Aan Digital turns profitable in Q3

Aan Digital turns profitable in Q3

Mubasher:Aan Digital Services Co, listed on the Dubai Financial Market (DFM) and Boursa Kuwait, generated profits of KWD 895,610 ($2.96 million) during the third quarter (Q3) of 2019, against losses of about KWD 637,380 ($2.1 million) during Q3-18.

Over the first nine months of 2019, losses totalled KWD 274,160, down by 10.3% from nearly KWD 305,490 a year ago, according to a bourse statement on Sunday.

Total operating revenues plunged by over 50% at KWD 31.18 million in the nine-month period, from KWD 63.04 million in the same period in 2018.

The drop in revenues is primarily attributed to lower sales of recharge products in Saudi Arabia, the company noted.

As for the first half (H1) of 2019, the firm logged profits of KWD 1.17 million, against about KWD 331,900 of losses in H1-18.

Source: Mubasher

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