Mubasher: Credit Rating and Collection (Tahssilat) has incurred losses of nearly KWD 269,840 ($893,810) in the third quarter of 2017.
The Q3 losses were 342.22% higher than around KWD 61,020 ($202,120) in the same period a year ago, according to a bourse statement issued on Sunday.
During the nine-month period, Tahssilat has achieved a profit worth nearly KWD 830,200 this year against a loss of approximately KWD 291,200 in the same period in 2016.
The positive turn in the nine-month financials is attributed to higher gains from selling Tahssilat’s right in a settlement deal with Adeem Investment and Wealth Management for GBP 5.07 million, with an ownership share of 8.25 million from the shares of Frontguard Holding Company in return for KWD 1.17 million.
It is worth highlighting that Tahssilat has achieved a profit of KWD 1.1 million in the first six months of 2017 versus losses of nearly KWD 230,160 in the same half a year ago.
