Inovest Records US$331,000 Net Profit in Q1 2026, Marking 126% Year-on-Year Improvement

Inovest announced its financial results for the first quarter of 2026, reporting a consolidated net profit attributable to the shareholders of the parent company of US$331,000, compared with a net loss of US$1.263 million for the same period last year.

The result marks an improvement of US$1.594 million, representing a positive movement of approximately 126% when measured against the loss recorded in the corresponding period of 2025.

Basic earnings per share for the first quarter of 2026 increased to 0.11 US cents, compared with a loss of 0.42 US cents per share in the first quarter of 2025. The improved performance reflects the Group’s continued emphasis on operational and investment activities, its exit from non-core segments, and disciplined control over expenditure.

Inovest recorded a net operating profit of US$473,000 in the first quarter of this year, compared with an operating loss of US$1.530 million in the first quarter of 2025. Consolidated operating income rose by 206% to US$1.992 million, compared with US$652,000 for the same period last year, while the Group’s operating expenses declined by 30% to US$1.519 million, compared with US$2.182 million in the first quarter of 2025.

In terms of the Group’s key balance sheet indicators, net equity attributable to the shareholders of the parent company stood at US$118.198 million, compared with US$117.500 million at the end of 2025. Inovest also recorded a marginal increase in total consolidated assets, which reached US$215.649 million, compared with US$215.002 million at the end of 2025.

Commenting on the results, Mr. Yaqoub Bander, Chairman of Inovest, said: “The financial results for the first quarter of 2026 represent a significant step forward for Inovest, as the Group returned to profitability and achieved a clear improvement in its operating performance. The net profit attributable to shareholders, supported by operating income growth of more than 200%, reflects the effectiveness of the Company’s strategy to restructure its investment portfolio and direct greater attention towards income-generating activities.”

Mr. Talal AlMulla, Chief Executive Officer of Inovest, stated: “This positive performance is the result of our efforts to improve operational efficiency, pursue well-considered exits from non-core assets, and maintain disciplined control over operating expenses, which declined by 30% during the first quarter. These measures have supported the Group’s financial position and created a stronger platform for sustainable growth in line with shareholders’ expectations.”

Mr. AlMulla added: “Inovest will continue to move forward with confidence as it seeks to strengthen its position in the Sharia-compliant investment sector, supported by a stable balance sheet and the flexibility to respond to changing market conditions. Our priority remains to sustain performance improvement, enhance returns, and create long-term value.”