Kuwait-based Gulf Investment House (GIH) posted a 117 percent profit rise for 2003, with figures reaching $22.17 million.
For 2003, GIH reported revenues of $29.96 million, compared to $14.52 million earned in 2002, according to a press release. Total assets grew by 29 percent to $207.9 million and return on equity improved from 8.7 percent to 15.9 percent.
GIH is a private shareholding company with a subscribed and paid up capital of 30 million Kuwait dinars ($100 million). The company was founded in September 1998 to conduct business in accordance with the principles of Islamic Shari’a and deliver Islamic investment products and services to its customers in its chosen target markets. — (menareport.com)
© 2004 Mena Report (www.menareport.com )