Mubasher: Aayan Leasing and Investment achieved a growth of 146.4% in profits during the third quarter of 2017 compared to the same period in the previous year.
Earnings increased to KWD 2.23 million ($7.39 million) in Q3-17 from about KWD 905,080 ($3 million) in Q3-16, according to a bourse statement issued on Tuesday.
During the first nine months of 2017, Aayan Leasing reported a surge of 323.3% in profits to KWD 6.9 million compared to KWD 1.63 million in the corresponding period in the prior year.
The rise in profits is attributed to a deal, signed on 12 March, between the mother company and Mubarrad Transport as a party and another entity to sell their stakes in Inshaa Holding.
Noteworthy, the company’s earnings increased by 544.2% to KWD 4.67 million in the first six months of 2017 compared to around KWD 724,920 in the same half in 2016.
At the stock level, Ayaan Leasing closed Tuesday’s session 1.13% higher at 44.9 fils.
