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Palestine’s UCI net profit jumps 92.5% in 9M

Palestine’s UCI net profit jumps 92.5% in 9M
UCI
UCI
-2.04% 0.48 -0.01
Palestine’s Union Construction and Investment Company (UCI) posted its unaudited interim consolidated condensed financial statements to the Palestine Exchange (PEX). According to UCI data for the first nine months of 2014, net profit after taxes amounted to $572.31 THD, surging to 92.5% against a net profit after taxes of $297.23 THD for the first nine months of 2013.
UCI’s net ownership equity of the company amounted to $40.19 million (including $125,13 THD in non-controlling interest) as on September 30, 2014, compared to $39,65 million (including $156,55 THD in non-controlling interest) as on December 31, 2013, recording a rise by 1.3% in the first nine months.

Total assets of the company stood at $41.49 million as on September 30, 2014, compared to $41.18 million as on December 31, 2013, inching up by 0.8%. UCI’s total liabilities reached $1.30 million by September 30, 2014, compared to $1.52 million as on December 31, 2013, a net decrease of 14.4%.
It is worth noting that UCI is the first company within the Investment Sector to disclose its interim financial statements for third quarter of 2014.