News Column

BENEFIT reports net gains of $6.6 million

February 27, 2014

MANAMA: The BENEFIT Company yesterday reported a net profit of BD2.5 million ($6.6m) last year compared to BD2.3m in 2012, a growth of 7.4 per cent.

The company recorded BD2.4m as operating profits last year compared to BD2.3m in 2012, resulting in 2.5pc growth in 2013.

The board has recommended distributing 25pc as cash dividends and 20pc as bonus shares of paid-up capital, subjected to the approval of the authorities and shareholders at BENEFIT Annual General Meeting.

The board meeting was chaired by BEN-EFIT vice-chairman Reyadh Yousif Sater. He said the board was pleased with the positive results recorded in 2013 and the continued success the company has experienced.

"The company's high quality and diverse services in electronic payments and credit information have significantly impacted the positive growth and results."

Mr Sater said the company is committed to developing and enhancing the current services according to its strategic direction, which was recently approved by the board, providing value-adding services to the entire market of Bahrain.

Chief executive Abdulwahid Janahi said the focus of the company on its core services and the business of developing the banking industry along with the commitment of its board and staff reflected in the positive results achieved.

"The company shall continue its efforts in providing the market the best services with the highest quality in terms of banking, financial, and payments services in order to gain the satisfaction of customers, clients, and partners," he said.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Gulf Daily News (Bahrain)

Story Tools