DUBAI Nov 11 Bahrain-based investment firm Gulf
Finance House (GFH) said on Sunday its third-quarter
net profit nearly halved from a year earlier.
The sharia-compliant investment house, heavily impacted by
the global debt crisis, said in a statement that its
third-quarter net profit dropped to $1.8 million from $3.4
million a year earlier.
Profit for the first nine months of 2012 rose to $7.5
million, up from $4.1 million a year ago.
GFH did not provide reasons for the lower quarterly figures
but attributed the increase in year-to-date profit to a 26
percent reduction in expenses.
In September, GFH said its unit had signed an exclusive deal
to lead the takeover of British football club Leeds United.
(Reporting By Mirna Sleiman; Editing by Dinesh Nair)