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GFH's profits up 18.5% in Q1-22

GFH's profits up 18.5% in Q1-22
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Mubasher: The net profits attributable to the shareholders of GFH Financial Group totalled $19.11 million in the first quarter (Q1) of 2022, an annual growth of 18.50% from $16.12 million.

Total income edged up by 0.47% to $90.81 million in the first three months (3M) of 2022 from $90.38 million in the same period a year earlier, according to the financial results on Sunday. 

The earnings per share (EPS) settled at $0.54 in Q1-22, versus $0.52 in Q1-21.

Ghazi Al Hajeri, Chairman of GFH, said: “As the group continues to focus on Islamic finance and asset management in the ever-changing global financial environment, we look forward to continuing to keep the pace with the opportunities in this field as well as continuing to invest in key markets in the GCC and the US.”

Meanwhile, Hisham Alrayes, CEO of GFH, noted: “Several key deals reflected positively on our income during the quarter, including the placement of our medical offices and logistics portfolios in the US."

In 2021, GFH recorded net profits attributable to the shareholders worth $84.22 million, higher by 86.77% than $45.09 million in 2020.

Besides being listed on the Dubai Financial Market (DFM), the group is trading on Bahrain Bourse and Boursa Kuwait while having plans to cross-list on both Abu Dhabi Exchange (ADX) and the Saudi Exchange (Tadawul).