Bahrain-based GFH Financial Group (GFH) reported a net profit attributable to shareholders of $72.5 million for the first half of the year, representing a 16.7 percent increase from $62.1 million in the first half of 2017. The Group reported a consolidated net profit of $73.4 million for the first six months of 2018, an increase of 12.1 percent from $65.5 million for the prior-year period. Net profit attributable to shareholders for the second quarter of 2018 increased 19.2 percent to $36 million from $30.2 million for the comparable period in 2017. Consolidated net profit for the second quarter of 2018 was $36.5 million from $32 million in the prior-year period, an increase of 14.1 percent. Earnings per share for first half of the year ended June 30, 2018, was US cents 2.02 compared to US cents 2.51 in the first half of 2017. Earnings per share for the second quarter of 2018 was US cents 1.00 compared to US cents 1.22 during the comparable period in 2017. During the first half of 2018, the Group’s total consolidated revenues grew 12.5 percent to $124.2 million as compared to $110.4 million in the first half of 2017, primarily from revenues generated from its investment banking business. This includes income generated from investment placements for private equity and real estate transactions. Consolidated revenues for the second quarter of 2018 was $63.7 million compared to $60.8 million in the second quarter of 2017, an increase of 4.8 percent. Revenues for the quarter also included legal claims settlements in favor of the Group. GFH’s profit before impairment allowance for the first half of the year was $79.1 million as compared to $59 million in the first half of 2017, an increase of 34.1 percent. “We are pleased with the continued growth in profitably for the first half of 2018. This reflects the strength of the Group’s strategy and success, quarter after quarter, in delivering value and strong returns to shareholders,” said Chairman of GFH Financial Group Jassim al-Seddiqi. “Enhanced results and revenue generation for the period were supported by increased contributions from the Group’s investment banking business, where it continues to demonstrate a strong ability to identify and bring to the market unique investment opportunities,” Seddiqi added. “With the strong momentum achieved in the first half of the year and a strengthened focus on our investment and banking activities, we look forward to enhancing performance and results for the benefit of shareholders,” he stressed. CEO of GFH Hisham al-Rayes, for his part, said that the ongoing growth in the Group’s investment banking business continues to drive enhanced results and profitably in line with its strategy. “In particular, during the period, improvements in income generation came from a number of strategic deals including our landmark investment in the UAE-based ENTERTAINER and a notable trophy real estate asset in Chicago,” Rayes explained.