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Net profit in Q2 of 2015 ended June 30, was $7.6m, an increase of 70.2% compared to the same quarter last year. Investment income was the main contributor to the growth, according to the company.
BDF reported gross revenues of $37.1m compared to $36.6m in 2014, achieving a 1.5% growth. Chairnam Farouk Almoayyed said that the first six months profits were excellent and complemented the company’s operational and investment strategies. In addition, he said that the Board of Directors had recommended a cash dividend of 20% to the shareholders amounting to 5.3 US Cents per share.
Managing director Mr. Abdulla Buhindi added that profits from investments for the first year were $6m, an increase of 106.3% in the period and up from $2.9m the previous year. He also indicated that the investment portfolio decreased by 2.7% during the period due to the disposal of some investments.
