Mubasher: Palestine Electric Co reported an increase of 12.3% in net profits for the second quarter of 2016.

The company’s profits climbed to $3.94 million in Q2-2016, from $3.51 million for the same period of the previous year.

As for the first half of 2016, the company posted net profits of $8.38 million with growth of 56.9% from $5.34 million a year earlier.

The company’s net operating income also grew by 56.1% in H1-2016 as it reached EGP 8.57 million compared with EGP 5.49 million a year earlier.