GFH Financial Group has logged net profits attributable to the shareholders worth $42.18 million during the first half (H1) of 2022, up 13.90% year-on-year (YoY) from $37.04 million.

The earnings per share (EPS) stood at $1.22 in the first six months (6M) of 2022, versus $1.21 in the year-ago period, according to the income statements.

Meanwhile, the total income rose by 1% to $182.76 million in H1-22 from $181.01 million in H1-21.

During the second quarter (Q2) of 2022, the net profit attributable to the equityholders of GFH surged by 10.20% YoY to $23.06 million, compared to $20.92 million.

The EPS declined to $0.67 in Q2-22 from $0.68 in Q2-21.

The total income reached $91.95 million during the April-June 2022 period, an annual growth of 1.50% from $90.62 million.

Hisham Alrayes, CEO of GFH, noted: “During the period, we acquired a majority stake in SQ Asset Management, a US-based student housing specialist, strengthening our presence in the US real estate sector and supporting new transactions of approximately $500 million in the student housing space during H1-22 alone.”

In January-March 2022, the UAE-based firm generated net profits attributable to the shareholders of $19.11 million, higher by 18.50% YoY than $16.12 million.

It is worth noting that the Bahraini firm is listed on the two UAE stock markets, including Abu Dhabi Securities Exchange (ADX) on which it commenced trading last May, in addition to Bahrain Bourse and Boursa Kuwait.

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