Mubasher TV
Contact Us Advertising   العربية

Al Imtiaz Q2 profits jump on selling stake in Human Soft

Al Imtiaz Q2 profits jump on selling stake in Human Soft
Al Imtiaz clarified that the growth in profits is attributed to selling 41% stake in Human Soft
ALIMTIAZ
ALIMTIAZ
-2.67% 47.30 -1.30

Mubasher: Al Imtiaz Investment Group recorded a leap of 1,041% in profits during the second quarter of 2017 compared to the same period a year ago.

The company’s earnings surged to KWD 19.97 million ($65.81 million) in Q2-17 from KWD 1.75 million ($5.77 million) in Q2-16, according to a bourse statement issued on Tuesday.

During the first six months this year, the company’s profits soared 626.3% to KWD 32.32 million from KWD 4.45 million in the corresponding period in 2016.

Al Imtiaz clarified that the growth in profits is attributed to selling 41% stake in Human Soft, generating a gain of KWD 4.32 million.

At the stock level, Al Imtiaz closed Tuesday’s session 1.19% higher at 170 fils, after 6.45 million shares were traded at a value of KWD 1.09 million.