Mubasher: International Financial Advisors (IFA) on Sunday announced profits worth KWD 2.036 million ($6.72 million) during the third quarter ended 30 September 2019, against losses of KWD 9.269 million ($30.59 million) in the same period a year earlier.

During the period from January to September of the year, the losses were significantly narrowed by 62.8% to KWD 4.213 million from KWD 11.322 million in the same period in 2018, a bourse statement revealed.

The positive results were backed by lower loss from a subsidiary by KWD 7.09 million, higher other revenues by nearly KWD 467,050 as well as a decline in finance costs by about KWD 687,470.

It is worthy to note that during the first six months in 2019, the company suffered 204% higher losses at KWD 6.25 million than KWD 2.05 million in H1-18. 

IFA is a dual-listed company on the Dubai Financial Market (DFM) and Bourse Kuwait.