GFH gets regulatory nod to acquire treasury shares

Dubai: Gulf Finance House said on Monday it has received a regulatory approval for acquisition of treasury shares.

As per the approval, the GFH can execute the acquisition anytime before 90 days. The GFH will consider purchasing of treasury shares depending on market conditions.

The group said on August 13, that its net profit for the second quarter to June fell nearly 40 per cent as last years results included one off income.

Net profit for the second quarter to June fell to $7.6 million (Dh27.9 million) from $12.4 million in the year ago period.