Saturday 17 November 2018
 
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APIC posts net profit of $8m for H1

RAMALLAH, Palestine, August 16, 2018

Arab Palestinian Investment Company, a public shareholding investment company has achieved net profits after tax of $8.04 million in the first half of 2018, a growth of 2.14 per cent year on year.

Net profits attributed to APIC shareholders amounted to $5.67 million in the first half of 2018, a growth of 8.38 per cent year on year. Revenues grew by 7.07 per cent compared to the same period in 2017, and amounted to $346.86 million in the first half of 2018.

APIC increased its authorized capital to $100 million and its paid-up capital to $75 million  

Tarek Aggad Aggad, chairman and CEO of APIC said that the company’s authorized capital was increased to reach $100 million. APIC's registered and paid-up capital was also increased, reaching $75 million, by distributing five million bonus shares to its shareholders, 7.14 per cent at par. APIC also distributed $5 million as cash dividends, 7.14 per cent at par.

Accordingly, total dividend payout amounted to $10 million, 14.28 per cent at par. APIC's share closed at $2.30 by the end of the August 14, trading session, while its market capitalization amounted to $172.5 million, representing 4.6 per cent of the Palestine Exchange's total market capitalization to date. – TradeArabia News Service




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