Thirty four (33) of forty seven (47) listed companies on the Palestine Exchange (PEX) achieved profits in the first quarter of 2012

Mr. Ahmad Aweidah, Chief Executive Officer of the Palestine Exchange (PEX) announced that all listed companies on the PEX disclosed their preliminary financial results for the first quarter 2012.

The results demonstrated that thirty three (33) out of forty seven (47) listed companies achieved profits (70.2%), total profits before tax exceeded 80 million USD whereas fourteen (14) companies realized losses of about 8.9 million USD.

Aweidah pointed out that 45 listed companies disclosed their financial results within the legal period while 2 missed the disclosure deadline by one day only. Aweidah praised this commitment of listed companies and their constant evolution towards a culture of timely disclosure and transparency who form the backbone of an enabling investment environment