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Ithmaar Holding posts 127% higher profits in H1-22; accumulated losses unveiled

Ithmaar Holding posts 127% higher profits in H1-22; accumulated losses unveiled
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Ithmaar Holding
ITHMR
2.13% 0.05 0.00

Mubasher: Ithmaar Holding, listed on Bahrain Bourse as well as Dubai Financial Market (DFM), logged net profits attributable to the equityholders worth $9.07 million in the first half (H1) of 2022, an annual leap of 127% from $4 million.

The total income reached $202.10 million in H1-22, higher than $178.25 million in H1-21, according to the income statements.

Furthermore, the basic and diluted earnings per share (EPS) rose to $0.31 in the first six months (6M) of 2022, versus $0.14 in the year-ago period.

During the second quarter (Q2) of 2022, the Bahrain-based firm turned to net profits attributable to the owners of $7.93 million, against net losses worth $4.85 million in Q2-21.

Additionally, the company’s total income enlarged to $110.90 million in the April-June 2022 period, compared to $89.79 million during the same period a year earlier.

The basic and diluted EPS stood at $0.27 in Q2-22, versus a loss per share of $0.17 in Q2-21.

Meanwhile, the accumulated losses amounted to $790.44 million as of 30 June 2022, accounting for 104% of the $757.68 million capital.

In January-March 2022, Ithmaar Holding reported an 87.20% year-on-year (YoY) plunge in net profit attributable to the shareholders to $1.13 million from $8.86 million.