Jan 15 2012 |
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Jadwa Investment, a leading Saudi Arabian investment firm, delivers 2011 profits of more than SR 130 million and dividends of SR 1.5 per share
Revenue surpassed SR270 million ($72 million); a more than 14% increase compared with 2010. Net income exceeded SR130 million, an increase of more than 18% from 2010.Commenting on the results, HRH. Prince Faisal bin Salman bin Abdulaziz, Chairman of Jadwa Investment , said: "For the fifth year in a row since founding Jadwa, we have experienced volatile global and regional markets. During 2011, our industry was impacted by several major socio-political and economic events, including Arab Spring and the European sovereign debt crisis. In this challenging environment, I am pleased to announce record revenues and profits for 2011. We are particularly delighted that Jadwa has been profitable every year since its founding. "
HRH Prince Faisal added: "Shareholders' Equity has grown to SR1.3 billion, reaching SR 23.3 per share. The Board recommends increasing dividends to shareholders to SR1.5 per share, representing 15% of the par value per share. This recommendation reflects our commitment to providing returns to our shareholders. We thank our shareholders for their commitment to Jadwa Investment and are delighted to share the positive results today."
Al-Khateeb concluded: "We would like to thank our clients for their trust in us. Their commitment to Jadwa has inspired our teams to continue to provide exceptional service with a high degree of professionalism and innovation. Our clients and employees have enabled this outstanding track record of success."
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