Jadwa Investment has announced its preliminary financial results for the fiscal year ending December 31 2013. The company posted net profits of SR165.4 million, an increase of 15 percent over 2012.

Net revenues were SR322 million in 2013, representing an increase of 13 percent over 2012.

Total shareholders’ equity at the end of 2013 reached nearly SR1.48 billion, a cumulative increase of almost 300 percent since Jadwa’s establishment in 2006, which at that time was SR500 million.

Jadwa Investment‘s shares are held privately by a group of well-known Saudi investors and a Malaysian institution.

During its most recent meeting, Jadwa Investment’s board of directors recommended a cash dividend of SR1.50 per share, which represents 15 percent of the nominal share value, bringing the company’s total dividends paid out since its launch in 2007 to SR6.00 per share or a total of SR340 million.

The board also recommended increasing Jadwa’s capital through a 1-for-2 share split, once all necessary approvals have been secured.

The preliminary results reflect Jadwa Investment’s strong performance in 2013, and demonstrate the company’s continuous profitability and growth in shareholders’ equity for the past seven years.

In particular, assets under management (AUMs) were up by 48 percent to SR16.3 billion as of December 31 2013, compared to SR11 billion in 2012.

Jadwa’s investment banking division was the most active financial adviser for public market M&A transactions in Saudi Arabia, having advised on four transactions with a combined value exceeding SR2.5 billion.

Meanwhile, in the company’s private equity division, Jadwa’s portfolio companies continued to deliver notable results, with more than SR136 million paid in dividends in 2013 and a combined portfolio dividend distribution to investors of more than SR500 million over the past six years.

Commenting on the financial results, Adib bin Abdullah Alzamil, chairman of Jadwa Investment, said: “2013 saw record profits for Jadwa Investment, supported by the Kingdom’s booming economy across a number of key sectors. In addition, our clients’ confidence in our products and services has had a marked impact on Jadwa Investment’s growth and success. We also owe a great deal of these achievements to the relentless work and dedication of our expert professional teams.”

The chairman added: ““We have continued to introduce the latest systems and technologies to our financial management, corporate governance and resources management. These enhancements have supported our business divisions in achieving positive returns and sustainable business growth.”

Alzamil added: “I would like to thank our management team for their work and congratulate them on these impressive results. I would also like to thank my colleagues on the board of directors for the support they have shown to the executive team, which has ultimately created a favorable environment to execute our strategy. Moreover, our one-team spirit has generated rewarding investment opportunities with the highest standards of corporate governance and manageable risk, thereby achieving higher returns for investors.”

Alzamil said: “We will continue to capitalize on our unique position as an enabler to the Saudi economy, growing our business and delivering value-added investment opportunities for our clients and shareholders, thanks to our impressive capabilities and a promising pipeline. We will also continue to contribute toward Saudi Arabia’s diversification and the well-being of the communities in which we operate.”