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The Board of Directors of Renaissance Services
approved the annual audited results for the year
ending 31st December 2006. Mr. Samir J Fancy, the
chairman of the Board of Directors stated that “2006
was the 5th successive year of record results for your
company with Revenue up from R.O. 106.4 million (US$
276.4 million) to R.O. 142.9 million (US$ 371.2
million) and Profit After Tax (PAT) and Minority
Interests up from R.O. 13.787 million (US$ 35.8
million) to R.O. 14.039 million (US$ 36.5 million).
Profit from operations grew from R.O. 16.406 million
(US$ 42.6 million) to R.O. 21.807 million (US$ 56.6
million), while EBITDA was up from R.O. 28.440 million
(US$ 73.9 million) to R.O. 33.589 million (US$ 87.2
million).”
The Board of Directors has also recommended a dividend
of 25% consistent with last year. This will be paid
out as 15% cash dividend and 10% stock dividend. “This
rewards shareholders in the current term, whilst
conserving the necessary resources to drive enduring
shareholder value”, Mr. Samir Fancy, the Chairman, has
said.
Notes:
1. These audited financial results are subject to
approval by shareholders at the Annual General
Meeting proposed to be held on 28 March 2007.
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