Mubasher: Amwal International Investment Company reported a 68% year-on-year surge in profits in the first quarter of 2019.

Amwal International’s profits reached KWD 293,110 ($966,430) during Q1-19, up from KWD 174,410 ($575,060) in Q1-18, according to a filing to Boursa Kuwait on Tuesday.

The firm attributed the rise in Q1-19 profits to growth in unrealised gains from financial assets worth KWD 192,730.

In 2018, Amwal International turned profitable after generating KWD 607,620, against KWD 16,350 in losses a year ago.