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Afaq posts 11% profit rise in Q4, proposes dividends

Afaq posts 11% profit rise in Q4, proposes dividends
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Afaq Holding
MANR
3.64% 0.57 0.02

Mubasher: Afaq Holding for Investment and Real Estate Development generated JOD3.59 million ($5.05 million) profit in the fourth quarter of 2015 , up 10.9%, compared to JOD3.24 million ($4.56 million) in the year-ago period.

The company’s FY15 profits grew 25.99% year-on-year from JOD9.17 million ($12.9 million) to JOD11.5 million ($16.2 million).

The board of directors recommended distributing cash dividends at 12.5% of the JOD80 million capital, or JOD10 million.  

Profits for the first nine months of 2015 jumped 34.25% to JOD7.96 million ($11.1 million), compared to JOD5.93 million ($8.33 million) in 2014.