Mubasher: Arzan Financial Group for Financing and Investment achieved an increase of 122.5% in profits during the third quarter of 2018 compared to the same period in the prior year.

Earnings grew to KWD 1.88 million ($6.2 million) in Q3-18 from KWD 845,000 ($2.8 million) in Q3-17, according to a bourse disclosure on Thursday.

During the nine-month period in 2018, Arzan posted a growth of 4.1% to KWD 2.53 million compared to KWD 2.43 million in the corresponding period last year.

The increase in profits is attributed to a change in the fair value of investments in addition to a higher dividends income.