Choppy trading drags Bahrain Bourse slightly lower

19/03/2012 19:56 AST

The Bahrain All Share Index closed off 0.46% at 1,148 Monday. Islamic financial institution Ithmaar was the top gainer (up 5.90%), while Ahli United Bank fell 2.90%. Earlier in the day, Kuwait's Global Investment Bank released a study on corporate profitability in the Kingdom of Bahrain, saying that "The companies listed on the Bahrain stock exchange witnessed a substantial jump in profitability in 2011. The aggregate net profit, based on 39 companies out of a total of 50 companies increased by 181.2% to BD928m. However, it is important to put this surge into perspective as 88% of the growth was contributed by the Investment sector. The investment sector posted a profit of BD228.5m in 2011 compared to a loss of BD299.4m in 2010. If we exclude Gulf Finance House profit and loss figures from the calculation, Bahrain's corporate profitability increased by 36.5% year-on-year in 2011."


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