TNI posts 92% profit loss
In a reflection of the unfortunate financial climate still plaguing many investment firms, Abu Dhabi company The National Investor has seen a 92% decrease in profits this year over last year. The company suggests the recent turmoil in many Middle Eastern and North African countries, along with the still-recovering global financial crisis, are to blame. Net profits dropped from AED30.8 million to AED2.2 million in a single year.
The chairman of TNI, Abdullah M Mazrui, noted that “our financial performance was adversely affected due to the regional footprint of our business,” but seemed to remain optimistic about the company’s prospects. The company must also contend with decreasing consolidated revenue, which fell 13%.
In a reflection of the unfortunate financial climate still plaguing many investment firms, Abu Dhabi company The National Investor has seen a 92% decrease in profits this year over last year. The company suggests the recent turmoil in many Middle Eastern and North African countries, along with the still-recovering global financial crisis, are to blame. Net profits dropped from AED30.8 million to AED2.2 million in a single year. The chairman of TNI, Abdullah M Mazrui, noted that “our financial performance was adversely affected due to the regional footprint of our business,” but seemed to remain optimistic about the company’s prospects. ...
In a reflection of the unfortunate financial climate still plaguing many investment firms, Abu Dhabi company The National Investor has seen a 92% decrease in profits this year over last year. The company suggests the recent turmoil in many Middle Eastern and North African countries, along with the still-recovering global financial crisis, are to blame. Net profits dropped from AED30.8 million to AED2.2 million in a single year.
The chairman of TNI, Abdullah M Mazrui, noted that “our financial performance was adversely affected due to the regional footprint of our business,” but seemed to remain optimistic about the company’s prospects. The company must also contend with decreasing consolidated revenue, which fell 13%.
