Nass defies market conditions to post Q1 profit growth

Nass_CorpBahraini construction firm Nass Corporation has announced a net profit of BHD 1.938 million (US$5.1 million) for the first quarter of 2012, representing a slight rise from the BHD 1.827 million (US$4.8 million) posted for the same period in 2011

Nass Corporation chairman Abdulla Ahmed Nass said that the company had achieved a gross turnover of BHD 23.805 million (US$63.1 million) in the first quarter of 2012, which was lower that the BHD 24.896 million (US$66 million) posted in the first quarter of 2011, but 2012 profit margins were higher than they were for the same period of the previous year.

“Despite extremely adverse market conditions the company has been able to achieve a reasonable growth in profit and is confident of carrying forward its successful track record in the period to follow,” said Nass.

Established in September 2005, Nass Corporation has recently undergone an internal restructuring, which involved consolidating parts of the business and shifting its focus toward its core construction-related operations.

The company has also announced that it would take on the silver sponsorship role at the First National Occupational Safety and Health Conference, which has been scheduled to take place in Manama from May 22-24, 2012.

Nass Corporation managing director Sameer Nass remarked, “The ongoing development of international health and safety management systems has highlighted the importance of adopting an effective health and safety strategy.

“All sectors need to understand that an investment in occupational health and safety is in reality an investment in the future.

“As the region’s businesses begin to mature, health and safety becomes increasingly relevant to profit performance,” he added.

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