The Public Authority of Wasel Holds Its Annual Ordinary Meeting

SadaNews - The public authority of the Palestinian Company for Distribution and Logistics Services (Wasel) held its annual ordinary meeting with the participation of shareholders representing 82.47% of the stockholders.

During the meeting, the main achievements and challenges of the year 2025 were reviewed, along with discussions on the items and recommendations listed on the agenda. The authority also approved the audited financial statements for the year 2025 and granted discharge to the board members for the same year, in addition to electing Ernst & Young as the company's auditor for the year 2026.

Chairman Riad Nazzal stated: "In 2025, the Wasel group began its operations amidst a highly complex political and economic reality; however, the clarity of vision and the coherence of the operational system enabled it to implement its strategic plans effectively and maintain the stability of its business, relying on a flexible and well-thought-out approach capable of continuing and adapting to changes. As a result, the group, through its various companies, achieved net profits amounting to $2.55 million, compared to $950,000 for the same period in 2024, reflecting a remarkable growth of 169%."

He added, "The group will continue its commitment to improving its operational efficiency, developing its services, and expanding its economic impact, in a way that serves the interests of our shareholders and supports sustainable growth."

It is worth noting that Wasel is a public company listed on the Palestine Exchange, with a shareholder base of more than 13,000 shareholders, and its investments include logistics services, leasing, money transfer, and security and guarding services.