Kuwait – Mubasher: Al Madina for Finance and Investment reported a growth of 182.7% in profits during the first quarter of 2017, compared to the same period of 2016.

The earnings increased to KWD 1.3 million ($4.26 million) in Q1-17 from around KWD 459,810 ($1.51 million) in Q1-16, according to a bourse filing issued on Thursday.

Al Madina, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), registered a rise of 114.5% in operating profits to about KWD 911,200 in Q1-17 from approximately KWD 424,900 in Q1-16.

At the stock level, Al Madina on Thursday gained 3.33% to reach 46.5 fils by 10:50 am Kuwait time.