Rawabi, 15/05/2023
PADICO disclosed its business results and consolidated financial statements for the first quarter of 2023, with financial results showing a 22% net profit growth of $8.3 million compared to $6.8 million for the same period in 2022.
Earnings per share rose by 55%, and the return on equity and return on assets increased by 23% and 12%, respectively. The share value has reached $1.87 after it had been traded on Palestine Exchange at a price ranging between $1.32 and $1.42 since the beginning of this year. This continued improvement in the company’s core financial indicators is attributable to its investment policy in recent years, a policy based on diversifying and distributing investments across various sectors and reduction of operational expenses.
PADICO is a public shareholding company investing in many economic sectors, such as telecommunications and information technology, real estate, financial services, industries and agriculture, tourism, infrastructure and energy, and industrial zones.
