Qatar’s GIS posts 70.1% surge in Jan-Sep profit

28 Oct 2012

(MENAFN) Qatar’s Gulf International Services (GIS) stated that net profit in the January-September period hiked 70.1 percent from a year ago to USD87.34 million, reported The Peninsula.

The biggest service group in the country posted a revenue of USD408 million, representing a growth of 38.3 percent from last year’ same period.

It added that premiums and net commission income of its insurance subsidiary jumped 13.4 percent to USD120.64 million.

The group’s aviation segmental revenue grew 11.2 percent from last year to USD101.51 million.

GIS share of revenue from the drilling segment jumped 27.7 percent to USD124.95 million.

It is worth noting that GIS has interests in a broad cross-section of industries, including insurance, re-insurance, fund management, onshore and offshore drilling, accommodation barge, helicopter transportation and catering services.

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