KUWAIT, 1 November 2006 — Global Investment House (Global) has recorded a net profit of $190 million for the nine months ending Sept. 30, 2006, which translates into an EPS of 86 fils, compared to 75 fils for the same period last year, whereas the total revenue for the period stood at $276 million.
Last year’s profit was $147 million, while revenue $185 million, according to a Global announcement yesterday.
Global is a full-fledged investment company incorporated in 1998 and falls under the regulation of the Central Bank of Kuwait.
Its board Chairman Anwar Abdulla Al-Nouri said that the nine-month period had been dynamic with many developments on the investment and product sides as well as on all geographic fronts. This contributed to the high revenue growth of 53 percent along with an increase of assets under management to $7 billion and total assets of $2 billion.
“Global created the third real estate investment fund investing in Asia during the past quarter, adding to similar funds that operate in the GCC region and the United States. It also launched an Islamic Retakaful and serviced apartments companies. In addition, the company received a major syndicated loan from an international bank that was a proof to its financial stability, creditability, and investors’ trust,” he added.
Furthering its geographic reach, Global obtained a license to open a full-fledged investment company in Doha, Qatar.
