Latest news with #IthmaarHolding
Zawya
06-08-2025
- Business
- Zawya
Ithmaar Holding witnesses lower profits in H1-25; accumulated losses exceed $827m
Mubasher: The net profits of Ithmaar Holding, listed on the Bahrain Bourse as well, dropped to $12.87 million in the first half (H1) of 2025 from $18.48 million in H1-24. The total income declined to $359.09 million in H1-25 from $475.79 million in H1-24, according to the financial results. Basic and diluted earnings per share (EPS) reached $0.05 in the first six months (6M) of 2025, versus $0.12 as of 30 June 2024. Results for Q2 In the second quarter (Q2) of 2025, the dual-listed company's net profits stood at $5.46 million, an annual surge from $2.56 million. Total income shrank to $177.12 million in Q2-25 from $238.31 million in Q2-24. The company posted accumulated losses valued at $827.07 million as of 30 June 2025, representing 109% of the company's capital. In Q1-25, Ithmaar saw lower net profits at $7.41 million, compared to $15.92 million in Q1-24.
Zawya
04-08-2025
- Business
- Zawya
BHB All Share Index sees modest growth in July
The Bahrain Bourse (BHB) All Share Index saw a modest 0.6 per cent gain in July, following a 1.2pc rise in June, to close the month at 1,955.63 points. Analysis by Kuwait-based Kamco Invest shows that the Financials Index, a key component of the overall market, led the gains with a 2pc increase, driven by strong performances from GFH Financial Group and Ithmaar Holding, which saw their share prices climb 9pc and 20pc, respectively. In contrast, the Materials Index declined by 3.8pc, mirroring a similar drop in its sole constituent, Alba. The Communications Services Index also posted a 1.6pc gain for the month, largely due to a 1.7pc share price increase for Zain Bahrain. Trading activity on the exchange saw a notable surge. The volume of shares traded more than doubled to 161.2 million, a 108.2pc increase from 77.4m shares in June. The total value of shares traded also jumped 58.3pc to BD28.9m. GFH Financial Group was the most traded stock by both volume and value. In economic news, Bahrain's non-oil imports rose 9pc in the second quarter of 2025 to BD1.5 billion. China was the largest source of imports, accounting for 14pc of the total, followed by the UAE and Australia. Non-oil exports, meanwhile, increased 12pc to BD997m. Saudi Arabia was the top destination for exports, making up 22pc of the total, followed by the UAE and the US. Zooming out, the GCC index continued its upward trend in July, with the MSCI GCC index rising 2.2pc for the month, its second consecutive monthly gain. The increase was driven by optimism over second-quarter earnings and broad gains across the region's exchanges. Dubai was the top-performing market, surging 7.9pc. Saudi Arabia was the only market to decline, falling 1.5pc as investor concerns about the impact of oil prices hovering around $70 a barrel outweighed positive quarterly earnings reports. Year-to-date, the GCC index is up 3.7pc, with most markets showing gains. Saudi Arabia and Bahrain, however, have seen declines of 9.3pc and 1.5pc, respectively. Among sectors, Real Estate led the gains with a 5.2pc increase, followed by Capital Goods and Banks, which rose 4.1pc and 3.7pc, respectively. The Telecom index also posted a 3.5pc gain. The Insurance sector experienced the biggest drop, falling 9.1pc. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
02-07-2025
- Business
- Zawya
Bahrain Bourse inches up for second straight month
Bahrain - The Bahrain Bourse All Share Index advanced 1.2 per cent in June, building on a modest 0.5pc rise in May, to close the month at 1,943.8 points. A report by Kuwait-based Kamco Invest says the uptick came despite a notable slowdown in trading activity, largely attributed to Eid holidays. Sectoral performance leaned positive, with four of seven indices recording gains. The heavyweight financials index rose 0.9pc, bolstered by strong showings from key constituents. GFH Financial Group climbed 10.6pc, while Kuwait Finance House-Bahrain gained 6.7pc, significantly contributing to the sector's overall improvement. Consumer discretionary emerged as the top-performing sector, surging 6.2pc to end June at 3,325 points. Two of its three component companies saw share price increases, driving the index's robust performance. Positive The materials index also posted a solid 3.7pc gain, solely attributable to a similar rise in Alba, its only constituent. These gains, alongside a 1.3pc increase in the real estate index, collectively supported the market's overall positive trajectory. Among individual stocks, Gulf Hotel Group led the monthly gainers, with its share price jumping 16.7pc. GFH Financial Group and Bahrain Car Park followed, up 10.6pc and 10.3pc, respectively. Conversely, Ithmaar Holding experienced the steepest decline, plunging 28.6pc. Solidarity Bahrain and Trafco Group also registered drops of 8.4pc and 7pc, respectively. Trading activity on the Bahrain Bourse saw a significant downturn in June. Total volume of shares traded fell 29.1pc to 77.4 million, down from 109.1m in May. Similarly, the total value of shares exchanged declined 24.7pc to BD18.2m from BD24.2m the prior month. Al Salam Bank–Bahrain dominated trading volumes, with 51.8m shares exchanged, while also leading in value traded at BD11.1m. Esterad Investment and Beyon also saw substantial activity. In broader economic news, the World Bank projects Bahrain's economy to expand 3.5pc in 2025 and 3pc in 2026. This anticipated growth is underpinned by a gradual increase in oil production as output cuts are rolled back, though global oil prices could soften amid weaker demand. On the trade front, Bahrain's non-oil imports rose 20pc to BD575m in April 2025, compared with BD481m in the same month last year. Non-oil exports of national origin also increased, up 22pc to BD338m in April 2025 from BD277m a year earlier. The country's trade deficit widened to BD166m in April 2025, from BD126m in April 2024. Zooming out, GCC stock markets staged a strong recovery in the latter half of June, driving the MSCI GCC index up 3.1pc for the month after an initial two-month low. The broad-based gains saw nearly all markets rise, with Kuwait leading the pack with a 4.2pc increase, closely followed by Dubai at 4.1pc. Abu Dhabi and Qatar gained 2.8pc and 2.7pc respectively, while Saudi Arabia was up 1.6pc. Oman bucked the trend, declining 1.3pc. Sector-wise, only the energy index saw a marginal dip of 0.6pc, with all other sectors registering gains. Insurance was the top performer, surging 8.2pc, followed by consumer durables and apparel (6.7pc) and banks (4pc). The June rally pushed the GCC's first-half 2025 performance into positive territory, with a 1.5pc gain. Kuwait remained the region's leader year-to-date, up 14.8pc, driven by large-cap stocks with its Premier market index gaining 17.2pc. Dubai also showed double-digit growth of 10.6pc, while Abu Dhabi and Qatar gained 5.7pc and 1.7pc respectively. In contrast, Saudi Arabia registered the largest year-to-date decline in the GCC, down 7.2pc, followed by Bahrain and Oman with smaller dips of 2.1pc and 1.7pc. Large-cap sectors like telecom (up 13.7pc) and banks (up 9.9pc) led regional year-to-date performance, while utilities, F&B, and healthcare saw double-digit declines. Globally, the European Stoxx 600 benchmark declined 1.3pc, while US and emerging markets indices posted mid-single digit gains. Crude oil prices traded below $70 a barrel as war risk premiums receded, and gold remained largely flat. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
15-04-2025
- Business
- Zawya
Bahrain's GFH Financial Group and Ithmaar Holding terminate acquisition plans
Bahrain-based GFH Financial Group has terminated discussions for the acquisition of Ithmaar Holding's financing and investment portfolios following preliminary due diligence discussions. GFH said requirements for the execution of the acquisition have not been met. Discussions have been ongoing since last year. (Writing by Imogen Lillywhite; editing by Seban Scaria)
Zawya
14-04-2025
- Business
- Zawya
Bahrain's Ithmaar seeks capital injection from major shareholder
Bahrain's Ithmaar Holding is working with a major shareholder to secure a capital injection. The entity, which is listed in Dubai and Bahrain, announced it was selling its financing and investment portfolios to Bahrain's GFH Financial Group last year, but the acquisition is yet to complete. Ithmaar has two major shareholders according to LSEG data, Dar Al Maal Islamic Holding Co and Islamic Investment Company of Gulf Bahamas Co Ltd. The company reported a profit of AED 123.75 million ($33.6 million) for 2024 with assets of AED 25.1 billion, up from AED 49 million on assets of AED 22.4 billion in 2023. (Writing by Imogen Lillywhite; editing by Daniel Luiz)
