Mubasher: Mashaer Holding Co. reported a 443.4% year-on-year surge in profits during the first quarter of 2019.
The company’s profits amounted to KWD 238,420 ($786,480) during Q1-19, up from KWD 43,880 ($144,750) in Q1-18, according to a filing to Boursa Kuwait on Sunday.
The firm ascribed the growth in Q1-19 profits to realising a KWD 40,180 earning from investments in associates, in addition to settling KWD 211,890 provision.
In 2018, Mashaer’s losses decreased by 42% to KWD 4.09 million, compared to KWD 7.08 million a year ago.
