Kuwait – Mubasher: Energy House Holding reported turning to profits in the first quarter of 2016 with KWD 956,600 ($3.17 million) against losses worth KWD 1.03 million ($3.41 million) in the same period in 2015.
The Kuwait-listed firm attributed its achievement to profits from sister companies worth KWD 237,700, as well as a decline in losses from inflation by KWD 130,900.
The energy firm previously reported widening its losses in FY15 by 349.4% to KWD 7.91 million, up from KWD 1.76 million in 2014.
