Al-Riyada Finance & Investment Co. General Assembly Declares No Distributions for the year 2011
Al-Riyada Finance & Investment Co. general assembly in its meeting held on Monday 17th September 2012 in presence of a quorum representing 88.05% of the shareholders, has resolved not to distribute any dividends to shareholders for the financial year 2011.
Al-Riyada Finance & Investment Co. Posts KD 210 Thousand profit for the year 2011
Mr. Mohannad Al-Sane, Chairman & Managing Director - Al-Riyada Finance & Investment Co. stated that the company has achieved positive results for the year 2011, thus maintaining its strong financial position. These positive results come as a result of company’s management implementation of the company’s strategy and goals which were established since the company’s inception in 2008. Mr. Al-Sane emphasized in his speech during the general assembly meeting held on the day before yesterday that the company’s gross revenues approximated KD 252.890 compared to KD 1,244,036 for the year 2010. Equity increased by 1.3 % to reach KD 16,633,606. Total assets increased by 1.4 % to reach KD 16,748,246.