Mubasher: Kuwait Finance and Investment (KFIC) on Sunday reported a 35% year-on-year rise in profits for the first nine months of 2017.
Net profit amounted to KWD 299,483 in the nine-month period ended September 2017, versus KWD 222,303 in the prior-year period, the firm said in a filing to Boursa Kuwait.
Similarly, earnings per share (EPS) surged 35% to 1.0 fils from 0.7 fils.
The company attributed the rise in net profits to the increase in rent income from investment properties and the recovery of provision for credit losses in the interim period this year.
Total operating revenue increased 10% to KWD 4.015 million in the nine-month period from KWD 3.64 million in the same period last year.
Likewise, net operating profit hiked 94% to KWD 1.4 million from KWD 730,016.
Meanwhile, total expenditure incurred from dealing with related parties stood at KWD 827,883 in the nine-month period of 2017.
