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Injaz Mena confirms 47% increase in net profits and approves 10% dividend at AGM

United Arab Emirates: Wednesday, June 18 - 2008 @ 16:29

It also announced the re-election of its existing board of directors for a further three years, and approved a 10% cash dividend. This is double the five per cent paid last year.

Injaz Mena CEO Ahmed Al Dhahery says that these results reflect an excellent achievement in a year where much of the global economy has been in turmoil because of the sub-prime crisis, the weak US dollar and record oil prices.

Net profit for the 2007/08 financial year was Dhs96,097,000, compared with Dhs65,309,000 in the previous year. Total revenue jumped from Dhs80,897,000 to Dhs122,218,000 for the year, a rise of 51.08%.

Injaz Mena’s total assets climbed to Dhs832,492,000 up 71.94% over the same time last year when they totalled Dhs484,184,000. Shareholder equity increased 18.09% from Dhs426,075,000 to Dhs503,139,000.

The company increased its Assets under Management by 40.67%, up from Dhs554,817,000 in the 2006/07 financial year to Dhs780,472,000 in the year just ended.

“We look forward to continue building on what we have started over the past three years to generate superior performance and high investor returns,” said Al Dhahery.

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Wednesday, June 18- 2008 @ 16:29 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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