Kuwait – Mubasher: Kuwait Investment suffered 88.3% decrease in losses during the third quarter this year as compared to the same period of 2015.
The company’s losses amounted to about KWD 73,140 ($240,170) in Q3-16 when compared to nearly KWD 622,200 ($2.04 million) in Q3-15, according to a bourse statement issued on Tuesday.
During the first nine months of 2016, the company achieved profits worth KWD 1.94 million which is 1.6% higher from KWD 1.91 million in the corresponding period a year ago.
The company clarified that the profit allocated for credit losses in financial assets available for sale shrank by 86.18% or KWD 4.14 million, while dividends decreased by 30.17% or KWD 665,000.
