Manama: Nass Corporation achieved a 20 per cent increase in gross turnover last year at BD99.284 million when compared with BD83.026m for 2014.
In a statement issued yesterday after a board of directors meeting, the company said its net profit for the year was down by 35pc to BD2.668m from BD4.1m in the previous year.
Gross turnover for the fourth quarter last year was up by 13pc to BD26.702m from BD23.678m for the same quarter of 2014, on which it achieved a 139pc increase in net profit at BD1.086m when compared with BD454,000 for the same quarter of 2014.
“The year 2015 was difficult in view of the challenges posed by the adverse macro-economic factors,” Nass Corporation chairman Sameer Nass said.
“This resulted in a substantial fall in the profits for the year compared to previous year. The company is conscious of its responsibility and commitment to the shareholders of providing them with a value for their investments.”
Mr Nass said despite the adverse financial condition, the board has recommended a token dividend of 5 fils per share i.e. 5pc of issued share capital.
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