Kuwait - Mubasher: Alrai Media Group posted a drop of 66.7% in profits during the first quarter of 2017 compared to the same period in 2016.
Earnings declined to about KWD 449,760 ($1.47 million) in Q1-16 from KWD 1.35 million ($4.41 million) in Q1-16, according to a bourse statement issued on Sunday.
The net operating profit shrank by 64.9% to approximately KWD 495,540 in Q1-17 from KWD 1.41 million in Q1-16.
At the stock level, Alrai Media closed Sunday’s session 5.68% lower at 166 fils, after around 47,700 shares were traded at a value of nearly KWD 8,000.
