21 February 2015

The recommended cash dividend is 5% to be distributed to shareholders

URC Board of Directors approved the consolidated Financial Statements for the year 2014 and recorded net profit of KD 7.87 Million compared to a net profit of KD 11.2 Million in year 2013.

URC's Chairman, Mr. Tariq Mohammed AbdulSalam stated that the decline in profit this year is due to the decline in re-evaluation gain and profit from the sale of investment properties compared to last year. However, the total profit for 2014 has witnessed a growth of approximately 2.5 % which reflects the stability of the company's operational profits which has also been reflected on the increase of 23% in total revenue in 2014.

Furthermore, Mr. Tariq Mohammed AbdulSalam also stated that the total assets has grown by 10% compared to last year to exceed KD 520 Million .

Accordingly the Board of Directors has recommended a cash dividend of 5% which is subject to the General Assembly's approval.

© Press Release 2015