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Seef Properties has announced a 0.16 per cent rise in gross income to BD6,132,877 for the six months ended June 30, compared to the same quarter in 2009.
The net profit for the quarter under review was BD3.3 million, as a result of which, earnings per share stood at 7.1 fils, compared to 8.7pc for the second quarter last year. There was also a marginal decrease of 0.29pc in total assets, which stood at BD108,607,507, compared to BD108,927,350 in the second quarter of 2009.
During the busy quarter, the company achieved several milestones, including the official opening of Fraser Suites Seef Bahrain in March.
Also, a the major expansion of the Isa Town Mall is under way, as reported in GulfWeekly.
Chairman Shaikh Abdulla bin Khalifa Al Khalifa said: "It is heartening to note the growth in gross income, marginal though it may be, considering the current state of real estate market as a result of the global downturn."
Seef Properties also announced that Fawaz Matar will be appointed as an advisor to its board and Robert Addison as the company's general manager.
Mr Addision said: "It is a great honour to lead such a strong team that has the potential to build upon its successes and pioneer new achievements in the future."
