Renaissance Services announced on Thursday that its profits have surged by 35% in 2014.

In its filing to the Muscat Securities Market (MSM), the Omani firm reported a profit of OMR 25.4 million ($66.2 million) in 2014 compared to OMR 18.8 million ($49 million) in 2013.

The Board of Directors has recommended a cash dividend representing 10% of capital, subject to the approval of the ordinary general meeting (OGM) slated for March 31, 2015.

Renaissance Services’ capital amounts to OMR 28.2 million divided on 282.09 million shares at par value OMR 0.1 per share.