News Column

GFH expects school purchase to increase profits

May 18, 2014

Staff Report

Dubai: Gulf Finance House, an investment company listed on the Dubai Financial Market, expects its second-quarter returns to be boosted by the acquisition of a private school by its subsidiary GFH Capital.

The firm said the Dubai-based school, which teaches children up to K-12, serves a growing base with capacity for up to 1,900 pupils. It said the school was worth $34 million (Dh125 million). GFH did not name the school. GFH compliance director Nabeel Mirza told the DFM the firm expected the acquisition to have positive returns, which would be reflected in its second-quarter results.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Gulf News (United Arab Emirates)