Al-Nawadi Holding Company announced its financial results for the fiscal year ending December 31, 2024, and the financial statements were approved during the general assembly meeting held on Tuesday, February 18, 2025.

The Al-Nawadi Group achieved a net profit of KWD 6.9 million in 2024, with earnings per share of 30.07 Fils, compared to a net profit of 6.3 million dinars and earnings per share of 27.54 Fils in 2023. During the same period, total assets increased to KWD 287 million, up from 189 million dinars in 2023, marking a growth of 52%. 

Shareholder equity also rose by 6% to reach KWD 60.7 million compared to 57.2 million dinars in 2023.

The board of directors' recommendation for a cash distribution of 15% of the issued and paid-up capital to registered shareholders at the time of the ordinary general assembly meeting was approved.

Additionally, a recommendation for a 5% distribution of bonus shares from the authorized, issued, and paid-up capital was made, pending approval from the upcoming extraordinary general assembly.

Nawaf Al-Rifai, Chairman and CEO of Al-Nawadi Holding, stated: "This achievement is thanks to the wise vision of the esteemed board members, the efficiency of the executive management team, and the dedication of our employees. This result reflects Al-Nawadi Holding's firm commitment to its shareholders and their rights. This decision comes considering the company's strong financial results while maintaining a good level of assets and liquidity. We look forward to continuing to achieve growth and success in the coming years."

Al-Rifai noted that the general assembly approved all items on the agenda for the ordinary general assembly for the fiscal year ending December 31, 2024.

He said: The company has maintained its upward trajectory in financial growth over the past year. Throughout the past months, we laid solid foundations for our presence in new areas and destinations in Kuwait, enabling us to expand further and achieve sustainable revenues and profit growth in the upcoming years, which will affirm our leading role.