Reem Investments, one of the leading investment companies in Abu Dhabi, announced a net profit of Dh245 million ($66.7 million) for the financial year 2014, an increase of 61 per cent from 2013 at its recent annual general meeting.

Abdulhamid Saeed, managing director of Reem Investments said: “In a volatile year where the falling oil prices had impacted the stock markets negatively, the investment portfolio made a notable contribution to the Net Profit alongside the increase in sale of land.

“Significant efforts have also gone into the planning and design of new development projects as the company continues to remain on a strong footing with net assets of Dh5.1 billion ($1.38 billion) and zero debt.”

The Annual General Meeting approved the 10 per cent cash dividend distribution based on the capital of Dh777.5 million ($211 million), which was recommended by the Board of Directors. – TradeArabia News Service