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GIC posts $91 million profit

Gulf Investment Corporation revenues increased to $153 million in 2009.

March 27, 2010 5:36 by

Gulf Investment Corporation (GIC) says its net income surged to $91 million in 2009, representing a return of shareholder equity of 6.3 percent.

The firm’s revenues increased to $153 million. Shareholders’ equity rose to $1.75 billion at the end of 2009, an increase of $1.1 billion compared to the previous year.

GIC was established under the auspices of the Gulf Cooperation Council and is equally owned by the six member states of the council.


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