APICORP records net profit of $70.4 mln for H1 2019
03/09/2019
Argaam
Dammam-headquartered Arab Petroleum Investments Corporation (APICORP) on Monday announced its net profit for the first for the six months of this year reached $70.4 million, while gross operating income for the period stood at $184.1 million.
Compared to the same period last year, these results represent an improvement of 30 percent and 10 percent in the corporation’s recurring income, respectively, APICORP said in a statement.
The primary drivers for the increase in revenue were the company’s corporate finance and treasury business lines, which grew by 44 percent and 78 percent, respectively, the statement added.
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