Mubasher: Aan Digital Services Co, dually listed on the Dubai Financial Market (DFM) and Boursa Kuwait, reported  KWD 265,211 ($845,740) net profits attributable to the owners of the parent company in 2019, versus net losses of KWD 829,075 ($2.64 million).

The company has turned profitable in 2019 following the rise in gross margin and a decrease in expenses, according to the company's disclosure to Boursa Kuwait on Tuesday.

The company's total operating revenues reached KWD 45.859 million in 2019, down from KWD 72.120 million during the earlier year.

The basic and diluted basic earnings per share (EPS) stood at KWD 0.310 last year, against losses per share of KWD 0.960 in 2018.

During the fourth quarter of 2019, the net losses surged by 229% to KWD 630,401 in 2019, compared to KWD 191,691 during the year-ago period.

Noteworthy to mention, during the third quarter of 2019, the company generated profits of KWD 895,610, compared to losses of about KWD 637,380 during the Q3-18.