Kuwait – Mubasher: Al Aman Investment posted a plunge of 85.6% in profits during the second quarter of 2016 compared with the same period in 2015.
Earnings declined to about KWD 271,610 ($896,400) in Q2-16 from KWD 1.88 million ($6.21 million) in Q2-15, according to a recent bourse statement.
During the first half of 2016, profits reached nearly KWD 5,730 from KWD 1.99 million in H1-15; down by 99.7% year-on-year.
The decrease in profits was due to losses from investments available for sale by KWD 288,000 as well as a drop in net profits reported from investments by KWD 2.3 million.
