SICO H1 profit rises 19pc

Manama : SICO reported a 19 per cent jump in its net profit for the first half of 2018 to BD2.5 million from BD2.1m in the same period a year ago. Earnings per share rose to Bahraini fils 6.74 from 5.06 fils in the first half of 2017.

Total operating income grew by 19pc to BD6m, while total operating expenses, including staff overheads, general administration and other expenses, increased to BD3.2m from BD2.8m a year ago.

Total comprehensive income was BD 2.7m; representing an increase of 8pc from the comprehensive income of BD2.5m achieved in the prior year period.

Commenting on the results, Chairman of the Board, Shaikh Abdulla bin Khalifa Al Khalifa said: “SICO’s business lines enjoyed an active and successful first half, with highlights including a continuing upward trend in assets under management, with brokerage and investment banking maintaining their dominant market position, and the proprietary book posting a strong performance.”