Bayan Investment makes KD 11.2 million profit in 2008

06/05/2009 00:00 AST

Bayan Investment Co. made a net profit of 11.2 million Kuwaiti dinars in the fiscal year ending Dec. 31, 2008, compared to KD 7.5 million the previous year, at an increase of 49.3 percent.

Chairman and Managing Director Faisal Al-Mutawa, speaking at the General Assembly on Tuesday, said the profit per share for 2008 was at 30 fils compared to 20 fils in 2007, after allocating provisions to counter the global economic crisis.

Al-Mutawa said these positive results came thanks to the solid and reserved measures taken by the management in the interest of achieving its ambitious investment strategy on the long?term.

The assembly approved the distribution of cash profit at 10 percent of the nominal share price, or 10 fils per share.


KUNA

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