May 15, 2022 – Ramallah, Palestine: Chairman and CEO of Arab Palestinian Investment Company (APIC) Tarek Aggad announced that the group achieved net profits after tax of USD 11.14 million by the first quarter of 2022, a growth of 34% compared to the same period of last year, with net profits attributed to APIC shareholders reaching USD 9.92 million, a growth of 38.44% year on year. Total revenues grew, amounting to USD 281.54 million, a growth of 8.4% year on year. Total assets increased by 10.4% and reached USD 682 million, net equity attributed to APIC shareholders also increased by 5.6% and amounted to USD 172.34 million.
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 subsidiaries, which include National Aluminum and Profiles Company (NAPCO); Siniora Food Industries Company; Unipal General Trading Company; Palestine Automobile Company; Medical Supplies and Services Company; Sky Advertising and Promotion Company; Arab Leasing Company; and the Arab Palestinian Storage and Cooling Company, employing over 2,600 people through its group of subsidiaries.