Kuwait – Mubasher: Inovest has achieved profits during the third quarter of 2016 against losses registered in the same quarter a year ago.
The company, which is listed on both BHB and KSE, reported profits worth $3.8 million in Q3-16 versus losses of about $194,150 in Q3-15, according to a bourse statement to KSE.
During the first nine months of 2016, Inovest recorded $9.19 million profits against losses worth $2.59 million in the same period of 2015.
The positive performance in Q3-16 financials was attributed to exiting an associate and selling a number of real estate investments, as well as the increase in revenue from contracting deals.
Inovest stock started KSE’s session up with 3.23% to 64 fils after about 27,900 shares were traded at a value of nearly KWD 1,800.
