Kuwait – Mubasher: First Investment on Wednesday reported turning a profit in the third quarter of 2016.

The company posted KWD 502,050 ($1.65 million) in profits in Q3-16, against KWD 372,590 ($1.22 million) in the year-ago period, according to a filing to the Kuwait Stock Exchange (KSE).

The Kuwaiti company's profits retreated 50.2% in the first nine months of the year to KWD 717,600 from KWD 1.44 million in the corresponding period of 2015.

The profit fall was due to lower results from a sister company as well as a decline in profits from currency exchange, First Investment stated.

The investment company's stock reached 44 fils mid-trade on Wednesday after 129,000 shares were exchanged at a turnover of KWD 5,700 on KSE.