Al-Tijaria records KD10.9m net profits in 2012

The Commercial Real Estate Company, Al-Tijaria, Sunday announced KD 10.9 million in net profits for fiscal year ending last December, achieving a 3.9 percent growth compared to 2011.  Chairman and Managing Director Abdulfatah Marafie said in a statement return per share gained six percent to 6.3 fils, encouraging the Board Members to recommend distribution of five percent cash dividend.  He said return on shareholders equity grew by 4.4 percent while total accumulated profits to total assets amounted to 3.2 percent, 18.5 percent more than 2011. Marafie said return on paid capital jumped to six percent.  Al-Tijaria reduced liabilities by KD 14.8 percent, or 12 percent of total debts. Cost of debt was cut by 32 percent, noted Marafie, bringing down financial burdens by KD 2.7 million.  Marafie said the company sought to keep sustainable growth coupled with marginal profits, manage cash flows and achieve return on invested capital via low-risk strategies and policies.  Al-Tijaria was established in 1968 with a paid capital of some KD 183 million.