SICO posts BD1.1m Q1 2007 net income

DUBAI — Bahrain-based Securities and Investment Company (SICO) recorded a consolidated net income of BD1.102 million for the first three months of 2007, with assets under management reaching BD133.5 million.

By A Staff Reporter

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Published: Thu 3 May 2007, 8:39 AM

Last updated: Sat 4 Apr 2015, 10:55 PM

SICO announced a net profit of BD1.102 million for the first quarter of this year, an increase of 8.4 per cent when compared to 2006's first quarter profits of BD1.017 million.

Total income increased by 18 per cent to BD1.796 million (Q106: BD1.522 million) while earnings per share reached Bahrain fils 8, compared to Bahrain fils 7 for the corresponding period last year. Assets under management increased by 6 per cent to BD133.5 million (Q106: BD125.9 million). Assets under custody increased by 12.5 per cent to BD234.8 million from BD208.8 million in the first quarter of 2006.

Net interest income grew by 3.4 per cent over the same period last year to BD 121,000 (Q106: BD 117,000). Gains on trading securities amounted to BD 415,000 compared to BD 263,000 loss in the previous year). Dividend income grew by 75 per cent to BD 380,000 (Q106: BD 217 thousand) and other income, which includes brokerage commissions, corporate finance fees, assets under management fees and marketing commissions, dropped by 15 per cent to BD 833,000 thousand (Q106: BD 980,000).

Total expenses increased to BD 694,000 (Q106: BD505,000) reflecting increased staff, general and administrative expenses.


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