KUWAIT: Abdulfatah M R Marafie, Chairman of Al-Tijaria Real Estate Company, has stated that the business outcome of the company for the financial year ended on 31.12.2014 resulted in achieving net profits of KD 18,922,382 with an increase of 26 percent compared to the year 2013.The Earning per shares (EPS) of the share increased by 27 percent to reach 11.21 fils per share. The company has continued during 2014 achieving high performance ratios and returns. The said profits led to an increase in the financial indices of the year 2014 as compared to the year 2013.
The return on the shareholder equity reached 7.1 percent with a growth of 21.3 percent. In addition, the return of the group profits on the total assets reached5.2 percent with a growth of 22.3 percent; whereas the return on the paid up capital of the company increased by 11.1 percent with a growth of 26 percent. The results of the company for 2014 have shown growth in shareholder equity by 3.9 percent. And a growth in the company’s assets by7.7 percent compared to the same period of 2013. The business of the company remarkably improved in many aspects and fields and maintained an income increase including the revenue of real estates and hotels whereas the total revenues of real estates and hotels reached approximately KD 19.3 million in 2014 which reflected the strong growth of revenues by 7.8 percent as compared to last year.
Based on the achieved results, the Board of directors of the company recommended the distribution of 6 percent cash dividends of the bar value of the shares and 5 percent bonus shares of the company’s paid up capital. It is worth noting that the recommendations of the Board on the dividend distributions were made based on the previous, current, and expected future results in parallel and connected with the company growth, continuity and expansion of the its activities and growth of its revenues in accordance with the prospect of the projects, operational revenues and cash flows of the company to create an added value to shareholders.
The results and accomplishments reflect the exerted efforts in light of the strategic commitment announced by the company, which focuses on constantly seeking to seize promising investment opportunities which achieve added value to the shareholders’ investments, in addition to applying a conservatory policy which aims at maintaining shareholders’ rights and maintaining the real value of the company assets.
Accordingly, the company has extended its investments in new markets outside local and regional markets, thus diversifying its investments in terms of geographical and sectorial distribution. Wherein the company had invested in United Kingdom, United States, Norway, Germany and other developed countries through real estate projects, majority of which are with recurring monthly returns and the rest are developmental achieving good returns upon exiting.
Abdulfatah Marafie, personally and on behalf of the members of the Board of Directors and employees at the Company, congratulates His Highness the Amir Sheikh Sabah Al-Ahmed Al- Jaber Al-Sabah and His Highness the Crown Prince Sheikh Nawaf Al-Ahmed Al-Jaber Al- Sabah, on the occasion of National Day and Liberation Day and wishes everyone blessings, security and prosperity. He also expresses his gratitude and appreciation to all shareholders, members of the Board as well as employees at the Company for their efforts, continuous support, and hard work for reaching the sought after goals.
