Mubasher: Arzan Financial Group for Financing and Investment achieved a rise of 35.9% in profits during the third quarter of 2017 compared to the same period a year ago.
The Boursa Kuwait-listed company achieved KWD 845,000 ($2.8 million) profits in Q3-17 compared to KWD 622,000 ($2.06 million) in Q3-16, according to a bourse statement issued on Sunday.
During the first nine months of 2017, Arzan posted KWD 2.43 million profits, 22.1% higher than KWD 1.99 million in the same period last year.
The increase in profits is attributed to higher gain from selling investments at fair value (FV).
It is noteworthy that Arzan achieved a rise of 15.3% in profits to KWD 1.58 million in the first half of 2017 compared to KWD 1.37 million in H1-16.
