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GFH net profits grow to $72.5m in H1

GFH net profits grow to $72.5m in H1
Consolidated net profit in Q2-18 stood at $36.5 million
GFH
GFH
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Mubasher: GFH Financial Group (GFH) achieved an increase of 16.7% in net profits attributable to shareholders during the first half of 2018 compared to the same period a year ago.

Earnings totalled $72.5 million in H1-18 compared to $62.1 million in the same six months of 2017, according to a recent official statement.

GFH, which is listed on Bahrain Bourse (BHB), Boursa Kuwait, and the Dubai Financial Market (DFM), reported a consolidated net profit of $73.4 million in H1-18, an incline of 12.1% when compared to $65.5 million in H1-17.

Earnings per share (EPS) for H1-18 reached 2.02 cents compared to 2.51 cents in the same half last year.

During the second half of 2018, GFH’s net profit attributable to shareholders soared by 19.2% to $36 million from $30.2 million in Q2-17.

Consolidated net profit in Q2-18 stood at $36.5 million compared to $32 million in Q2-17, a year-on-year growth of 14.1%.

GFH’s EPS in Q2-18 stood at 1.00 cents compared to 1.22 cents during the comparable period in 2017.

Total consolidated revenues increased by 12.5% to $124.2 million in H1-18 compared to $110.4 million in H1-17, primarily backed by revenues generated from its investment banking business.