Mubasher: Coast Investment and Development achieved profits worth about KWD 958,400 ($3.14 million) during the fourth quarter of 2016 against losses of KWD 7.76 million ($25.44 million) in the same period a year ago.

During the fiscal year, the company recorded profits of KWD 2.07 million versus losses of KWD 8.74 million in the previous fiscal year, according to a bourse statement issued on Tuesday.