WASSEL Discloses Its Preliminary Financial Results for 2024

WASSEL has disclosed its preliminary consolidated (unaudited) financial results for the fiscal year 2024, reporting a net profit of $991,000 compared to $509,000 for the same period in 2023.

This increase in the company's preliminary financial results is attributed to higher sales in logistics and heavy transport services during 2024. Additionally, WASSEL continued its strategy of cost control and expense optimization across all its subsidiaries while maintaining a strong profit margin across its services. This was achieved despite the decline in the performance of allied companies due to the severe economic downturn caused by the aggression on the Gaza Strip.

Commenting on these results, WASSEL Chairman Riyad Nazzal stated:
"Despite the difficult circumstances and the negative impact of the aggression on Gaza throughout 2024, affecting various economic sectors, WASSEL managed to overcome these challenges and achieve profits and positive financial performance."

He added that WASSEL looks forward to achieving further milestones and making a qualitative leap in its business and investments in line with the Board of Directors' vision. The goal is to ensure the company’s sustainable growth and contribute to strengthening the Palestinian economy as a whole.

It is noteworthy that WASSEL is a publicly traded company listed on the Palestine Stock Exchange, with a shareholder base exceeding 13,000 investors. Its investments include logistics services, financial leasing, cash transportation, and security and guarding services.