Mubasher: First Investment on Tuesday announced turning a profit in the fourth quarter of 2017, against suffering losses in the year-ago period.
The firm’s profits amounted to KWD 265,340 ($885,830) in Q4-17, against suffering KWD 17,140 ($57,220) in losses during the same quarter a year earlier, according to a statement to Boursa Kuwait.
For the full year of 2017, the Kuwait-based company’s profits levelled up 7.1% to KWD 750,250, compared to KWD 700,460 in the year before.
The Kuwaiti investment company attributed the growth in its annual profits to an increase in associate firms’ financial results, as well as higher leasing revenues.
On Monday, First Investment’s board of directors recommended distributing no dividends for 2017.
