Wasel disclosed its financial statements for the first quarter of 2024

Ramallah – Ma’an – The Palestinian Company for Distribution and Logistics Services (Wasel) disclosed the results of its business and consolidated financial statements for the first quarter of the year 2024, where the profit attributable to the company’s shareholders amounted to 105 thousand dollars compared to 377 thousand dollars for the same period of the year 2023, that is, a decrease of 72 percent. %.

The operating results were within expectations and similar to last year, but the significant decline in Wasel’s financial statements came as a result of the losses incurred by its investments, especially due to the decline in the closing prices of local stocks, which led to recording losses worth $95,000 compared to profits worth $126,000. For the same period in 2023, in addition to the decline in the performance of allied companies resulting from the sharp decline witnessed by the Palestinian economy.

It is noteworthy that Wasel is a public joint stock company listed on the Palestine Stock Exchange with a
shareholder base of more than 13 thousand shareholders, and its investments include logistics services, financial leasing, money transfer, security and guarding.

Source: Maan News Agency