Alkhabeer Capital ("AKC") - Results of the Annual General Meeting

DUBAI, UAE, May 8, 2012 /PRNewswire/ --

Strong results coupled with optimism for sustainable long term growth

At the Annual General Meeting for Alkhabeer Capital, a Saudi based asset management and investment firm providing world-class Sharia compliant investment services, which was held on Wednesday 2 May 2012, Ammar Shata, the Executive Director & Chief Executive Officer made the following statement:-  

"I am delighted to report that 2011 was an excellent year for Alkhabeer Capital.  The group's revenues grew by 18% to SR 64.6 million (2010: SR 54.8 million) reflecting strong new business growth across the group. Net profits increased by 74% to SR 19.1 million (2010: SR 11 million) driven by the growth of assets under management and robust investment returns with a strong Net Profit Margin of 30% (2010: 20%).

Overall, as reported in our full year results, our Company's investments increased by 71% to SR 559.5 million (2010: SR 327.4 million) driven by strategic investments in Real Estate, Capital Markets, Asset Backed securities and Unlisted Equities in addition to Capital appreciation of these investments.

I am pleased to highlight that our Asset Management business performed strongly with assets under management increasing by 169% to SR 1.4 billion (2010: approximately SR 535 million) with a range of new funds launched across different asset classes such as the Alkhabeer Global Commodity Fund and the Alkhabeer GCC Equity Fund.

In addition to our financial performance, we have invested across AKC disciplines whereby we have strengthened our product development and placement teams to cater to the phenomenal growth that we are experiencing whereby our client base has increased by 247%.  

We have started 2012 very well and are committed to providing our client base with innovative Sharia compliant investments products and services that focus on the Global & Local Capital Markets, Real Estate, and Private Equity sectors.  

We are well positioned for steady long term growth, driven by the demand for quality Sharia compliant investment solutions and I look forward to reporting further updates shortly."

About Alkhabeer Capital

Alkhabeer Capital is a boutique investment & asset management firm that provides world-class Sharia compliant financial products and services that help institutions, family groups and qualified investors access and allocate capital in ways that deliver real and enduring economic value.

It is licensed by Saudi Arabia's Capital Market Authority (CMA) with an international team of investment specialists, who provide best in class Asset Management, Corporate Finance and Wealth Management solutions.

Alkhabeer Capital has offices in Jeddah and Riyadh.

For more details please visit Alkhabeer Capital website: http://www.alkhabeer.com

For media enquiries, please contact:

Mohammed Hajjar
Chief Business Development Officer- Communication
Alkhabeer Capital
Tel: +966-2-658-8888

Shane Dolan or Racha Mhanna
FTI Consulting
Tel: +971-4-43-72-100