Feb 07 2010 |
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Jadwa Posts SR35.6m Net Profit in 2009
JEDDAH -- Jadwa Investment has registered strong performance in 2009 with a net profit of SR35.6 million.The company's stakeholders' entitlements rose 56 per cent to SR1.158 billion, compared to SR742 million in 2008, with price of each share reaching SR20.4. The board of directors recommended a distribution of five per cent 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 specialised 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," he added.
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