Abu Dhabi-Mubasher: Abu Dhabi-based Reem Investments reported a 14% decline in its annual profits in 2015, according to a recent statement.
Net profits reached AED 211 million ($57.4 million) in 2015, compared to AED 245 million ($66.71 million) in 2014.
“During 2015, where oil prices and UAE equities were down, the investment portfolio made an effective contribution to the net profit,” Reem’s Managing Director Abdulhamid Saeed said.
The company is also in advanced stages of commencing new development projects, Saeed added.
The shareholders approved the board's proposal to distribute 12% cash dividend for 2015.
