(MENAFN) Blominvest Saudi Arabia, an investment company specialized in asset management, recorded USD9.59 million net profit in 2014, marking a 16 percent increase compared to 2013, Saudi Gazette reported.
Blominvest's projects value increased to USD1.86 billion in 2014 against USD799.54 million in 2013. The company is also set to establish five new investment funds with a total value of more than USD800m.
"These results are certainly attributed to increasing the assets under management, reducing costs, restructuring some departments and focusing on profitable activities," CEO of Blominvest Saudi Arabia said.
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