Kuwait-Mubasher: Kuwait Food – Americana posted a 12.3% decrease in profits of the first quarter as compared to the same period in 2015, the company said in a statement issued Thursday.
Americana’s earnings shrank to KWD 15.19 million ($50.32 million) in Q1-15 as compared to KWD 17.32 million ($57.37 million) in Q1-15.
The decline in Q1 profits resulted from an increase in operating costs as well as losses from foreign currencies exchange, the company clarified.
Americana stock rose 1.68% to KWD 2.42 by the end of Thursday’s session, after 19 shares were traded with a value of KWD 46.
