Manama, Bahrain - November 8th, 2009: Bahrain-based Securities & Investment Company (SICO) announced today a net profit of BD1.6 million for the third quarter of this year compared to 2008’s third quarter loss of BD 1.2 million.   For the past nine months the firm generated a net profit of BD 2.5 million compared to BD 4.6 million for the equivalent period in 2008. The Firm reported total assets of BD 80.7 million for the period ended September 30, 2009, declining from BD 108.7 million at year-end 2008. Liabilities also declined to BD 26.8 million from BD 58.9 million at year-end 2008.

The firm’s CEO, Anthony Mallis commented that: "The quarter’s results were pleasing with all units contributing to the improving results. The firm had only one loss making month in January during the nine months under review; this loss occurred during the peak of the global financial crisis.  While GCC and international equity markets have regained partially their composure and the future outlook has improved, there is still a great amount of uncertainty in the system. We are concerned that regional, and international, markets may be over-reaching themselves; a great number of economic and banking challenges still remain on the horizon and which seem not to be factored in".

The full press release in English & Arabic can be downloaded here .

The Financial Results can be downloaded here .