Nass posts profit of $19.4m for 2010
Manama, February 28, 2011
Bahrain-based Nass Corporation, a leading construction company, has posted a net profit for the year of BD7.322 million ($19.4m) compared to BD13.746 million in 2009.
Chairman Abdulla Ahmed Nass said that the company had achieved a profit before interest and depreciation of BD13.446 million compared to BD20.489 in the previous year. Gross turnover was BD107.576 million against BD113.060 million for 2009.
'The results are a reflection of the company's ability to weather rough and adverse market trends and earn reasonable profits even in dampened and severely challenged market conditions' he said.
He added that the board was recommending a cash dividend of 15 fils. – TradeArabia News Service