FINANCIAL NEWS

Asmak net profits at USD19.7m in 2010

19 Feb 2011

(MENAFN) UAE based Asmak Trading, reported financial figures for the fiscal year of 2010, showing that net profit stood at USD19.7 million, reported Arabian Business.

Asmak also reported that revenues in the same year hit USD136.9 million. The company said that in addition to good financial results, it expanded more in the UAE as well as other countries in the region like Oman and Saudi Arabia.

In additioon to opening new branches, Asmak bought out Abu Dhabi Land Group, part of Abu Dhabi’s Royal Group, in a deal that Asmak said would bring in more revenue and thus better dividends to shareholders.

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