Abu Dhabi, UAE, 28 March 2012:  The Board of Reem Investments PJSC, the Abu Dhabi-based investment company, has announced profits of AED 159 million for the financial year 2011 at its annual general meeting on 27 March 2012. This represents a return on equity of 4% and an EPS (Earnings Per Share) of AED 2.05.

Commenting on the company’s financial performance, its Chairman, H.H. Sheikh Tahnoon Bin Zayed Al Nahyan, said: “Reem Investments had continued to distinguish itself in these challenging times by delivering positive results based on strong financial fundamentals.

“The company has recorded profits in all 7 years since inception in 2005. Our net profit of AED 3.6 billion since 2005 represents 2.4 times over the original capital of AED 1.555 billion. In addition, the Board of Directors is proposing a 10% dividend distribution based on the new capital of AED 777.5 million. With this proposal, the company would have distributed AED 1.477 billion or 95% of the original invested capital back to the shareholders over a period of seven years.”

In his annual report, the company’s Managing Director, Abdulhamid M. Saeed explained that in 2011, the company’s financial investments contributed a net gain of about AED 109.9 million. On the real estate front, the company recognised AED 281.9 million in revenue from land sales. A total of 43 and 19 plots were handed over in Najmat and Rawdhat respectively.

Moving forward in 2012 he said the team will be moving into warehousing and the self-storage sectors and private equity fund management as well as creating new demand for its land bank. In pursuit of these initiatives, the company will continue to strive towards protecting and enhancing the values of its assets, and returning better returns to its shareholders.