Gulf Investment House Co. GIH

17.10 -0.20 -1.16 %

Global Investment House 9-month net profit rises

(11/7/2018 8:28:00 AM)

Global Investment House, a regional asset management and investment banking firm, posted higher net profit for the nine months to September. The firm’s net profit rose to 4.7 million Kuwaiti dinars (Dh13.53 million) compared to 3.5 million dinars last year. Revenues rose to 11.3 million dinars.

Asset management generated 7.3 million dinars in revenues while assets under management (AUM) stood at 880 million dinars. “Despite significant challenges we have faced due to the volatile geopolitical markets and the activities leading to changes in the company’s shareholders’ structure, the nine months witnessed the successful completion of several transactions, [with the company] winning a number of new mandates and reporting positive results,” Sulaiman Mohammad Al Rubaie, chief executive officer, said in a statement.

Gulf News