07 May 2009
Zara Investment (Holding) Company held its 15th annual General Assembly meeting on April 27, during which Board Chairman Mr Sabih Masri presented the financial results that Zara and its subsidiaries achieved during 2008.
Revenues reached JD77,820,204 which represents an increase of 34% over the year 2007, reflecting increases in operating profits of 48% and in net profit of 111%. Masri emphasized the company's strategy of enhancing shareholder value through reinvesting its returns on developing its portfolio of premium five-star properties on the short to medium terms.
He said that the company is currently working on finalizing the development of its seventh 5-star hotel (Movenpick Resort Tala Bay Aqaba) slated to be opened during the summer of 2009.
Zara Investment (Holding) Company held its 15th annual General Assembly meeting on April 27, during which Board Chairman Mr Sabih Masri presented the financial results that Zara and its subsidiaries achieved during 2008.
Revenues reached JD77,820,204 which represents an increase of 34% over the year 2007, reflecting increases in operating profits of 48% and in net profit of 111%. Masri emphasized the company's strategy of enhancing shareholder value through reinvesting its returns on developing its portfolio of premium five-star properties on the short to medium terms.
He said that the company is currently working on finalizing the development of its seventh 5-star hotel (Movenpick Resort Tala Bay Aqaba) slated to be opened during the summer of 2009.
© The Star 2009
