|08 November, 2019

Kuwait's Tamdeen Investment posts $1.35mln profit in Q3 2019

In the first nine months of 2019, Tamdeen Investment's profit grew by 35%

Traders monitor stock information at the Borsa Kuwait Stock Exchange, in Kuwait City, Kuwait November 9, 2016. Image used for illustrative purpose.

Traders monitor stock information at the Borsa Kuwait Stock Exchange, in Kuwait City, Kuwait November 9, 2016. Image used for illustrative purpose.

REUTERS/Stephanie McGehee

Kuwait -Tamdeen Investment has turned to profit in the third quarter of the fiscal year 2019.

The company reported a net profit of KWD 409,420 ($1.35 million) in Q3-19, according to a bourse statement released on Thursday.

In the first nine months of 2019, the Boursa Kuwait-listed company’s profit grew by 35% year-on-year to KWD 10.58 million.

It is worth mentioning that Tamdeen Investment posted a net profit of KWD 1.12 million ($3.69 million) in Q2-19, up 134.3% from the year before.

Source: Mubasher

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