JERUSALEM PHARMACEUTICALS(JPH) disclosed its financial statements for the third quarter of the year 2019.
| Disclosure Year | 2019 | 2018 | ||
| Disclosure Period | End of 3009 | End of 3009 | ||
| Disclosure Start Date | 01/01/2019 | 01/01/2018 | ||
| Disclosure End Date | 29/09/2019 | 29/09/2018 | ||
| Disclosure Type | Financial Disclosure | Financial Disclosure | ||
| Company Name | JERUSALEM PHARMACEUTICALS | JERUSALEM PHARMACEUTICALS | ||
| Company Symbol | JPH | JPH | ||
| Sector | Industry Sector | Industry Sector | ||
| Currency | USD | USD | ||
| End date of legal disclosure period | 31/10/2019 | 31/10/2018 | ||
| Actual Disclosure Date | 31/10/2019 05:28:00 PM | 31/10/2018 12:15:00 PM | ||
| Hard Copy Disclosure | ||||
| Consolidation Status | Consolidated | Consolidated | ||
| Notes Display Source | Note ID Only | Note ID Only | ||
| Auditing Status | Unaudited | Unaudited | ||
| Net income in Cash Flow Statement | Income After Tax | Income Before Tax |
The attached notes form part of these financial statements
| - | 2019 | 2018 | ||
| - | USD | USD | ||
| - | As a 29/09/2019 | As a 31/12/2018 | ||
| Note | Unaudited | Audited | ||
| Property, plant and equipment | 21,996,008 | 21,186,018 | ||
| Intangible assets | 2,651,815 | 2,725,194 | ||
| Right Of Use Assets - Long Term | 1,161,725 | - | ||
| Investment in associates | 833,709 | 732,628 | ||
| Property Investments | 329,674 | 304,566 | ||
| Financial assets at fair value through other comprehensive income | 594,487 | 735,287 | ||
| Differed Tax Assets | 146,288 | 140,461 | ||
| Total Fixed Assets | 27,713,706 | 25,824,154 | ||
| Inventory | 14,346,783 | 14,407,242 | ||
| Accounts Receivable | 19,935,197 | 17,183,822 | ||
| Other Current Assets | 2,770,270 | 3,330,969 | ||
| Held for trading financial assets through profit and loss | 19,556 | 19,264 | ||
| Cash and cash equivalents | 2,337,304 | 2,438,233 | ||
| Total Current Assets | 39,409,110 | 37,379,530 | ||
| Total assets | 67,122,816 | 63,203,684 | ||
| Paid-in Capital | 18,000,000 | 18,000,000 | ||
| Additional paid-in capital (Share premium) | 3,719,138 | 3,719,138 | ||
| Statutory reserve | 4,815,708 | 4,815,708 | ||
| voluntary reserve | 1,367,966 | 1,367,966 | ||
| Change in fair value of financial assets | 4,800,343 | 4,941,143 | ||
| Foreign currency translation differences | (65,356) | 88,810 | ||
| Retained earnings | 16,816,926 | 15,609,854 | ||
| Equity attributable to equity holders of the parent | 49,454,725 | 48,542,619 | ||
| Non-controlling interests | 2,569,141 | 2,977,441 | ||
| Total Owners' Equity | 52,023,866 | 51,520,060 | ||
| Long Term Liab | 628,887 | - | ||
| Long term loans | 0 | 414,235 | ||
| Provision for employees' indemnity | 3,792,162 | 3,329,982 | ||
| Total non-current liabilities | 4,421,049 | 3,744,217 | ||
| Accounts Payable | 4,092,791 | 4,180,512 | ||
| Current liab of Rent contracts | 310,873 | - | ||
| Short term loans | 4,562,778 | 1,320,386 | ||
| Other current liabilities | 1,568,702 | 2,237,009 | ||
| Income Tax Provision | 142,757 | 201,500 | ||
| Total Current Liabilities | 10,677,901 | 7,939,407 | ||
| Total Liabilities | 15,098,950 | 11,683,624 | ||
| Total Liabilities & Owners' Equity | 67,122,816 | 63,203,684 |
| - | 2019 | 2018 | ||
| - | USD | USD | ||
| - | End of 30092019 | End of 30092018 | ||
| Note | Unaudited | Unaudited | ||
| Sales | 27,553,809 | 25,489,218 | ||
| Discounts and returns | (3,021,742) | (2,505,346) | ||
| Cost of Goods Sold | (12,944,172) | (11,527,908) | ||
| Selling and Distribution Expenses | (4,165,194) | (3,844,766) | ||
| General and administrative expenses | (3,157,169) | (2,346,521) | ||
| Research & Development expenses | (844,195) | (601,917) | ||
| Cost of obsolete goods | (6,624) | (15,444) | ||
| Allowance of obsolete inventory | (75,000) | (75,000) | ||
| Projects Cost | (745,188) | (568,143) | ||
| Share of results of Associates | 101,080 | 30,296 | ||
| Finance Expenses | (126,161) | (54,663) | ||
| Other revenues (expenses) | 187,801 | 216,435 | ||
| Net Income before tax | 2,757,245 | 4,196,241 | ||
| Net Income after tax | 2,757,245 | 4,196,241 | ||
| Basic and diluted earnings (loss) per share | 0.167 | 0.234 | ||
| Change in fair value of available-for-sale-financial assets through other comprehensive income | (140,800) | (57,600) | ||
| Foreign currency translation differences | (312,639) | (1,305,700) | ||
| Net Comprehensive Income | 2,303,806 | 2,832,941 |
| - | Paid-in Capital | Additional Paid in capital | Statutory Reserve | Voluntary Reserve | Accumulated Change in Fair Value | Change in Translation Difference | Retained Earnings | Owners' Equity | Non-controlling interests | Total Owners' Equity | |
| Note | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | |
| 2019 | - | - | - | - | - | - | - | - | - | - | - |
|
Balance - Beginning of the period
|
18,000,000 | 3,719,138 | 4,815,708 | 1,367,966 | 4,941,143 | 88,810 | 15,609,854 | 48,542,619 | 2,977,441 | 51,520,060 | |
|
Net profit or (loss) for the period after tax
|
- | - | - | - | - | - | 3,007,072 | 3,007,072 | (249,827) | 2,757,245 | |
|
Other Comprehensive Income
|
- | - | - | - | (140,800) | (154,166) | - | (294,966) | (158,473) | (453,439) | |
|
Total Comprehensive Income for the Period
|
0 | 0 | 0 | 0 | (140,800) | (154,166) | 3,007,072 | 2,712,106 | (408,300) | 2,303,806 | |
|
Cash Dividends Paid
|
- | - | - | - | - | - | (1,800,000) | (1,800,000) | - | (1,800,000) | |
|
Balance - End of the period
|
18,000,000 | 3,719,138 | 4,815,708 | 1,367,966 | 4,800,343 | (65,356) | 16,816,926 | 49,454,725 | 2,569,141 | 52,023,866 | |
| 2018 | - | - | - | - | - | - | - | - | - | - | - |
| Balance - Beginning of the period | 18,000,000 | 3,719,138 | 4,815,708 | 1,367,966 | 5,003,483 | 2,956,082 | 12,674,550 | 48,536,927 | 851,077 | 49,388,004 | |
| Net profit or (loss) for the period after tax | - | - | - | - | - | - | 4,209,659 | 4,209,659 | (13,418) | 4,196,241 | |
| Other Comprehensive Income | - | - | - | - | (57,600) | (1,303,736) | - | (1,361,336) | (1,964) | (1,363,300) | |
| Total Comprehensive Income for the Period | 0 | 0 | 0 | 0 | (57,600) | (1,303,736) | 4,209,659 | 2,848,323 | (15,382) | 2,832,941 | |
| Effect of change in accounting policy for IFRS 9 | - | - | - | - | - | - | (1,389,340) | (1,389,340) | - | (1,389,340) | |
| Cash Dividends Paid | - | - | - | - | - | - | (1,800,000) | (1,800,000) | - | (1,800,000) | |
| Balance - End of the period | 18,000,000 | 3,719,138 | 4,815,708 | 1,367,966 | 4,945,883 | 1,652,346 | 13,694,869 | 48,195,910 | 835,695 | 49,031,605 |
| - | 2019 | 2018 | ||
| - | USD | USD | ||
| - | End of 30092019 | End of 30092018 | ||
| Note | Unaudited | Unaudited | ||
| Net Income before/after tax | 2,757,245 | 4,196,241 | ||
| Depreciation and Amortization expense | 974,487 | 1,119,905 | ||
| Change in fair value of held for trading assets through profit or loss | (292) | (626) | ||
| Amortization of Intangible Assets | 140,553 | 62,942 | ||
| Depreciation of the right to use | 207,188 | - | ||
| Share of results of Associates | (101,080) | (30,296) | ||
| Change in end of service allowance payments | 382,034 | 342,085 | ||
| Allowance of obsolete inventory | 81,624 | 75,000 | ||
| Finance Expenses | 126,161 | 57,551 | ||
| Other non-cash items | - | (1,389,340) | ||
| Change in Accounts Receivable | (2,751,375) | 1,113,806 | ||
| Change in inventory | (14,541) | (399,760) | ||
| Change in Other Current Assets | 560,699 | (491,743) | ||
| Change in Accounts Payable | (87,721) | 10,077 | ||
| Change in Other Current Liabilities | (668,306) | (491,743) | ||
| Income tax paid | 0 | (119,640) | ||
| Employees' indemnity paid | (159,586) | (121,956) | ||
| Net Cash Flow from Operating Activities | 1,447,090 | 3,932,503 | ||
| Purchase of Property, Plant and Equipment | (1,243,988) | (559,401) | ||
| Purchase of intangible assets | 0 | (194,823) | ||
| Net Cash Flow from Investing Activities | (1,243,988) | (754,224) | ||
| Cash dividend paid | (1,569,886) | (1,672,968) | ||
| Long term loans | 3,242,392 | 699,747 | ||
| Settlements of long term loans payable and Credit Facilities | (326,262) | (621,424) | ||
| Lease Payments | (190,702) | - | ||
| Finance Expenses paid | (126,161) | (57,551) | ||
| Net Cash Flow from Financing Activities | 1,029,381 | (1,652,196) | ||
| Net change in cash and cash equivalents | 1,232,483 | 1,526,083 | ||
| Foreign currency translation differences | (1,333,412) | (2,207,582) | ||
| Cash and cash equivalents, beginning of Period | 2,438,233 | 3,442,353 | ||
| Cash and cash equivalents, end of period | 2,337,304 | 2,760,854 |
Palestine Exchange: Received Disclosed Interim Financial Statements of JERUSALEM PHARMACEUTICALS(JPH) for the first nine months ended 30092019
The Palestine Exchange (PEX) received the Unaudited & Consolidated interim financial statements for first nine months of 2019 from JERUSALEM PHARMACEUTICALS(JPH).
According to financial statements for first nine months of 2019, Net profit after tax of the period reached 2,757,245 USD Compared with Net profit after tax 4,196,241 USD for 2018, a net decrease in profit of 34.29%.Total assets of the company reached 67,122,816 USD compared with total assets of 63,203,684 USD at the end of year 2018, a net increase of 6.20%.Total liabilities of the company reached 15,098,950 USD compared with total liabilities of 11,683,624 USD at the end of year 2018, a net increase of 29.23%. Net ownership equity of the company reached 52,023,866 USD (Including None-Controlling Interests of 2,569,141 USD) compared with total owner equity of 51,520,060 USD (Including None-Controlling Interests of 2,977,441 USD) at the end of year 2018, a net increase of 0.98%.
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