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Gulf Investment’s profit up 15.5% in Q1

Gulf Investment’s profit up 15.5% in Q1
Omani Riyal (Photo credit: Arabianeye - Reuters)
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Mubasher: Gulf Investment Services Holding Company’s profits rose in the first quarter of fiscal 2016 by 15.5% to OMR 406,950 ($1.06 million) from OMR 354,910 ($921,370) in Q1-15.

Operating profit also grew by 9% to OMR 427,540 ($1.1 million) by the end of March 2016, versus OMR 392,430 ($1.01 million) in the same period of 2015.

Total revenue reached OMR 781,310 ($2.02 million) in Q1-16, 0.3% down from OMR 783,820 ($2.04 million) in Q1-15.

Total expenses also declined 9.6% to OMR 353,770 ($918,883) in the period, compared to OMR 391,390 ($1.02 million) a year earlier.

The stock rose in today’s early trading by 5.56%.