Dubai - Mubasher: GFH Financial Group has reported a 14% year-on-year increase in net profit attributable to shareholders during the first quarter of 2018, registering $36.48 million.
The company’s consolidated revenue rose 17% to $60.45 million in Q1-18 versus $49.59 million in the year-ago period, according to a company statement released on Sunday.
“We are now working on some strategic exits and the listing of GFH’s shares in new markets to generate healthy revenues to our shareholders,” GFH Financial Group’s chairman Jassim Alseddiqi commented.
Operating profit surged 48% to $38.57 million in the three-month period ended 31 March, in comparison with $26.21 million a year earlier.
Meanwhile, total operating expenses declined to AED $21.88 million from January to March versus $23.37 million in Q1-17, the Dubai-, Bahrain-, and Kuwait-listed company revealed.
“No doubt that our strong results for the first three months of 2018 reflect the group’s ability to enhance its performance even under the current changes prevailing in the region,” GFH’s CEO Hisham Alrayes said.
Earnings per share reached $1.02 in the first three months of the year, compared to $1.28 in the comparative period of 2017.
