(MENAFN- Pressat) Funding companies with high potential worth $5 Billion year
REMAR INDUSTRIES, a subsidiary of REMAR GROUP having the mission to looking for profitable companies with strong potential and funding them entering as a shareholder, posted a net profit of $128.5 Million for the first half of 2019, an increase of 20 percent over the same period one year earlier, where the net profit was of $107.4 Million.
The firm's net investment and other income increase by 24 percent to $62.2 million compared to $50.1 Million for the same period in 2018 and its gross investment increased by 9.9 percent to $1.58 billion compared to $1.44 Billion for the same period in 2018, the company said.
Manuel Ros, Chairman of REMAR INDUSTRIES, said the company has continued its growth momentum in 2019 achieving strong net profit from the first half of 2019, funding companies operating in major industries being affected by the lack of cash and supporting their growth adopting customized financial strategies.
'This has been achieved through prudent and consistent focus on an unwavering commitment to our partner's needs', he said in a statement.
'I am confident that REMAR INDUSTRIES remains one of the market leaders in terms of corporate support, I'm totally sure that acting in support of many talents, a lot of companies would be a reference in our large business community', the Chairman added.
'We will waiting the end of 2020 to have a clear picture but in REMAR GROUP we believe that facing to a huge economy needs, we should arise our investment budget for REMAR INDUSTRIES for 2020/21 up to $5 Billion to satisfy the most interesting proposals we received', Manuel Ros said.
The organization in the second quarter attracted over 200 international start-ups and innovators companies who require funds to develop projects in various industries from Technology, Medical, Commodity and other, the applicants hail from various markets including Saudi Arabia, Egypt, Lebanon, India, the UK, Canada, and the US.
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.