Palestine Electric Corporation Reports Net Profit During Current Year of $476,000

The Palestine Electric Corporation’s net profit for the current year is 170,000 Israel pounds (approximately $476,000), it was announced today. The net profit in the previous year was 97,000 pounds. The P.E.C. paid a total of 380,000 pounds in taxes during the current year and set aside for the general reserve a sum of 125,000 pounds.