US $ 4.29M FROM INOVEST IN THE FIRST HALF OF

Inovest, a net profit of $ 4.29 million, posted a profit of 1.52 cents per share in the first half of this year, compared with a net profit of $ 10.16 million, a profit of 3.4 cents in the first half of 2018, a decrease of 58%.
Net operating income decreased by 65% ​​to $ 3.4 million from $ 9.82 million for the first half of 2018. This decrease is due to higher operating expenses and lower operating costs. net revenues from the group's subcontracting activities, a natural reflection of the success of the activities. On a major government construction contract, and the registered profit of one of the holidays taken at the same time last year.
"Despite the economic challenges surrounding the region in general and the difficulties faced for investment activities in particular, Inovest has continued to generate profitability in the first quarter of 2019, since the first quarter of 2016," Omar said. Al Mutawa, chairman of the board of directors.
He added that the group's results for the first half of the current year are a positive indicator of the group's engagement in the process identified and adopted in the latest work plan.
Ybader Al Jar, Chairman and Chief Executive Officer, commented on the results: "The pursuit of INOVEST, the main financial indicator of profitability, solvency and liquidity, is a clear indication of its determination to achieve the objectives that it has achieved. she's fixed.