| 1998 Annual Report - Financial Highlights This annual report outlines the Company’s comprehensive
activities, achievements, and strategic directions. It also presents the Auditors’
Report, Balance Sheet, Cash Flow and Profit and Loss Statements for the fiscal year ending
December 31, 1998. Palestine Telecommunications Co. P.L.C. is a public shareholding
company incorporated in 1995 under the Company Law in force in the West Bank by a group of
private investment companies and institutional investors. The Company has an exclusive
License Agreement with the Palestinian National Authority. In accordance with the terms of
this License, PalTel is developing the Telecommunications Sector. PalTel commenced its
operation on January 1, 1997 with a capitalization of forty-five million Jordanian Dinars
(JD 45 million).
|
1997 |
1998 |
|
| Net revenues |
27.0 |
36.0 |
JD (millions) |
| Net income |
10.12 |
8.57 |
JD (millions) |
| Earnings per share |
0.225 |
0.19 |
JD |
| Capital expenditures |
20.5 |
48.6 |
JD (millions) |
| Free cash flow |
9.85 |
10.34 |
JD (millions) |
 |
|
|
|
| Telecom Highlights |
|
|
|
| Number of operating lines |
110,791 |
167,271 |
|
| Number of Exchanges |
14 |
28 |
|
| Switch penetration rate |
4% |
6% |
|
|
