FINANCIAL NEWS

SICO posts $3.4m Q1 profit

12 May 2010

(MENAFN) Securities & Investment Company (SICO) announced a net profit of $3.4 million for the first quarter of this year, compared to a loss of $442,853 posted in the same period a year earlier.

The Bahrain-based firm said a press statement that it has maintained a cautious position in the first quarter, which has helped boost its profitability.

SICO said that its net interest income during the year grew to $1.18 million up from $999,734, while fee and commission income grew to $1.36 million from $1.116 million.

Operating income grew threefold to $5.9 million, the company said. Total expenses, including both staff overheads and general administration and other expenses grew in the first quarter of this year to reach $2.54 million up from $2.22 million.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more

This site is registered on wpml.org as a development site.