Net Income attributable to Al Baraka Group’s shareholders reaches US$ 85mln in the first half of 2022

Net Income attributable to Al Baraka Group’s shareholders reaches US$ 85mln in the first half of 2022

Manama: Al Baraka Group BSC (ABG), Bahrain Bourse trading code "BARKA" announced today a net income attributable to shareholders of the parent company of US$ 45 million in the second quarter of 2022, compared to US$ 20 million in the second quarter of 2021 (restated), marking an increase of 126%.

The basic and diluted earnings per share for the second quarter of 2022 was US$ 2.42 Cents compared to US$ 0.35 Cents in the second quarter of 2021 (restated).

The Group’s total net income increased by 128% to US$ 74 million in the second quarter of 2022 compared to US$ 33 million in the same period in 2021 (restated).

The net operating income increased by 110% to US$ 227 million in the second quarter of 2022, compared to US$ 108 million in the same period last year (restated). The increase in net operating income was largely broad-based with contributions from investment and financing income.

Total equity increased by 1% to reach US$ 2.03 billion by end of June 2022, compared to US$ 2 billion by end of December 2021 (restated) due to an increase in non-controlling interest.

It is to note that, during the quarter ended 30 June 2022, the Group re-assessed, in terms of