Mubasher: Unicap Investment and Finance recorded a jump of 497% in profits during the second quarter of 2018 compared to the same period last year.

Earnings increased to KWD 2.8 million ($9.25 million) in Q2-18 from KWD 469,000 ($1.55 million) in Q2-17, according to a bourse statement on Monday.

During the first six months of 2018, Unicap posted a growth of 192.3% in profits to KWD 3.04 million from KWD 1.04 million in the same half a year ago.

Unicap clarified that the increase in H1 profits is attributed to selling an equity of an associate in a subsidiary.

At the stock level, Unicap closed Monday’s session 5% lower at 57 fils.