Kuwait-Mubasher: International Financial Advisors (IFA) reported a 94.3% drop in its second-quarter profits, according to a bourse statement.
Profits reached KWD 253,040 ($837,000) in Q2-16, compared to KWD 4.45 million ($14.72 million) in Q2-15.
IFA saw losses of KWD 4.16 million in H1-16, against profits of KWD 1.31 million in H1-15.
The company turned to losses in H1-16 due to incurring losses of KWD 1.52 million from the sale of shares in an associate, in addition to a rise in operating expenses and staff costs by KWD 1.84 million and KWD 252,460 respectively.
