VOL. XLII

No. 19

10-May-1999

BAHRAIN

Apicorp Records 6.2% Increase In Operating Income In 1998

Following the General Assemblys endorsement of the 1998financial results in Cairo on 21 April, the Arab Petroleum InvestmentsCorporation (Apicorp) announced a net profit in 1998 of $12mn down from theprevious years $44.7mn after an increased provisions cost of $39.6mn.Despite the fall in profits, total operating income grew by 6.2% in 1998 to$66mn and a $15mn dividend was recommended. Total project...