The Palestine Exchange (PEX) received the unconsolidated reviewed interim condensed financial statements from Dar Al-Shifa Pharmaceuticals Company (PHARMACARE).
PEX disclosure rules give all PEX listed companies 45 days to report their first half interim financial statements as reviewed by their independent external auditor. In addition to this press release, this disclosure was published on the PEX website (www.pex.ps) and emailed to PEX member securities firms.
The disclosed information includes: The Independent Auditors’ Review Report, the Statement of Financial Position, the Statement of Income & Comprehensive Income, Changes in Equity Ownership, the Statement of Cash Flows and Notes to the interim financial statements (23 notes).
The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the Industry Sector.
The interim report also should include information required by Article (38/2) of the PEX disclosure rules in place. The company included information regarding management, issued shares, material changes and significant events that may have affected financial performances during the first half of the year.
According to company data for the first six months of the year, net profit after taxes reached 1,793,398 USD, compared with a net profit after taxes of 1,419,486 USD from the first six months of 2014, a net increase of 26.3%.
Total assets of the company reached 42,549,205 USD as of June 30th, 2015, compared to total assets of 38,737,045 USD as of December 31st, 2014, a net increase of 9.8%. Total liabilities of the company reached 19,804,678 USD as of June 30th, 2015, compared to total liabilities of 17,363,482 USD as of December 31st, 2014, a net increase of 14.1%. Net ownership equity of the company reached 22,744,527 USD as of June 30th, 2015, compared with a net ownership equity of 21,373,563 USD as of December 31st, 2014, a net increase of 6.4% in the last six months.