FBICO to give 6% cash profit for 2010

26/03/2011 00:00 AST

The Fujairah Building Industries Company's (FBICO) board of directors announced the distribution of a six per cent cash profit to shareholders for the year 2010.

The company's profit given out to stockholders in 2009 was 10per cent.

This was announced during a general assembly meeting held at the Siiji Al Diar hotel in Fujairah headed by Engineer Mohamed Majid Al Alili, Director of the Industry and Economy Department and chairman of the board of directors of FBICO.

Eng Al Alili said the company posted last year 2010 a net profit of Dh15.2 million against Dh44.3 million in 2009, down by 66 per cent. Thus, the net profit per share in 2010 came to 12 fils, compared to 35 fils in 2009.

Al Alili added that the revenues rate of FBICO for 2010 stood at Dh209 million against Dh250.7 million in 2009, reporting a drop of 17 per cent.

FBICO posted a 3.5 per cent rise in total assets to Dh455.4 million in December 21, 2010. The total capital of the company recorded in December 31, 2010 amounted to Dh126.5 million, the same capital value reported in 2009.

Khaleej Times

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