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Home Local 27/May/2021 05:34 PM

APIC achieves net profits of $8.31M by first quarter of 2021, a growth of 62.4% year on year

RAMALLAH, Thursday, May 27, 2021 (WAFA) - Chairman and CEO of Arab Palestinian Investment Company (APIC) Tarek Aggad announced that the group achieved net profits after tax of $8.31 million by the first quarter of 2021, a growth of 62.4% compared to the same period of last year, with net profits attributed to APIC shareholders reaching $7.2 million, a growth of 72.9% year on year.

Total revenues grew, amounting to $259.8 million, a growth of 19% year on year, said APIC in a statement.

APIC is a foreign public shareholding investment holding company listed on the Palestine Exchange (PEX: APIC). It holds diversified investments across the manufacturing, trade, distribution, and service sectors in Palestine, Jordan, Saudi Arabia, the United Arab Emirates, Iraq, and Turkey through its nine subsidiaries, employing over 2600 people through its group of subsidiaries.


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