Kuwait – Mubasher: Kuwait Finance and Investment (KFIC) reported a decline of 38.2% y-o-y in net profits for the third quarter of 2016.
KFIC posted net profits of KWD 106,850 ($350,160) for Q3 – 2016, down from KWD 172,910 ($566,640) a year earlier.
As for the first nine months of 2016, the company registered net profits of KWD 222,300 down by 69% from KWD 716,620 for the same period of the previous year.
Moreover, the company’s operating revenues went up 5.5% during the nine – month period ended September 2016 to reach KWD 3.64 million compared with KWD 3.45 million for the similar period of the preceding year.
