Kuwait-Mubasher: Tamdeen Investment achieved a growth of 13.2% in profits of the first quarter in 2016 as compared to the same period in 2015, according to a bourse statement issued Thursday.
Earnings increased to KWD 8.21 million ($27.19 million) in Q1-16, compared to KWD 7.25 million ($24.01 million) in Q1-15.
The company clarified that the growth in Q1 profits resulted from a rise in available-for-sale investments worth KWD 1.51 million.
