Monday 06, March 2017 by William Mullally

Inovest celebrates 2016 'turn-around year' at its AGM

“Our performance within the past year was built on specific building blocks, and we harnessed the impetus of change to drive forward strategic initiatives that we believed would deliver results, and they have; by all accounts 2016 was a turn-around year for us,” said CEO Murad Al Ramadan.

At Inovest BSC’s annual general meeting, the Board recommended for a distribution of a seven per cent cash dividend, and approved the transfer of 10 per cent of net income attributable to shareholders to the statutory reserves. Consolidated net profit totaled $10.1 million, compared to a net loss of $48.1 million last year.

“Our performance within the past year was built on specific building blocks, and we harnessed the impetus of change to drive forward strategic initiatives that we believed would deliver results, and they have; by all accounts 2016 was a turn-around year for us,” said CEO Murad Al Ramadan.

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