Kuwait – Mubasher: Al Mowasat Healthcare on Wednesday reported a 40.2% increase in net profits in the first quarter of 2017, compared to the same quarter in 2016.

Net profit reached KWD 1.92 million ($6.29 million) in Q1-17, compared to KWD 1.37 million ($4.49 million) in the year-ago period.

The company attributed the rise in its profits to increased operating revenues, as well as profits from the sale of available-for-sale investments, according to a bourse statement.

Al Mowasat had previously reported a 35.3% growth in net profits, reaching KWD 4.52 million in 2016, compared to KWD 3.34 million during the year 2015.