|
AL OMANIYA DECLARES A PROFIT OF Ro 2.068 MILLION FOR THE FIRST HALF OF YEAR 2011.
Al Omaniya Financial Services SAOG announced their approved un-audited half yearly results for the period ended 30thJune 2011.
The company has announced a pre-tax pre-provision profit of RO 3.4 million as compared to RO 2.685 million in the same period last year resulting in a growth of 26.6%.
The company made a net profit after tax of RO 2.068 million as compared to RO 1.877 million in the same period last year, resulting in a growth of 10.18%. The hire purchase assets of the company has grown up by 15.31% and stands at RO 144.4 million as compared to RO 125.2 million for the same period last year. The company has provided RO 1.052 million towards allowance for impairment for the period. The total provision stands at RO 6.394 million as of 30thJune 2011. The company’s current net worth for all regulatory purposes is RO. 42.702 million.
Al Omaniya Financial Services is the largest among NBFC in terms of Asset size, Net Profit, Profit per employee, Asset Quality and Market Capitalization.
The Company was rated number one NBFC for the year 2010 by the Ernst &Young and Business Today survey. The company was also announced as one of the winners of the best performing company in Mid Cap segment by leading Arabic business magazine ALAM ALIKTSAAD WALAMAL.
Mr. Aftab Patel, Chief Executive Officer stated that,in view of the company’s high net worth, it is well poised to meet the new paid up capital requirement of Ro. 25 million as stipulated by the Central Bank of Oman. We are very optimistic about the year 2011 and the company is expected to perform very well and maintain its track record of earnings and dividends on the increased capital barring unforeseen circumstances.
PRESS RELEASE BY MR. AFTAB PATEL, CEO - AL OMANIYA FINANCIAL SERVICES SAOG.
|
News & Events
