Mubasher: Kuwait and Middle East Financial Investment (KMEFIC) reported a positive turn in the financial statements of the second quarter of 2017 compared to the same period a year ago.
KMEFIC achieved a profit of nearly KWD 163,510 ($539,680) in Q2-17 against a loss of approximately KWD 730,370 ($2.41 million) in Q2-16, according to a bourse filing issued on Thursday.
During the first half of 2017, the company’s losses decreased by 69.2% to about KWD 406,200 in the first half of 2016.
It is noteworthy that the Kuwaiti company achieved a decline of 3.4% in losses to about KWD 569,710 in the first quarter of 2017 from nearly KWD 589,630 in Q1-16.
At the stock level, KMEFIC closed Thursday’s session 2.78% lower at 28 fils.
