JEDDAH, 26 January 2005 — Global Investment House (Global) has announced a net profit of 21.3 million Kuwaiti dinars ($72 million) for 2004 fiscal year, which translates into an EPS of 104 fils. Global’s profits were primarily derived from risk-free capital comprising commissions, public offerings and consulting fees.
The company’s board has approved to recommend to the general assembly to distribute 70 percent cash dividends and 10 percent stock dividends, in addition to a capital increase of 20 percent at 100 fils par value and 500 fils premium. “Since its inception in 1998, Global has adopted an income strategy based on fees which helped increase its income year after year, despite market fluctuations. Global will remain on this path, as we work to maintain our pioneering and vital role in developing the capital markets in Kuwait and the region,” Anwar Al-Nouri, chairman of the board, said.
“Since we started, we’ve been conducting studies and research in this sector and introducing various investment tools that benefit the investor and our shareholders. Global adheres to the highest level of transparency and professional standards known within the industry.” Global’s policy during the year focused on geographical expansion, which does not stop at its own capabilities, rather surpassing it to encompass additional skills and resources.