Mubasher: Osoul Investment Company recorded a 74.4% year-on-year (YoY) increase in profits during the second quarter of 2019.

Osoul posted profits of about KWD 498,000 ($1.64 million) during Q2-19, compared to nearly KWD 285,560 ($941.64 million) in Q2-18, according to a statement to Boursa Kuwait on Thursday.

During the first half of 2019, the company’s profits surged by 184% to KWD 1.45 million from about KWD 510,560 in the same period a year ago.

Osoul said that the growth in H1-19 profits was attributed to three factors; profits from financial investments, income from investment in an associate, and revenue from portfolios’ management.

Noteworthy, during the first quarter of 2019, Osoul’s profits amounted to nearly KWD 950,000 when compared to approximately KWD 225,000 during Q1-18, a YoY surge of 322.2%.