Kuwait-Mubasher: Aayan Leasing and Investment posted a 78.2% decline in profits of the first quarter in 2016 as compared to the same period in 2015, the company said in a statement issued Sunday.
Net earnings reached about KWD 506,900 ($1.68 million) in Q1-16, compared to KWD 2.33 million ($7.71 million) in Q1-15.
Aayan clarified that the decrease in Q1 profits resulted from operating revenues which dropped 31% to KWD 8.8 million in Q1-16 from KWD 12.75 million in Q1-15.
