Nass Corporation Board of Directors met on 26th February 2017 to review the financial results of the company for the year ended 31st December 2016. Announcing the results the Nass Corporation B.S.C, Chairman, Mr. Sameer Abdulla Nass said that the company has achieved a gross turnover of BD 135.818 million (BD 99.284 million for 2015) up by 37% YoY, on which it has achieved a Net Profit of BD 3.044 million (BD 2.668 million for 2015) up by 14% YoY. The gross turnover achieved for Q4 2016 was BD 44.376 million (BD 26.702 million for Q4 2015) up by 66% QOQ on which it has incurred a net loss of BD 1.141 million (net profit BD 1.086 million for Q4 2015) down by 205% QOQ.
“The year 2016 was challenging as turnover growth translated into only a marginal growth in profit in view of the challenges posed by the adverse macroeconomic factors. As a demonstration of our commitment to the shareholders, I am pleased to announce that the Board of Directors are recommending a dividend of 5 fils per share i.e. 5% of issued share capital, subject to the approval of the shareholders in the annual ordinary general assembly meeting and regulatory approval, added Mr. Nass.
