Kuwait-Mubasher: International Financial Advisors (IFA) has narrowed its losses by 86.6% in the fourth quarter of 2015 as compared to the same quarter of 2014, according to a bourse filing.
The company, which is listed on both KSE and DFM, posted losses worth KWD 3.53 million ($11.74 million) in Q4-15, compared to KWD 26.39 million ($87.78 million) in Q4-14.
During the fiscal year 2015, IFA reported KWD 6.73 million losses from KWD 34.06 million the previous year, a decrease of 80.2%.
The company noted that a profit worth KWD 6.76 million resulted from buying 90.98% stake in First Takaful Insurance.
During the trades in Kuwait Stock Exchange on Tuesday, IFA stock retreated 1.96% to 25 fils, but was inactive in Dubai exchange.
