The Ramallah-based Arab Palestinian Investment Company (APIC) achieved net profits after tax of $31.4 million by the third quarter of 2021, a growth of 96.7% compared to the same period of last year, with net profits attributed to APIC shareholders reaching $27.8 million, a growth of 118.2% year on year, according to APIC’s Chairman and CEO Tarek Aggad.

Total revenues grew, amounting to $821.9 million, a growth of 24.5% year on year, he said.

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 group of subsidiaries, employing over 2,600 people.