Al Omaniya Financial 2011 net jumps 16.94pc


13/02/2012 11:01 AST

Al Omaniya Financial Services, the Sultanate’s largest non-banking financial company (NBFC), declared its audited results for the year 2011 showing a Net Profit of RO 4.831 million for the year ended December 31, 2011, an increase of 16.94 per cent over the previous year.

The total revenues of the company stood at RO 14.436 million. The company has provided RO 1970K as provision for doubtful debts. The cumulative provisions stand at RO 6.023 million. The Earnings per Share is RO 0.031, the highest in the industry. For regulatory limits, the net worth of the company stands at RO 45.465 million.

On the basis of its good performance, the Board has recommended a dividend of 25 per cent comprising 20 per cent cash and 5 per cent stock dividend on the paid-up capital for the year 2011. This is subject to the approval of the CBO and the AGM.

Aftab Patel (pictured), CEO, in his comments stated that the company has maintained its track record of paying uninterrupted dividend since its inception and the cumulative percentage of dividend paid so far is 278 per cent. The cash dividend is highest amongst all NBFCs in Oman.

The book value of the share is RO 0.226 the highest in the industry. The company has a well diversified portfolio of assets with the lowest NPA ratio in the industry. The company focuses to strengthen its position as a specialised financial institution to meet the corporate needs besides continuing the retail and micro finance business. The company has been posting higher earnings and profitability over the years and has been a consistent dividend payer since inception.

On most of the parameters, the company stands at pole position viz. number one in Asset size, highest net worth, highest market capitalisation, highest profit, highest EPS, highest profit per employee and lowest non-performing loans and largest market capitalisation on the MSM in the sector.

Oman Daily Observer
Al Omaniya Financial Services Co. - AOFS
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
SABIC 92.55 6,500,889
SAGRINSURANCE 30 145,266
RIBL 16 454,753
SPIMACO 41.6 294,772
ALKHODARI 26.2 245,633
EEC 30.19 6,733,157
STC 67 322,780
Recent News

Salam Bank Women’s needs in banking probed
Manama: The Supreme Council for Women (SCW)’s general secretariat held a meeting with Al Salam Bank Bahrain during which the two sides explored means of activating the National Model for the inclusio

Key GCC stock markets remain range-bound
Manama: GCC stock markets remained range-bound last month with minimal volatility as investor participation declined significantly across the region owing to Ramadan, according to a report.

AUB’s net profit rises 6pc to $278.4 million
Manama: Bahrain-based Ahli United Bank (AUB) has reported a 6.1 per cent increase in net profit at $278.4 million for the first half of this year, compared with $262.5m posted in the same period a ye

Gulf Bank hosts LOYAC students in summer internship program
Gulf Bank announced today the commencement of its summer internship program orientation for LOYAC students, held at the Gulf Bank’s Training Center, ‘Durrat Al-Khaleej, which produces a range of spec

Kuwait real estate picks up slightly in June
Sales across Kuwait’s three main real estate sectors totalled KWD 270 million, up 5.4 per cent from May; the number of transactions was also up 2.9 per cent. June’s performance improved despite the s

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?