GFH reports net profit of $115m for 2018

Hisham Alrayes, CEO of GFH, and Jassim Al-Siddiqi, chairman of GFH.
Updated 12 February 2019

GFH reports net profit of $115m for 2018

GFH Financial Group has announced continued growth in profitability and a strong performance for the financial year ending Dec. 31, 2018. For the year, the group reported consolidated net profit of $115 million as compared to $103.19 million in the previous year, an increase of 11.4 percent, and a net profit attributable to shareholders of $114.08 million compared to $104.18 for the previous year, an increase of 9.5 percent.

The net profit attributable to shareholders for the fourth quarter of 2018 was $10.64 million versus $16.95 million in the fourth quarter of 2017, a decrease of 37.2 percent. The consolidated net profit for the fourth quarter of 2018 was $10.39 million as opposed to $12.15 million in the fourth quarter of 2017, a decrease of 14.5 percent. 

Jassim Al-Siddiqi, chairman of GFH, said: “We are pleased with the continued growth in profitably and strong performance delivered by the group in 2018.

“Among the strongest measures of market confidence in GFH today and over the past year was the raising of more than $1 billion through our investment products and treasury and capital markets during 2018, which fuels further growth and investment for GFH in 2019.” 

Hisham Alrayes, CEO of GFH, said: “The year 2018 was another year of significant progress for GFH and we are proud of our performance and demonstrated ability to deliver sustained profitably and growth year after year.”


Tunisian pavilion at Souk Okaz depicts vibrant street life

Updated 17 August 2019

Tunisian pavilion at Souk Okaz depicts vibrant street life

Visitors to the Tunisian pavilion in the Arab Neighborhood at Souk Okaz can take a pleasant journey through its different sections, which creatively depict the daily pulse of life in the streets, landmarks and markets of Tunisia, welcoming people with a taste of its cuisine, its artworks and distinctive products. 

The Tunisian pavilion highlights the country’s architectural style, welcoming accents, fragrances and music. Visitors can look at and buy famous Tunisian carpets, derived from Berber heritage in various styles such as Margoum, Kilim, Zarbia and Bekhnouk. Visitors can also buy traditional footwear, made from a range of animal skins and embroidered with silk thread. 

The amber and perfume corner captures the eye and the nose, with delicate scents of musk, amber and aromatic oils, including radish oil, castor, ginger, black seed and flaxseed. Visitors can also see a range of carvings, including representations of the holy Kaaba, the Grand Mosque of Makkah, and Tunisian monuments and artworks. Visitors can also enjoy Tunisia’s popular cuisine, and experience its varied flavors, with dishes such as harissa, leblebi, fricassée and kafteji. 

The Arab Neighborhood is being hosted in Souk Okaz for the first time this year as part of Taif Season, which is running throughout August.

Taif Season, which started on Aug. 1, seeks to contribute to achieving the Kingdom’s Vision 2030 strategy, which aims to improve quality of life, raise living standards, and create career and investment opportunities.

Events throughout the month cover trade markets and tourist and historical monuments to enhance Taif’s historic and tourist status as a summer destination for Arabs and to promote the Kingdom as an international destination.