28 Nov 2011
(MENAFN) Damas International said that during the six-month period that ended September, the firm’s net profits surged 524 percent to USD7.21 million from USD1.14 million in 2010’s same period, reported Emirates 24/7.
The Dubai-based jeweler added that during the period, the firm booked profits of USD40 million from sales of gold and bullion jewelry, recording an increase of 85 percent from USD21.7 million in last year’s same period.
It also said that the company’s sales of pearl jewelry hiked 40 percent from USD3 million in 2010’s same period to USD4 million.
It is worth noting that in May, Damas announced a USD816 million restructuring of its bank borrowings, under which, banks agreed to separate Damas’ total borrowings into three tranches, with the first tranche of USD297 million to be repaid in quarterly installments of USD12.4 million each over the next six years.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more