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Al Mazaya Holding posts Dh417.8m profit in 2007
DUBAI — Al Mazaya Holding released on Monday its financial results for the fiscal year ending December 31 2007.
The Kuwait-based company posted a net profit of Dh417,871,453, up from Dh300,246,107 in 2006. Earnings per share jumped to 136 fils. Company’s assets increased from Dh2.107 billion in 2006 to Dh3.586 billion this year, while shareholders’ equity rose to 1.467 billion, from Dh1.113 billion during 2006.
The announcement was made at the end of the board of directors meeting held at the company’s headquarters in Kuwait, chaired by Rashid Al Nafisi, Al Mazaya Holding Chairman and attended by Khalid Esbaitah Vice-Chairman and Managing Director of Al Mazaya Holding and the board members represented by Bader Abel, Fahed Al Ibrahim and Nasir Al Attar.
Al Nafisi announced that the board decided a cash dividend of 67 fils per share, reflecting a 50 per cent increase in nominal value, as well as an additional 20 per cent which equals 27 fils (20 shares for every 100 shares).
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