Nass Corporation turnover reaches BD88m

Nass Corporation Board of Directors in a meeting Monday reviewed and approved the financial results of the company for the year ended 31st December 2011. Announcing the results the Nass Corporation B.S.C., Deputy Chairman, Samir Abdulla Nass said that the company had achieved a gross turnover of BD 88.756 million (BD 107.576 million for 2010) on which it had achieved a Net Profit of BD 4.526 million (BD 7.322 million for 2010).

“Despite extremely challenging economic and market conditions, the company has maintained its track record of earning reasonable profits for the year,” Nass, said.

He added that notwithstanding the difficult market conditions the company’s Board of Directors have in the spirit of demonstrating their commitment towards shareholders to provide value for their investment, recommended a cash dividend of 15 fils per share to its shareholders which is subject to approval of the shareholders in the annual ordinary general assembly meeting to be held on 21st March 2012.