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.
Gmail just hit a major milestone
Google’s Gmail, already the most popular email service around, just notched member No. 900 million, the company announced at its annual I/O developers conference this week.
Dollar soars to 12-yr high against yen
The dollar soared to its highest level against the yen in more than 12 years on Thursday, powered by expectations for a US interest rate hike and more monetary easing from Japan’s central bank. The g