Reem Investments profits jump to Dhs1.06bn
United Arab Emirates: Thursday, April 10 - 2008 at 11:16
Reem Investments, an Abu Dhabi-based investment company, has reported that it earned a profit of Dhs1.06bn ($289m), driven both by sales revenue and fair value gains for the full year 2007 as compared to the Dhs205m recorded for the full year 2006. Shareholders' equity for the year grew 85% to Dhs3.5bn from Dhs1.9bn in 2006. Total net asset value increased by 69% to Dhs5.3bn from Dhs3.1bn in 2006. Based on the strong performance the company 's board of directors has proposed a dividend of 10%. Shaikh Tahnoon bin Zayed Al Nahyan, chairman, Reem Investments, called the year 'a milestone and remarkable' for the company.
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Jeff Florian, Senior ReporterThursday, April 10 - 2008 at 11:16 UAE local time (GMT+4)
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