Mubasher: National Industries Group Holding achieved a profit of KWD 2.09 million ($6.91 million) in the second quarter of 2017 against a loss of KWD 4.75 million ($15.7 million) in the same period a year ago.
The company, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), reported a profit of KWD 5.23 million during the first half of 2017 versus a loss of KWD 4.36 million in the first half of 2016, according to a bourse statement issued on Thursday.
The positive turn in National Industries’ financials was due to higher revenue from investments and lower provision in investments available for sale.
In the first quarter this year, National Industries posted a leap of 713.5% in profits to KWD 3.14 million from KWD 386,000 in Q1-16.
At the stock level, National Industries closed Thursday’s session 0.74% higher at 137 fils at Boursa Kuwait, after 1.52 million shares were exchanged.
