The National Investor (TNI), a leading Abu Dhabi-based investment company, posted a lower net profit of Dh2.2 million ($598,931) for the year ending March 2011, compared to Dh30.8 million in the previous fiscal year.

The consolidated revenues for FY10-11 declined to Dh 161.9 million, representing a year-on-year decrease of 13 per cent.

“Many would consider the past financial year to be the most difficult since the implosion of the global financial system in late 2008. These challenges were exacerbated in the last quarter of our fiscal year by the unrest in the Mena region, and as a result, our financial performance was adversely affected due to the regional footprint of our business,” said Abdullah M. Mazrui, chairman of TNI.

“We have remained resilient during the financial crisis and the sustainability of our business model has stood the test of time. The UAE and Abu Dhabi in particular present an exciting growth opportunity and we believe TNI has the necessary capabilities to succeed in this growing market and build a position of leadership.”

“After a promising start, the fiscal year ending March 2011 has proven to be the third consecutive difficult year for our industry driven by an uncertain economic and political environment in the Mena region,” added Orhan Osmansoy, chief of TNI.-TradeArabia News Service