Thursday, August 19, 2010

Gulf Finance House - 1H10 Losses of US$47.7 Million


Asa Fitch over at The National has an article on the subject.  Funny how GFH was able to get the news out to The National and other media outlets but unable to get the announcement on the three regional exchanges it's registered on.  Or on its website for that matter.

Once they publish their financial report, I'll comment in more detail.  For now, I'd just note that with other firms who have announced dramatic improvements in their 1H10 over 1H09 results that once you've written the assets down to realizable value there are no further write downs and income "improves".  Real improvement comes of course when your firm generates sustainable revenues and cashflow.

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