GIC posts $91 million profit
Gulf Investment Corporation revenues increased to $153 million in 2009.
March 27, 2010 5:36 by kippreport
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.