Kuwait-Mubasher: Arzan Financial Group for Financing and Investment reported a decline in profits for the first quarter to about KWD 631,800 ($2.09 million), according to a bourse statement.
The Q1 earnings decreased 59.2% from KWD 1.55 million ($5.13 million) in Q1-15.
Arzan clarified that Q1 profits were knocked down by lower revenues of the company’s finance activity.
Arzan stock rose by 1.54% to 33 fils, an hour before closing Thursday’s session, after 1.56 million shares were at about KWD 50,820.
