National Finance profit hikes 23%

24 Feb 2011

(MENAFN) National Finance Company reported an increase in the number of new deals by 91 percent, while net investment in finance leases went up by 16.5 percent, which resulted in USD6 million of profits, reported Times of Oman.

The company stated that its year on year increase in profit in 2010 was 23.1 percent higher than that reported in 2009.

The company also stated that the board of directors gave approval on distributing 5 percent dividends in cash and 16 percent in stock, totaling to 21 percent.

The company added that these positive results were due to a strategy that concentrates on enhancing relative performance through the global financial crisis, which would lead to an increase in dividends.

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