Kuwait – Mubasher: Boubyan Petrochemical posted a 75% year-on-year decline in its profits during the second quarter ended 31 October 2016, according to a bourse filing.
Profits reached KWD 476,580 ($1.56 million) in Q2-16, compared to KWD 6.25 million ($6.25 million) in Q2-15.
In the six-month period ended 31 October 2016, profits declined to KWD 895,720 from KWD 5.73 million in the same period of 2015.
The profit decline is mainly attributed to a decrease in profits generated from selling available-for-sale financial assets and one of its associates.
