The board of directors of Nass Corporation has recommended a cash dividend of 15 per cent, or 15 fils per share (3 cents), for the year ended December 31.

The announcement follows a meeting of the board held yesterday (February 26) which saw the financial results get approval, said a report in the Gulf Daily News (GDN), our sister publication.

The company achieved a gross turnover of BD83.026 million last year as against BD80.241 million in 2013 on which it had achieved a net profit of BD4.1 million, as against BD4.124 million for 2013.

The gross turnover achieved for the fourth quarter was BD23.678 million as against BD19.660 million for same quarter of 2013.

Net profit for the fourth quarter was BD454,000 as against BD791,000 for the same period in 2013.

“The company could achieve satisfactory performance for the year in spite of difficult economic and market conditions,” Nass Corporation chairman Sameer Abdulla Nass said. - TradeArabia News Service