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Gulf Investment turns a profit in Q4

Gulf Investment turns a profit in Q4
(Photo credit: Arabianeye - Reuters)
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Mubasher: Gulf Investment Services Holding turned into profits in the fourth quarter of 2016, according to the unaudited financial results.

The company announced OMR 293,980 earnings in Q4 against a net loss of OMR 823,410 for the year-ago period.

Over the fiscal year 2016, the company registered OMR 352,557 earnings versus OMR 1.21 million for the fiscal year 2015.

Revenues moved up 171.24% year-on-year to OMR 1.94 million from OMR 716,200, the company indicated.

Net profit for the first nine months of 2016 reached OMR 58,580, versus a net loss of OMR 390,860 for the same period of 2016, according to a bourse filing released Monday.