VOL. XLIII

No. 26

26-June-2000

PALESTINE

Paltel Reports Net Profits Of JD6.37Mn In 1999

The Palestinian Telecommunications Company (Paltel) reported net profits of JD6.37mn ($8.97mn) in 1999, a decline of 25% from the previous year despite a 20% increase in revenue to JD64.751mn ($91.198mn). According to a report by the 'Amman-based Atlas Investment Group, the companys losses were the result of a 400% rise in interest expenses and an increase in depreciation expenses of JD5mn ($7mn) as a result...