Kuwait – Mubasher: National International Holding (NIH) on Sunday said its Q1-16 profits surged 399.3% year-on-year to KWD 272,600 ($902,020) from KWD 54,600 ($180,670) in the same period in 2015.
The company ascribed its profit growth to rising revenues from share distributions by KWD 337,300.
Last week, NIH’s shareholders approved the board of directors’ recommendation to not distribute dividends for 2015 as well as to list the company’s stocks on the Dubai Financial Market (DFM).
NIH’s stock stabilised at 61 fils after an hour of trading on KSE on Sunday, after 126,000 shares were exchanged at a turnover of KWD 7,700.
