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Ithmaar Holding shifts to profits in Q1-24; accumulated losses near 69% of capital

Ithmaar Holding shifts to profits in Q1-24; accumulated losses near 69% of capital
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Ithmaar Holding
ITHMR
-8.33% 0.02 -0.00

Mubasher: Ithmaar Holding, which is listed on Bahrain Bourse as well, generated net profits attributable to the owners amounting to $6.84 million in the first quarter (Q1) of 2024.

The recorded net profits were against net losses worth $3 million in Q1-23, according to the financial statements.

Basic and diluted earnings per share (EPS) hit $0.24 as of 31 March 2024, versus a loss per share valued at $0.10 a year earlier.

Total assets hit $6.59 billion in Q1-24, up from $6.10 billion at the end of 31 December 2023.

Accumulated Losses

Dual-listed Ithmaar Holding reported accumulated losses valued at $832.22 million as of 31 March 2024, which represent 68.80% of the capital and lower than $838.06 million registered in Q4-23.