Kuwait-Mubasher: Inovest, listed on Kuwait and Bahrain’s bourses, turned profitable in the second quarter of 2016, according to a bourse statement.
The company achieved profits of KWD 660,090 ($2.18 million) in Q2-16, against losses of KWD 286,250 ($947,060) in Q2-15.
In H1-16, Inovest generated profits of 1,630 versus losses of KWD 584,540 incurred in the prior-year period.
Positive profits resulted from exiting a sister company and real estate investments, in addition to growing revenues from constructions contracts.
