INOVEST reports first quarter results
TDT | Manama
Email: mail@newsofbahrain.com
INOVEST announced its financial results for the first three months of 2025, showing a consolidated net loss attributable to the parent shareholders of US$ 1.263 million in comparison to a net profit attributable to the parent shareholders of US$ US$ 116 thousand for the same quarter of last year.
Accordingly, the Basic Earnings Per Share for the first quarter of 2025 decreased to a loss of US cents 0.42 as compared to an Earning Per Share of US cents 0.04 for the same period in 2024. The change is primarily due to the loss from the remaining construction contracts with one of the subsidiaries.
The net operating income stood at a loss of US$ 1.530 m in the first quarter of this year in comparison to an income of US$ 365 thousand for the first quarter of 2024. The consolidated operating income decreased by 75% to reach US$ 652 thousand in comparison to US$ 2.637 m whilst the Group’s operating expenses decreased slightly, standing at US 2.182 m in the first quarter of 2025 in comparison to US$ 2.272 m for the same period of 2024.
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