The financial statements of the Kuwait Financial Center Company showed the company's transformation to profitability in the first half of this year compared to losses in the same period of 2020.
According to the company's results for the Kuwaiti Stock Exchange, today, Wednesday, profits for the period amounted to 10.411 million dinars, compared to losses in the first half of 2020 of 10.050 million dinars.
The company said in a statement to the stock exchange that the improvement in results during the comparative periods is mainly due to an increase in the fair value of financial assets at fair value through profits and losses.
The company's total operating income in the first half of this year amounted to about 19.06 million dinars, compared to (-1.71) million dinars in the same period last year.
The company achieved profits of 6.36 million dinars in the second quarter of this year, a significant increase of 222% over its counterpart in the comparable quarter of 2020, amounting to approximately 1.97 million dinars.
The company turned profitable in the first quarter of this year, at a value of 4.056 million dinars, compared to losses of about 12.021 million dinars for the same period in 2020.
