Wassel's financial results for the third quarter of 2024

The Palestinian Distribution and Logistics Company (Wassel) reported its consolidated financial results for 2024, showcasing a profit attributable to shareholders of $593,000. This marks an 11.8% increase over the $530,000 earned in the same period of 2023.

Wassel's operational performance aligned with forecasts and remained consistent with the previous year. However, financial improvements were largely driven by increased logistics service sales and enhanced cost-efficiency measures. Despite these gains, the company continues to face challenges from declining local stock prices and a downturn in the performance of allied companies, stemming from the ongoing severe economic impact of the aggression against Gaza.

As a publicly listed entity on the Palestine Exchange, Wassel has a shareholder base exceeding 13,000 investors. Its diverse investment portfolio encompasses logistics services, financial leasing, cash-in-transit operations, and security and guarding services.