First Bahrain Real Estate Development Company today held its Annual General Meeting (AGM) for the year ended 31 December 2016, in which the company announced a net profit of USD 2.7 million, representing annual growth of 148% over the USD 1.1 million reported in the year prior.
Manama, Bahrain – 18 May 2016: First Bahrain Real Estate Development Company today held its Annual General Meeting (AGM) for the year ended 31 December 2015, in which the company announced a net profit of USD 1.1 million for the year, representing 56% growth over the prior year.
We are pleased to announce that the Annual General Meeting of the shareholders for the year ended 31 December 2015 has been scheduled to take place on Wednesday, 18 May 2016.
First Bahrain, a leading Kuwaiti real estate development company, today announced a 10% share dividend, distributing KD 2,120,996 of its retained earnings proportionally amongst its shareholders. The distribution is the final step in the successful implementation of corporate restructuring effort which reset the paid up capital to KD 23,330,960. The company, founded in 2005, is one of the few developers to have weathered the 2008 global financial crisis with positive historical earnings.
We are pleased to announce that the Annual General Meeting of the shareholders for the year ended 31 December 2014 has been scheduled to take place on Thursday, 11 June 2015.
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