Mubasher: Aviation Lease and Finance (Alafco) achieved a growth of 49.6% in profits during the first quarter ended on 31 December 2017 compared to the same period a year ago.
Earnings increased to KWD 7.78 million ($26 million) in Q1 ended on 31 December 2017 from KWD 5.2 million ($17.4 million) in the same period in the prior year, according to a bourse filing on Monday.
The growth in profits is attributed to buying 11 airplanes in 2017, in addition to KWD 1.6 million profit from selling an aircraft, Alafco noted.
At the stock level, Alafco closed Monday’s session at 373 fils.
