| Mumtalakat, the investment arm of Bahrain, announced a gross profit of $487.2m (BHD183.2) for the year ending 31 December, 2015. The figure is 1.1% higher than 2014 profits of $481.6m (BHD181.m).
However, the company's net profit reduced by 68.7% to $76.3m (BHD28.7m) in 2015, against 2014's $243.6m (BHD91.6m). Mumtalakat said the reduction in net profit was due to "impairment losses recognised on goodwill", but did not elaborate on this. The holding company's operating income increased to $330.9m (BHD14.4m) on the back of an improved performance by national carrier, Gulf Air. Consolidated revenues for 2015 were $3.1bn (BHD1.2bn)...............................................Full Article: Source
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