Mr. Ahmad Aweidah, Chief Executive Officer of the Palestine Exchange (PEX) announced that thirty nine (39) listed companies on the PEX out of forty (40) including one suspended company disclosed their third quarter financial results for the year 2010, whereas another suspended company has not disclosed its results.
Aweidah confirmed that disclosure has reached 100% excluding the suspended companies. This demonstrates the commitment of all listed companies traded at the PEX to disclose within the legal period. “The PEX and the Capital Market Authority (CMA) are committed to maintain steady disclosures to ensure exchange stability, investor protection and attract investment”, stated Aweidah. This performance reflects transparency and good governance and minimizes the effect of other factors such as the political and economic instability, he added.
The financial results for the third quarter of 2010 indicated that thirty one (31) out of thirty nine (39) disclosed companies achieved profits. Aweidah expressed his hope to witness a significant increase in trading volumes towards the end of 2010 that would correspond to the good performance of most of the listed companies.
Click here to download a table providing details pf the financial results.