Mubasher: Gulf Investment House (GIH) achieved a profit of nearly KWD 639,650 ($2.11 million) in the third quarter of 2018 against losses of KWD 48,000 ($158,160) in the same period last year.
From January to September 2018, GIH recorded profits valued at nearly KWD 839,360 versus a loss of KWD 1.08 million in the first nine months of 2017, according to a bourse statement on Sunday.
The positive turn in 9M profits is attributed to a decrease in the value of investments available for sale as well as a decline in murabaha costs.
