Mubasher: Unicap Investment and Finance posted a net profit of KWD 1.5 million on the back of a dispute settlement with a client, according to a bourse statement.
The settlement followed Unicap’s agreement with the client, allowing the company to manage a property in Sharq in return for dropping debt claim against the client.
Unicap said that the impact of the reversals of provisions will be reflected on the fourth-quarter earnings report.
In the first nine months of 2019, Unicap swung into losses, which amounted to KWD 1.34 million, compared with a profit of KWD 3.47 million a year ago.
