Mubasher: Sokouk Holding Company achieved a profit of KWD 1.75 million ($5.79 million) in the third quarter of 2017 against losses worth KWD 492,000 ($1.63 million) in the same quarter last year.
During the first nine months of 2017, the company reported a gain of around KWD 440,220 versus a loss of KWD 2.26 million in the same period a year ago, according to a bourse statement issued on Sunday.
The positive turn in profits is attributed to higher earnings from the company’s share in investments by associates.
It is worth noting that Sokouk registered a decline of 26% in losses to KWD 1.31 million during the first six months of 2017 compared to KWD 1.77 million in H1-16.
At the stock level, Sokouk closed Sunday’s session 3.36% lower at 51.7 fils.
