Kuwait – Mubasher: Gulf Investment House (GIH) suffered a loss of about KWD 875,770 ($2.87 million) during the first quarter of 2017, against a profit of nearly KWD 13,540 ($44.37 million) in the same quarter a year ago.
The negative turn in Q1 financials is attributed to a decline in GIH’s share of profits in an associate company, as well as higher Murabaha expenses, according to a bourse filing issued on Tuesday.
