Kuwait – Mubasher: Arzan Financial Group for Financing and Investment turned profitable in the third quarter of 2016, according to a bourse statement.
Profits reached KWD 622,090 ($2.04 million) in Q3-16, against losses of KWD 666,990 ($2.19 million) in Q3-15.
The company generated profits of KWD 1.99 million in the first nine months of 2016, up 35.4% from KWD 1.47 million in the same period of 2015.
The profit rise is mainly attributed to an increase in investment income.
Trading will resume on Arzan’s stock on 21 November after the announcement of third-quarter financials.
