Mubasher: GFH Financial Group net profits surged 391% to $5.4 million in the second quarter of 2016 from $1.1 million in the same period of the previous year].
The group's net profits hiked 248% to $11.5 million in H1-16 compared to $3.3 million in H1-15, according to a bourse filing on Saturday.
Hisham Al Rayes, GFH CEO said that the group achieved a remarkable progress in all their business fields, and especially in the sales of the new project in Bahrain financial harbour.
He added that the positive financial results accompanied the positive results of investments and commercial banking, according to the statement.
Al Rayes stated that his company will focus mainly on the vertical development of its real estate projects, including Harbour Raw and Villamar projects.
Consolidated net profits rose 31% to $17.9 million in the six-month period of 2016 from $13.7 million in the year-ago period, while it increased 4% to $7.9 million in Q2-16 from $7.6 million in Q2-15.
