Mubasher: Asiya Capital Investments Company reported a 38% annual increase in net profits during the fiscal year (FY) ended on 31 December 2019 at KWD 1.5 million (about $4.81 million) from KWD 1.09 million (around $3.51 million).

The growth in the annual profits was backed by the upward trend in equity and capital markets, according to a bourse disclosure on Wednesday.

In the fourth quarter (Q4), Asiya Capital turned to a profit of KWD 1.4 million, against a loss of KWD 39,210 in the same period in 2018.

It is worth noting that in the first nine months of the year, the company's profits dropped by 94.8% year-on-year (YoY) to KWD 1.13 million.