Alkhabeer Capital records six per cent increase in net income
Saudi-based alternative investment manager Alkhabeer Capital, has announced a total operating income increase of 16 per cent to SAR 207 million, while net income grew by six per cent to SAR 71 million for FY2016.
At the end of December 2016, total assets had increased to SAR 1.61 billion, up 16 per cent from the end of the previous year. Shareholders’ return on equity continued its upward trajectory to reach eight per cent. Total assets under management grew by 10 per cent to SAR 4.4 billion, while the return on investment raised to 12.6 per cent.
“Given the continuing backdrop of economic uncertainty, market volatility and geopolitical tensions, which adversely affected investor sentiment during the year, this constitutes a significant achievement. Based on these results, the Board of Directors will be discussing a proposal of dividend distribution to shareholders, which will mark the fourth consecutive year of dividends to be paid by Alkhabeer Capital, and recognises the unwavering loyalty and support of our shareholders,” said Announcing these results, the Chairman of Alkhabeer Capital, Musaad Mohammed Aldrees. “On behalf of the Board of Directors, I would like to express my sincere appreciation to the Company’s shareholders, clients and business partners for their continued loyalty, support and encouragement; to the Kingdom’s Capital Market Authority for its constructive guidance; and to the management and staff of Alkhabeer Capital for their dedication, commitment and professionalism in another highly successful year.”