Kuwait-Mubasher: International Financial Advisors (IFA) achieved profits in the fourth quarter of 2015 versus losses in the same period in 2014, according to a bourse statement.
The company’s earnings reached KWD 4.42 million ($14.6 million) in Q$-15, against losses worth KWD 26.39 million ($87 million) in Q4-14.
The company clarified that the positive turn in Q4 financials resulted from selling a subsidiary for KWD 13.8 million, as well as the profit from investments that increase by KWD 6.43 million.
During the fiscal year 2015, IFA achieved KWD 1.21 million net profits, against KWD 34.06 million in the previous fiscal year.
