ALAFCO announces profit of KD 10.2 million for 2009

Published November 10th, 2009 - 01:09 GMT
The Chairman and Chief Executive Officer of ALAFCO Aviation Lease and Finance Company Mr. Ahmad A. Alzabin announced the company realized a net profit of K.D. 10.2 million (US $35.6 million) in the fiscal year that ended 30 September 2009. He said although the net profit was only slightly more than the previous year, it is viewed positively in light of the financial crisis that afflicted the world economy during the year. The earning per share was Fils 14.81 and the assets increased by 50 percent to K.D. 390 million (US $1.4 billion). The shareholders equity increased by 15 percent to K.D. 93.6 million (US $326.5 million). The Board of Directors recommended the distribution of bonus shares of 8 percent of issued shares.

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