• Home
• /
• Business

SICO posts consolidated net income of BD2.023m

129 million for the corresponding period in 2005. Total income for the first half of the year was BD 3.105 million, a 19.4 per cent decline from BD 3.853 million recorded for the first half of 2005.

Earnings per share was Bahrain fils 15 compared to Bahrain fils 25 for the same period in 2005. Assets under Management increased by 31.3 per cent to BD129.512 million for the first six months of the year up from BD 98.652 million as of December 31, 2005.

The first half of 2006 saw net interest income increase by 263 per cent to BD 636,000 versus BD 175,000 year-on-year. Loss on trading securities amounted to BD 866,000 for the 2006 period versus recorded gains of BD 1.948 million for the first half of 2005.

Dividend income grew by 35 per cent to BD 366,000 compared with BD 271,000 in the previous year. Other income, which includes brokerage commissions, corporate finance, and asset management registered a gain of 52.3 per cent from BD 1.382 million in 2005 to BD 2.105 million for the first half of 2006.

Total expenses for the six-month period were BD 1.082 million, a 49 per cent rise from BD 724 thousand reported during the 2005 first half. The increase is largely attributed to costs associated with staff and other related expenses as SICO continues its growth and the expansion of its industry leading brokerage, asset management, corporate finance and research teams.