Jordan National Shipping Lines announces its financial results for 2009 & distributes profits in cash 15 % to the shareholders

Published March 17th, 2010 - 01:06 GMT
The General Assembly of Jordan National Shipping Lines PLC (JNSL) approved the distribution of cash dividends to the shareholders, with a percentage of 15% of the company’s capital.
JNSL announced the financial results of the fiscal year 2009 during its ordinary annual meeting of the general assembly, which was held at King Hussein Club on 17 March 2010 and presided over by the Chairman of the Board, Ahmad Helmi Armoush, in the presence of the Board members, the shareholders, the management team, and media representatives.
The financial results revealed strong financials with good operational profit and growth in the equity rights, with noticeable improvement in liquidity. The pre-tax profits reached JOD 3.202 million, compared to JOD 3.090 million in 2008.
The company’s operational revenues of shipping activities during 2009 reached JOD 17.150 million compared to JOD 14.075 million in 2008, an increase of JOD 3.75 million, representing 21.85%.
On his part, Mr. Armoush said: “building on our strengths and commitment to perform allowed us to continue with stable vision throughout the challenges, and as we are proud of the previous year achievements, we are focusing our efforts to realize all our objectives and set goals for 2010”. He added that the company’s investment portfolio was able to override the fall downs of the stock market of Amman, and said: “We believe that our company succeeded in reorganizing its’ investment portfolio while minimizing the impact of prices recession”.
The company is looking forward to maximizing the progress through all its subsidiaries and affiliates, and the year 2010 will witness the opening of its hotel project in Aqaba, and several other projects in the marine and shipping related industries are under study for implementation during the coming period.
Concluding the meeting, Mr. Armoush expressed his appreciation and gratitude for the attendees and the shareholders for their support and unrelenting belief in the company, and he assured that the company’s management shall always seek to meet their expectations and aspirations for more success and profitability.

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