Mubasher: Asiya Capital Investments Co reported a decline of 87.2% in losses during the fourth quarter of 2017 compared to the same period in the prior year.
Losses shrank to about KWD 591,950 ($1.98 million) in Q4-17 from KWD 4.61 million ($15.42 million) in Q4-16, according to a bourse statement on Tuesday.
During fiscal year 2017, Asiya Capital achieved a profit of nearly KWD 202,340 against losses worth KWD 9.24 million in FY16.
The positive turn in FY17 financials is attributed to a rise in the stock market.
It is worth noting that Asiya Capital recorded profits worth about KWD 794,290 in the first nine months of 2017 versus losses of KWD 4.63 million in the same period in 2016.
