Ismar Holding, which is also listed on the Bahrain Stock Exchange, turned to a net loss attributable to shareholders worth $4.48 million in the first nine months of 2023 (9 million).
The financial results showed a negative result on net income of $1.3 million for the September 2022 period.
Net income for January-September 2023 reached $187.87 million, down from $215.14 million in the same period last year (YoY).
Basic and diluted loss per share as of September 30 was $0.15, compared with earnings per share (EPS) of $0.04 in the same period last year.
Total assets decreased from $6.05 billion as of December 31, 2022 to $5.58 billion in 9M-23.
Financials for Q3 2023
In the third quarter of 2023 (Q3), the company had a surplus of $2.02 million, compared to a net loss of $7.77 million in the same period last year.
Total revenue increased from $171.76 million in the third quarter of 2022 to $194.84 million in the third quarter of 2023.
Basic earnings and diluted earnings per share for the July-September 2023 period were $0.07, and loss per share for the July-September 2022 period was $0.27.
cumulative loss
Accumulated losses totaled $833.24 million as of September 30, 2023, equivalent to 110% of equity.
For the three months ended March 31, 2023, Ismar Holding incurred a net loss attributable to shareholders of $3 million, compared to a net income of $1.13 million for the first quarter of 2022.
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