Palestine Telecommunications Company/Jawwal’s business results for the first half of 2024

Ramallah - Ma'an - The Palestine Telecommunications Company/Jawwal disclosed its business results and consolidated financial statements for the first half of 2024, achieving total revenues of JOD 118.1 million, compared to JOD 148.1 million for the year 2023, a decrease of 20%. The company also achieved a net profit of JOD 18.9 million for the first half of 2024, compared to JOD 26.1 million for the same period of the previous year. The company's financial results continue to decline, accompanied by the significant impact on its operations and networks operating in the Gaza Strip as a result of the ongoing aggression for the tenth consecutive month, in addition to continuing to provide citizens in the Gaza Strip with hundreds of millions of minutes, messages and free internet services to ensure their communication with the outside world. The decline in the exchange rate of the shekel against the Jordanian dinar also contributed to this decline, as most of the company's revenues are in shekels, as the exchang e rate declined by about 3% compared to the same period in 2023. It is noteworthy that the Palestine Telecommunications Company/Jawwal was established in 1995 as a public shareholding company, linking Palestine to an advanced network in the fields of cellular and fixed communications, the Internet, and information technology solutions that serve more than three million subscribers from all sectors. Source: Maan News Agency