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Jadwa posts net profit of SR35.6m |
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Sunday
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07/02/2010 |
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Source :
Arab News |
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Jadwa Investment has registered a strong 2009 performance with net profits of SR35.6 million. |
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Jadwa Investment has registered a strong 2009 performance with net profits of SR35.6 million.
The company's stakeholders' entitlements rose 56 percent to SR1.158 billion, compared to SR742 million in 2008, with the price of each share reaching SR20.4. The board of directors recommended a distribution of five percent of profits.
"Despite the difficult economic conditions in the markets over the past two years, Jadwa succeeded in making a profit for the third year in a row and experienced strong growth, taking its financial position to SR1.158 billion," said Jadwa Chairman Prince Faisal bin Salman.
"This was accomplished thanks to the distinguished efforts of the entire work force at Jadwa, its talented board of directors and its highly qualified administration and specialized committees. They deserve the praise for what they have achieved in difficult times, which saw a number of regional and global financial establishments such as Bear Stearns and Lehman Brothers fail."
The prince added: "Difficult situations such as this help us acquire sturdiness and strength and supply us with rare opportunities which we don't get in ordinary circumstances or when the economy is going through periods of strong growth. They enabled us to build an investment portfolio that will have a positive impact in the medium and long term. |
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