Mubasher: Jiyad Holding Co achieved profits worth KWD 1.75 million ($5.64 million) in the fiscal year (FY) ended in December 2019, down by 1% when compared to KWD 1.77 million ($5.71 million) in 2018.

The increase in the annual profit was backed by a higher share of results from associates and a rise in operating revenues, according to a stock exchange statement on Wednesday.

In the fourth quarter (Q4), the profit soared by 47% to reach KWD 1.09 million from KWD 746,844 in the corresponding period in 2018.

It is noteworthy that in the first nine months of 2019, Jiyad’s profit reached KWD 657,790, 36% lower than from the same period in the year before.