Kuwait – Mubasher: Wethaq Takaful Insurance turned profitable in the third quarter of 2016, according to a bourse statement.

The company posted profits of KWD 152,800 ($504,570) in Q3-16, against losses of KWD 961,640 ($3.18 million) in Q3-15.

In the first nine months of 2016, Wethaq generated profits of KWD 675,450 against losses KWD 280,100 in the prior-year period.

The company’s stock stabilised at 26.5 Kuwaiti fils, with a turnover of KWD 5,410 generated from the exchange of 207,500 shares.