Bahrain: SICO reports $7.7mln net profit for H1
For the quarter, SICO's consolidated net profit attributable to shareholders grew 16 per cent year-on-year to BD1.5 million ($4m) in the second quarter of 2025 compared to BD1.3m ($3.5m) recorded in the same three-month period of last year.
The improvement is mostly related to the increase in net investment income during the quarter compared to the corresponding period last year, due to favourable global market conditions.
Earnings per share (EPS) were 3.73 fils in the second quarter of the year versus 3.23 fils in the comparable quarter of 2024.
SICO reported total comprehensive income of BD1.7m for the second quarter of 2025, compared to a total comprehensive income of BD1.2m booked in the same quarter of last year, representing an increase of 39pc.
Total operating income for the second quarter of 2025 increased by 17pc to BD5.7m as compared to BD4.9m achieved in the same period of the previous year.
On a year-to-date basis, SICO recorded consolidated net profits attributable to shareholders for the first six months of 2025 amounting to BD2.9m ($7.7m), representing an 8pc decline from the BD3.2m ($8.4m) recorded in the first half of 2024.
This decrease was primarily driven by lower brokerage activities during the period, reflecting reduced investor appetite for trading amid prevailing market uncertainty. EPS were 7.15 fils for the first six months of 2025 compared to 7.77 fils for the same period of 2024.
SICO reported total comprehensive income of BD3.1m for the first half of 2025, as compared to a total comprehensive income of BD3m booked in the first six months of 2024, reflecting a 2pc increase.
Total equity attributed to shareholders stood at BD73.8m as of June 30, 2025, a slight decrease of 0.3pc compared to BD74m recorded at year-end 2024, noting that a dividend of BD3.2m was paid to the equity shareholders for the year 2024, during the first quarter of 2025, while total assets increased 29pc to BD531.6m as of June 30, 2025, up from BD411.2m as of end-2024.
SICO recorded net fee income of BD5.5m, a 16pc increase from BD4.8m achieved in the first half of 2024. Furthermore, net investment income stood at BD2.1m in the first six months of 2025, increasing 40pc from BD1.5m last year.
Meanwhile, brokerage and other income dropped 22pc to BD1.6m compared to BD2m in first half of 2024, due to market volatility resulting from tariff uncertainty in late April and heightened geopolitical tensions in June 2025.
On a gross basis (including leverage) SICO's assets under management (AUMs) rose 9pc to BD3 billion in the first half of the year compared to BD2.8bn at end-2024.
The growth in AUMs was driven by expansion in client base together with additional inflow from existing clients across asset classes.
Commenting on the second quarter performance, SICO chairman Abdulla Kamal said: 'SICO's performance in the second quarter of 2025 reflects the strength of our diversified platform and our ability to navigate evolving market conditions with discipline and foresight. Despite a more challenging macroeconomic and geopolitical backdrop, we have continued to deliver value through a prudent investment approach focused on generating positive returns while managing elevated risk levels.
'This reflects our firm commitment to our strategic objectives, which aim to drive sustainable long-term growth for our clients and shareholders. Our consistent recognition by global institutions is a testament to the trust we've built with our clients and stakeholders, and to the strategic clarity that guides our decisions.'
SICO Group chief executive Najla Al Shirawi added: 'We are pleased with our second quarter performance, driven by robust investment returns and sustained momentum across our core business lines. Surpassing $8bn in assets under management is a major milestone, reinforces our commitment to delivering long-term value to our clients.
'We also recorded strong growth across all revenue streams, including investment income, asset management fees, and investment banking revenues. Our balance sheet remains robust, and with a healthy liquidity position, we remain well-positioned to capture future growth opportunities as markets continue to evolve.'
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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