Mubasher: Gulf Investment House (GIH) reported a positive turn in the income statements of the second quarter this year compared to losses incurred in Q2-17.

GIH achieved profits of nearly KWD 21,210 ($70,160) in Q2-18 versus losses of around KWD 154,200 ($510,080) in Q2-17, according to a bourse statement on Tuesday.

During the first half of 2018, GIH recorded profits valued at nearly KWD 199,710 against losses of KWD 1.03 million in H1-17.

The positive turn in H1 profits is attributed to a decline in the value of investments available for sale, in addition to murabaha costs.