Loghani: We Continue to Enhance our Leadership in Auto Market and Services

Loghani: We Continue to Enhance our Leadership in Auto Market and Services

Loghani: We Continue to Enhance our Leadership in Auto Market and Services18Jun

Aayan Leasing Holding is the Operational Arm of Aayan Leasing and Investment Co.

Aayan Leasing Holding held on Thursday June 5th, 2014 its regular general assembly with 100%attendance rate. In which a review of the most important achievements of the Company and its financial results for the fiscal year ending December 31, 2013. This came in a statement made ​​by Mr. Ahmed Issa Loughani, Chairman of the Board after the completion of the work of the Assembly.

Aayan Leasing Holding is considered the operational arm of Aayan Leasing And Investment Co. in the field of autos and its services; it is completely owned by Aayan Leasing And Investment Co. It manages Aayan's cars portfolio in Kuwait and abroad. As a holding company it owns several subsidiary companies mainly: Aayan Kuwait Auto Co. a company specialized in leasing and selling used cars, Budget rent-a-car, which is an international rent agency owned in Kuwait by Aayan and focuses on short and medium term leasing, Aayen Garage which is the main center specialized in providing repair and maintenance services to Aayan's fleet, it is equipped with up-to-date equipments and tools with two branches in Shuwaikh Industrial Area and Ahmadi city; Rekab rent a car also specializes in short and medium term leasing, Rawahel Transportation Co. whose scope of work include providing transportation services to Hajj and Omrah companies within and outside Saudi Arabia.

Financial Indicators

On this occasion Loghani said the company was able to realize positive results as profits rose by %110 at net profit of KD 5,036,546 million compared with profits of KD 2,400,715 million for fiscal year ending in 2012. Gross profit ratio to operational income reached %29 compared with %24.7 for 2012; while return on total assets was %7.65 compared with %4.14 in 2012.

In addition, Loghani added, total company assets increased by %13.57 to KD 65,823 million as in 31/12/2013 compared with KD 57,954 million as of 31/12/2012. And shareholders' equity increased by %44.5 reaching KD 16,357 as in 31/12/2013 compared with KD 11,320 million for the same period in 2012.