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ADIH net profit jumps 47pc to $60m

Abu Dhabi, April 1, 2008

Abu Dhabi Investment House (ADIH) made a net profit of Dh220 million ($60 million) last year, 47 per cent higher than the previous year.

It is distributing a cash dividend of 30 per cent, or Dh0.3 per share, to shareholders.

"This is the most successful year for ADIH in its third fiscal year," said chairman Jowa'an Awaidha Al Khaili.

"As a fairly young company, ADIH has established itself as a leading investment house regionally and globally."

The operating income for the year was 304m dirhams due to ADIH's investment under strategic plans to build the company's capabilities, developing new business, opening of new offices in Bahrain and Geneva and on the development of the company's human resources.

Return on Capital (ROC) has increased significantly since ADIH's inception.

In 2005, ROC was 20 per cent, increasing to 75 per cent in 2006, and further growing to 110 per cent last year, while net assets per share increased by 58 per cent last year to Dh3.03 per share compared to Dh1.92 in 2006.

The balance sheet grew impressively to Dh853 million - an increase of Dh139 million or 20 per cent when compared to 2006.

"Our results further demonstrate ADIH's fast and steady growth, as we continued to diversify our portfolio and seized major exit opportunities where possible," said managing director Rashad Y Janahi.-TradeArabia News Service




Tags: ADIH | profit | Net |

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