Bahrain: Ithmaar Holding’s profits hike in H1-24; accumulated losses hit 110% of capital

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Bahrain - The net profits of Ithmaar Holding, which is listed on Bahrain Bourse as well, increased to $18.48 million in the first half (H1) of 2024 from $4.35 million in H1-23.

The company posted a total income amounting to $473.97 million in H1-24, an annual rise from $329.94 million, according to the consolidated financial results.

Basic and diluted earnings per share (EPS) hit $0.12 in the first six months (6M) of 2024, against a loss per share of $0.22 a year earlier.

Financials for Q2-24

In the second quarter (Q2) of 2024, Ithmaar Holding registered net profits valued at $2.56 million, higher year-on-year (YoY) than $2.30 million.

Total income hiked to $237.12 million in Q2-24 from $177.39 million in Q2-23.

Accumulated Losses

Ithmaar Holding suffered accumulated losses valued at $834.67 million as of 30 June 2024, accounting for 110% of the capital.

During January-March 2024, the dual-listed firm shifted to net profits valued at $6.84 million, against net losses of $3 million in Q1-23.