Mubasher: The financial statements of the Bahrain-based Ithmaar Holding showed a net profit attributed to shareholders worth $3.68 million over the third quarter (Q3) of 2019, against a loss of $2.12 million in the same quarter in 2018.
The increase in profit is ascribed to the company’s higher basic income from unrestricted investment accounts, in addition to the increased revenues from Murabaha and other finances, according to a bourse statement on Thursday.
Revenues grew by 23.2% to $135.63 million in Q3-19, when compared to $110.1 million a year earlier.
During the first nine months of 2019, profits attributed to shareholders leapt by 341.2% to $12.04 million from $2.73 million in the same period last year, while revenues rose by 12.6% year-on-year (YoY) to $382.29 million in the period from January to September of the same year from $339.45 million.
During the first half of 2019, the company’s net profit reached $13.03 million, versus $10.82 million in H1-18.
Ithmaar Holding is listed on Bahrain Bourse (BHB), Boursa Kuwait, and the Dubai Financial Market (DFM).
