
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