Mubasher: Ithmaar Holding, a Bahrain-based holding company, has reported a 20.4% year-on-year growth in its net profits for the first half of 2019.

Net profit reached $13.03 million during the six-month period ended 30 June 2019, versus $10.82 million in H1-18, according to a press release.

The company’s net profit attributable to equity holders for H1-19 stood at $8.37 million, rising by 72.5% from $4.85 million for the same period last year.

Total income grew by 7.5% year-on-year to $246.66 million in the January-June period of 2019 from $229.34 million, Ithmaar said.

Moreover, operating income increased by 3.2% to $143.98 million, compared to $148.68 million in H1-18.

Earnings per share (EPS) hit $0.17 during the first six months of the year, versus $0.29 during the same period in 2018.

In the second quarter of 2019, the company has generated a net profit of $4.41 million, compared to $6.01 million in Q2-18.

Net profit attributable to equity holders for Q2-19 amounted to $1.26 million, down 60.6% year-on-year from $3.20 million.

EPS for Q2-19 slipped to $0.04, compared to $0.11 for the quarter period in 2018.

Total income rose by 4.8% to $120.69 million during the three-month period ended 30 June 2019 from $115.19 million in Q2-18.

Operating income shrank by 11.3% during the April-June period of 2019 to $67.90 million from $76.53 million in the same period in 2018.

Ithmaar Holding, listed on Bahrain Bourse (BHB), Boursa Kuwait, and the Dubai Financial Market (DFM), previously announced that its profits attributed to shareholders for Q1-19 climbed by 329% to $7.106 million from $1.655 million in Q1-18.