Mubasher: Gulf North Africa Holding Company (GNAHC) on Monday stated that its profits surged 120% in the third quarter of 2017, compared to the year-ago period.

Profits amounted to KWD 188,910 ($625,120) in Q3-17, compared to KWD 85,880 ($284,180) in Q3-16, according to a statement to Boursa Kuwait.

At the level of the first nine months of 2017, profits went up 69.3% to reach KWD 179,030, compared to KWD 105,770 in the same period in the year before.

The firm attributed the rise in its year-on-year profits to the growth in the profits of selling investments.