Thursday 19 September 2019
 
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APIC reports net profits of $10.2m in H1

UAE, 29 days ago

Arab Palestinian Investment Company (APIC) has reported net profits after tax of $10.2 million in the first half of 2019, a growth of 26.7 per cent year on year.

APIC is a foreign public shareholding investment holding company listed on the Palestine Exchange.

Tarek Aggad, chairman and CEO of APIC, announced that the group revealed that net profits attributed to APIC shareholders amounted to $8.3 million in the first half of 2019, a growth of 46.4 per cent year on year.

Revenues grew by 12.8 per cent compared to the same period in 2018, and amounted to $391.4 million in the first half of 2019.
 
Aggad added that APIC increased its paid-in capital to reach $87.5 million by distributing 5.5 million in bonus shares to its shareholders, representing 6.7 per cent at par.

APIC also distributed $5 million as cash dividends, representing 6.1 per cent at par. Accordingly, total dividend payout amounted to $10.5 million, representing 12.8 per cent. – TradeArabia News Service




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