GIH reports net profits of $70m

KUWAIT — Global Investment House (GIH) announced that it has recorded a net profit of over $70 million (Dh256.9 million) for the first half of 2005, which translates into an EPS of Dh1.04, compared to Dh0.42 for the same period last year. The total revenue for the period stood at Dh 327 million.

By Staff Reporter

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Published: Sat 16 Jul 2005, 10:44 AM

Last updated: Thu 2 Apr 2015, 4:41 PM

Anwar Abdulla Al-Nouri, Chairman of the Board, said that the six months period has witnessed prominent investment achievements, in addition to the numerous regional and international recognitions given to Global, its management and products. He added that assets under management reached $4.8 billion. Talking about the company's main achievements during the first half, Al Nouri said that Global launched three new investment funds, privately placed five companies totaling to more than Dh1.45 billion. He stated that Global has launched the GCC Real Estate Fund, in co-operation with Alargan International Real Estate Company, the investment advisor to the fund. The fund intends to address investment needs arising from the growing demand of housing in the GCC.

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