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The Inovest Group announced its financial results for the first half of 2019. The group's consolidated financial results show a net profit of $ 4.29 million for its shareholders, compared to a net profit of $ 10.16 million for the first half of 2018, a decrease of 58%. The company's net earnings per share for the first half of the current fiscal year was 1.52 cents, compared to the parent company's net earnings per share of 3.59 cents for the same period of 2018.
Net operating income decreased 65% to $ 3.40 million compared to $ 9.82 million in the first half of 2018. This decrease is explained by the increase in operating income. operating expenses and the decrease in 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 recorded profit of one of the concessions made at the same time last year. Total consolidated operating income decreased 34% to $ 9.89 million from $ 14.90 million in the first half of 2018.
He said d. "In spite of the economic challenges surrounding the region in general and the difficulties encountered for investment activities in particular, Inovest has been able to maintain and maintain its profitability in the first quarter of 2019 since the first quarter of 2016," said Omar. Al Mutawa, president of INOVEST.
By commenting on the main financial indicators of profitability, solvency and liquidity, Inovest continued to demonstrate the group's determination to achieve its objectives.
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