Mubasher: Kuwait Finance and Investment (KFIC) has posted a 471.1% year-on-year profit hike during the third quarter of the fiscal year 2019.

The company’s profit surged to KWD 92,580 ($305,420) in Q3-19, compared to KWD 16,210 ($53,480) in the year-ago period, according to a bourse statement released on Wednesday.

In the first nine months of 2019, KFIC’s net profit grew to KWD 292,640, against KWD 200,220 a year earlier.

It is worth mentioning that the Boursa Kuwait-listed company’s profit increased by 8.7% YoY to KWD 200,070 in the first half of 2019.