GFH Financial Group recorded a net profit attributable to shareholders of $ 8.11 million during the third quarter, compared to $ 19.84 million during the third quarter of 2019, a decrease of 59.1%.
This decrease is mainly due to the outbreak of the “Covid 19” epidemic, which affected all the group’s business lines. The value of earnings per share was 0.24 cents, and the consolidated net profit was 9.92 million dollars, a decrease of 42.4%.
The value of the total income achieved reached 214.10 million dollars, and despite the decrease in income by 12.6%, all business lines contributed to achieving income, despite the difficult market conditions that prevailed during the year 2020. The value of the total income achieved during the third quarter amounted to 67.58 million dollars, down by a percentage 21.3%.
Jassim Al-Siddiqi, Group Chairman, said: “For the first nine months, we were not affected much, given the diverse nature of the group’s business model and the ability to resist during periods of decline. While the net profit during the period was affected by the outbreak of the “Covid 19” epidemic, the group’s ability to achieve good income and good results is an important indicator of the strength of our strategy and the continuous progress we are achieving across every line of our business.
Follow the economic statement via Google News