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Dar Al-Shifa net profit loses 25.9% in 9M

Dar Al-Shifa net profit loses 25.9% in 9M
Dar Al Shifa
PHARMACARE
4.69% 3.35 0.15
Dar Al-Shifa Pharmaceuticals Company announced its unaudited interim consolidated condensed financial results to the Palestine Exchange (PEX).

According to Dar Al-Shifa data for the nine-month period ending September 30, 2014, net profit after taxes amounted to $1.21 million, compared to $1.64 million during the same period a year earlier, dropping 25.9%.

The Company’s total assets stood at $41.61 million as at September 30, 2014, compared to $39.16 million as at December 31, 2013, adding 6.3%. Total liabilities reached $19.77 million during the first months of 2014, against $18.29 million as at December 31, 2013, registering an increase of 8.1%.

Net ownership equity amounted to $21.84 million as at September 30, 2014, compared to $20.87 million as at December 31, 2013, gaining 4.7% in the first nine months.

Worth noting, Dar Al-Shifa did not manage to disclose its third quarter results within the statutory period ended on November 2, 2014. The Company announced posted its results to PEX on November 16, 2014.