INOVEST Q3 profit jumps 31 per cent

Inovest yesterday announced financial results for its third-quarter reporting a 31pc increase in its consolidated net profit attributable to the parent shareholders to US$2.14 million from US$1.64m in the same quarter of last year. Earnings Per Share attributable to the equity shareholders of the parent company amounted to US cents 0.76 as compared to US cents 0.57 for the same period in 2017.

The company’s consolidated net operating profit increased by 40pc to reach US$2.10m in comparison to US$1.50m for the third quarter of 2017. The operating income increased by 16pc to reach US$4.63m in comparison to US$3.97m for the third quarter of 2017. Commenting on the results, Inovest Chairman Dr. Omar Al Mutawa said, “The Group’s performance within the past nine months gives us an appropriate level of optimism and assurance that we will close this year on a successful note despite regional economic fluctuations.