Dubai – Mubasher: GFH Financial Group on Wednesday said that it enjoys a sound financial position and its performance remains strong.
The Bahrain-based investment firm noted that it has been affected negatively in the last period due to the international and regional market pressures and margin calls that have impacted investors in the stock markets, according to a statement to the Dubai Financial Market (DFM).
“Performance growth is expected to continue for this year and the upcoming years in line with the business plan and targets disclosed to the markets earlier on 2nd May 2018, through credit rating agencies and quarterly performance analysis webcasts,” the statement highlighted.
GFH Financial stressed its commitment to maintain its dividend distribution policy as in the past years, which will be subject to necessary approvals of the Board and the Central Bank of Bahrain.
GFH last reported an increase of 18.6% in net profits during the first nine months of 2018 compared to the same period in the prior year.
The group’s net profits surged to $103.44 million in 9M-18 from $87.23 million in 9M-17.
By 10:18 am UAE time, GFH’s stock fell 8.35% at AED 0.73.
