ALIMTIAZ
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.