Oman’s Al-Jazeira Services has reported a profit of 3.025 million Omani rials ($7.8 million) for financial year 2003, 52 percent of the paid up capital.
Al-Jazeira’s board of directors revealed the unaudited results. A dividend of 42 percent for the second consecutive year was also announced, subject to approval by the shareholders at its Annual General Meeting, which will be held on April 12, 2004.
Al-Jazeira Services, a publicly traded company, is an affiliate company of Dubai-based Damac Group. The company is geared toward industrial catering and property development and management. In October 1997, it purchased Draieh Catering Services. Draieh had earlier acquired Spinneys Towell Catering Services, which had been operating in Oman for over 20 years. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
