Kuwait-Mubasher: Al Imtiaz Investment Group posted a 34.3% decline in profits of the first quarter as compared to the corresponding period in 2015, the company said in a bourse statement.
The earnings reached KWD 2.7 million ($8.95 million) in Q1-16, compared to KWD 4.11 million ($13.63 million) in Q1-15.
Al Imtiaz clarified that the decrease in Q1 profits resulted from a shrink in net investment profits due to high gain from exiting available-for-sale investments in 2015 as compared to 2016.
The company’s stock ended Sunday’s session at 70 fils, after about 842,330 shares were traded with a value of nearly KWD 59,000.
