Manama, Kingdom of Bahrain, 13 November 2011: Bahrain-based Securities & Investment Company (SICO) announced today its financial results for the third quarter of 2011 and the first nine months of the year.
Operating income for the third quarter was BD 93 thousand compared with BD 1.71 million for the corresponding period in 2010, while net earnings were negative BD 863 thousand (2010: positive BD 743 thousand), with basic earnings per share of negative 2.03 Bahraini fils (2010:positive 1.75 fils). For the first nine months, operating income was BD 2.8 million (2010: BD 5.2 million), with negative net earnings of BD 364 thousand (2010: positive BD 2.3 million) and basic earnings per share of negative 0.85 Bahraini fils (2010: positive 5.36 fils). As at 30 September 2011, total balance sheet footings increased to BD 96.9 million from BD 81.2 million at the end of 2010. At the end of the third quarter of 2011, Assets under Management remained healthy at BD 181.152 million, while Assets under Custody with SICO’s wholly-owned subsidiary SICO Funds Services Company were BD 913.200 million.