Kuwait – Mubasher: Al Madina for Finance and Investment Company posted on Wednesday a net profit of KWD 460,000 ($1.52 million) for the first quarter of fiscal 2016, against net losses of KWD 2.07 million ($6.85 million) in Q1-15.

The shift to profitability was attributed the profits gained from investments in associates amounting KWD 47,450, and income from settlements of KWD 149,850, according to a bourse filing.

The stock stood today at 39 fils as 1.2 million shares were exchanged at KWD 46,000.