On behalf of the Board of Directors, Executive Management and myself, it gives me great pleasure to welcome you to the General Meeting, and I am pleased to put in your hands the Annual Report of the company for the fiscal year ending on December 31, 2019, which includes the most important achievements and developments that have passed The company has over the past year, in addition to the financial statements that reflect business results.
Our honorable shareholders:
The company continued to develop and increase the position of its products from the various building materials on the market and to follow the growth according to the plans laid down by the company’s management, and it continued in industrial investment according to the plans, as we sought to appoint qualified employees with expertise, which helps in achieving better results in the long term.
Sales in 2019 amounted to 48.34 million dinars, and the company’s profits for 2019 increased to 4.2 million dinars.
The Board of Directors, in its meeting held on 17/3/2020, recommended to the General Assembly to distribute dividends of 10%, i.e. 10 fils in cash per share for the financial year ended 31/12/2019.
In conclusion, I’d like to express my appreciation to the people in charge of the company’s management and employees as well as the confidence and support of our honorable shareholders to the members of the Board of Directors and many thanks to everyone who contributed to working on projects, hoping for all the progress and prosperity of all, and we all hope that the results of 2020 in a way that achieves ambitions Shareholders and achieve the desired profits.
Abdulaziz Ibrahim Al-Rabiah