FOR IMMEDIATE RELEASE
TNI ANNOUNCES RESULTS FOR 2010-11
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TNI declares net profit of AED 2.2 million for the year ending 31 March 2011
Abu Dhabi, UAE, 26 May 2011: The National Investor (“TNI”), one of Abu Dhabi's leading investment
management and advisory firms, today announced its results for the year ending 31 March 2011.
The consolidated revenues for FY 2010-11 declined to AED 161.9 million representing a year-on-year decrease
of 13%. Net profit declined to AED 2.2 million from AED 30.8 million in the previous fiscal year.
Abdullah M. Mazrui, Chairman of TNI commented, “Many would consider the past financial year to be the
most difficult since the implosion of the global financial system in late 2008.
These challenges were
exacerbated in the last quarter of our fiscal year by the unrest in the MENA region, and as a result, our financial
performance was adversely affected due to the regional footprint of our business.
“Despite these challenges, we have managed to preserve the integrity of our franchise and the capital of our
shareholders.
“We have remained resilient during the financial crisis and the sustainability of our business model has stood the
test of time. The UAE and Abu Dhabi in particular present an exciting growth opportunity and we believe TNI
has the necessary capabilities to succeed in this growing market and build a position of leadership.”
Speaking on the results, Orhan Osmansoy, CEO of TNI said, “After a promising start, the fiscal year ending
31 March 2011 has proven to be the third consecutive difficult year for our industry driven by an uncertain
economic and political environment in the MENA region. Against this backdrop, our consolidated revenues for
FY 2010-11 declined to AED 161.9 million. Our net profit declined to AED 2.2 million. Our profitability, despite a
decrease in revenues, was partly driven by stringent cost controls that management implemented during the
course of the year.
“I firmly believe we have demonstrated our resilience throughout the worst economic and financial crisis by
protecting and preserving the interests of our clients and shareholders, and delivering consistent performance.
Our prudent management of our balance sheet, fiscal discipline, effective risk management and strong
corporate governance ensured that the risk to the equity of our shareholders and capital of our clients was
mitigated. Our balance sheet and liquidity remain robust and we continue to lay the groundwork for positioning
ourselves in the front ranks of the investment management industry.
“We have a very strong franchise and we endeavor to capitalize on that strength to position TNI as the
preeminent investment management and advisory firm in the UAE.”
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THE NATIONAL INVESTOR (TNI)
ENDS
For more information please contact:
James Madsen
+971 4 367 6175
About The National Investor: The National Investor (“TNI”) is an Abu Dhabi-based investment company with over 16 years of
proven track record in investment banking and, investment management and advisory services. It is one of the leading capital
markets players in the Middle East and North Africa (“MENA”) region and an active investor in the local stock markets. The firm was
incorporated in 1994 as an investment company, and is licensed and regulated by the UAE Central Bank and the Dubai Financial
Services Authority.