Despite this rise in profits, the total comprehensive income during the same period decreased by 17.4% to BD2.7 million (US$7.16 million). The profit from investments also grew by 30% to BD4 million (US$10.6 million).
However, there was a slight decrease in both shareholder equity and total assets by 3.4%, as of September 30, 2023, compared to the end of the previous year.
In the third quarter alone, the net profit jumped by 62.5% year-on-year to BD1.37 million (US$3.64 million), mainly due to gains from the disposal of an investment, although the total comprehensive income for the quarter fell by 44%.
The company's leadership, including Chairman Farouk Al Moayyed and Vice Chairman Abdulla Buhindi, acknowledged the strong performance of the company’s investments and expressed satisfaction with the overall results.