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Abu Dhabi Investment House (ADIH) chairman Jowa'an Awaidha Al Khaili announced a net profit of AED220 million (BD22.57 million) for the fiscal year 2007, which is 47 per cent higher than last year - distributing a cash dividend of 30 per cent (0.3 AED per share).
Mr Al Khaili said: 'This is the most successful year for ADIH in its third fiscal year. As a fairly young company, ADIH has managed to establish itself as a leading boutique investment house regionally and globally.
'This is attributed to clear strategy and business model focused on identifying unique investment opportunities that yield high risk adjusted return to investors. This was also assisted by our relationship with the investors, exploiting market conditions with robust economies and flexible government strategies, where ADIH operates.'
The operating income for the year is AED304 million due to ADIH's investment under strategic plans to build the company's capabilities, developing new business, opening of new offices in Bahrain and Geneva and on the development of the company's human resources.
Return on Capital (ROC) has increased significantly. In 2005, ROC was 20 per cent, increasing to 75 per cent in 2006, and further growing to 110 in 2007, while net assets per share increased by 58 per cent in 2007 to AED3.03 per share compared to AED1.92 per share in 2006.
The balance sheet grew impressively to AED853 million - an increase of AED 139 million or 20 per cent compared to December 2006. This reflected strong business growth driven by increase in client investments in ADIH overall funds and projects.
On the social responsibility front, ADIH was involved in several charity events and community service-related activities that included events for the disabled, Zakat and youth activities.
ADIH_board member managing director said: 'Our 2007 results further demonstrate ADIH's fast and steady growth, as we continued to diversify our portfolio and seized major exit opportunities where possible.
'Despite the bank's relatively young age, it has succeeded in positioning itself as a major player in the region. ADIH will continue to originate unique funds, including entertainment cities in India, China and North Africa and other funds related to real estate and other business lines, particularly in asset management, private equity and corporate finance.
