Ramallah – Ma’an – The Palestinian Distribution and Logistics Company (Wasel) disclosed its business results and consolidated financial statements for the first half of 2024, as the profit attributable to the company’s shareholders amounted to $532,000 compared to $618,000 for the same period in 2023, a decrease of 13.9%.
These operational results were within Wasil’s expectations and were relatively similar to last year, but the decline in the company’s financial statements was a result of the losses incurred by its investments, particularly due to the decline in the closing prices of local stocks, in addition to the decline in the performance of affiliated companies resulting from the sharp decline witnessed by the Palestinian economy.
It is noteworthy that Wasel is a public shareholding company listed on the Palestine Stock Exchange with a shareholder base of more than 13,000 shareholders. Its investments include logistics services, financial leasing, money transfer, and security and guarding.
Source: M
aan News Agency
