Nass Corp net profit hits $10.9m
Manama, February 25, 2014
Bahrain-based Nass Corporation has reported a net profit of BD4.124 million ($10.9 million) for last year compared to BD4.009 million the year before.
The company's gross turnover was BD80.241million for last year, compared to BD119.649 million in 2012, reported the Gulf Daily News, our sister publication, citing a top company official.
The gross turnover achieved for the fourth quarter of last year was BD19.66 million compared to BD31.261 million in the fourth quarter of 2012, said Nass Corporation chairman Sameer Nass.
The company achieved a net profit of BD0.791 million compared to BD1.378 million in the fourth quarter of 2012.
Nass said the company had put up a strong show despite challenging economic and market conditions.
Further, as a demonstration of appreciation and commitment to the shareholders, the board of directors has recommended a cash dividend of 15 fils per share to its shareholders subject to their approval at the annual ordinary general meeting to be held on March 24.-TradeArabia News Service