Kuwait – Mubasher: Kuwait Finance House (KFH) recorded profits worth KWD 36.78 million ($121 million) in the second quarter of 2016, 13.3% higher from KWD 32.45 million ($106.7 million) posted in the same period in 2015.
During the first half of this year, earnings stood at KWD 70.88 million as compared to KWD 62.34 million in H1-15; a decline of 13.7% year-on-year, KFH said in a bourse statement.
The growth in profits resulted from a 4.4% increase in operating income, a 4% decrease in expenses, and a 16.3% rise in provision and impairment.
KFH’s stock fell by 1.12% to reach 440 fils by the end of Tuesday’s session, after 315,500 shares were traded at a value of nearly KWD 139,100.
