Mubasher: The net profits attributable to the shareholders of GFH Financial Group hiked by 86.77% to $84.22 million in 2021, compared to $45.09 million in the earlier year, according to the company's consolidated financials for the year ended 31 December 2021.

The company's total income increased to $398.75 million in 2021 from $323.39 million in 2020.

The earnings per share (EPS) settled at 2.5 US cents last year, versus 1.33 US cents in 2020.

Meanwhile, the board has recommended a total cash dividend of $60 million at 6.07% on par value, divided into 4.57% cash dividends and 1.5% stock dividends for the shareholders.

The Chairman of GFH, Jassim Alseddiqi, said: "Our results also continue to reflect the strength of our strategy and the quality of the portfolio of assets we have built and expanded over the past year across the region, US, UK, and Europe."

Meanwhile, the Group CEO of GFH, Hisham Alrayes, commented: "Investing in downturn-proof assets has enabled us to continue to generate steady streams of income for the Group and our investors despite the remaining difficulties from the pandemic and its impact on global markets."

It is noteworthy to mention that during the first nine months (9M) of 2021, the group has recorded a 160.42% increase in net profits attributable to the shareholders to $60.34 million, compared to $23.167 million in the year-ago period.