Ithmaar Holding announces 2022 results

Ithmaar Holding announces 2022 results

MANAMA, BAHRAIN – Ithmaar Holding B.S.C. (Trading symbol Bahrain Bourse and Dubai Financial Markets: ITHMR), a Bahrain-based holding company, announced its 2022 financial results for the year ended 31 December 2022.

The announcement, by Ithmaar Holding Chairman His Royal Highness Prince Amr Al Faisal, follows the review and approval of the Board of Directors of the Company’s consolidated financial results.

Ithmaar Holding reported a net loss attributable to equity holders for the three-month period ended 31 December 2022 of US$39.69 million compared to the net profit of US$37.13 million reported for the same period in 2021. Earnings Per Share (EPS) for the three-month period ended 31 December 2022 were negative US Cents 1.36, compared to US Cents 1.28 for the same period in 2021. Total net loss for the three-month period ended 31 December 2022 was US$36.09 million compared to the net profit of US$44.59 million reported for the same period in 2021. This is mainly due to prudent impairment provisions as well as higher taxation charges from the group’ subsidiary in Pakistan.

Net loss attributable to equity holders for the year ended 31 December 2022 was US$38.39 million compared to the net profit of US$38.60 million reported for 2021. EPS for the