The annual general meeting (AGM) of National Detergent Co (NDC) has approved a dividend distribution of 40 per cent for 2013.
The AGM, held at the Grand Hyatt Hotel on March 16 in the presence of the board chairman Redha Baqir al Lawati, board members and the company's top officials, also approved the report of the board, the auditor's report, the balance sheet, and the profit and loss statement for the financial year ending December 31, 2013.
NDC posted a net profit of RO1.40mn for the year ending December 31, 2013. The company registered sales revenue of RO21.70mn in 2013, compared with RO21.01mn in 2012. NDC's profit from operations in 2012 was RO0.98mn.
Profit before tax from operations for 2013 was RO1.19mn, while in 2012 it was RO0.76mn.
A press release on Monday also said that NDC's flagship brand Bahar has further improved its market position against multinational brands in the sultanate on consistent quality and consumer acceptability. Some of the export markets registered consistent growth during 2013, while the new home-care products performed well in the local and export markets. The additional powder capacity of the Sohar plant has helped in exploring new markets and tapping the available opportunities in the existing markets, the release added.
NDC has initiated work for the setting up of a new liquid plant in Sohar Industrial Estate - which will be completed by April 2014.
© Muscat Daily 2014
