Kuwait – Mubasher: Aayan Leasing and Investment Company’s profits grew 3,001.2% in the fourth quarter of 2016 compared to the same period in 2015.
Profits stood at KWD 2.16 million ($7.08 million) in Q4-16, compared to KWD 69,650 ($228,270) in Q4-15, according to the company’s financial statements.
The company’s profits amounted to KWD 3.79 million during 2016, compared to KWD 7.07 million in the year before, showing a drop of 46.4%, according to a statement to Boursa Kuwait.
The decline came after the parent company recorded a gain of KWD 3.5 million as assets were swapped with creditors.
The stock ended Thursday’s trading down 4.21% to 45.5 fils after trading 16.7 million shares at a value of KWD 768,900.
