Kuwait-Mubasher: National Investments Co (NIC) registered a decline of 44.8% in profits for the first quarter as compared to the corresponding quarter in 2015, the company said in a statement.
The quarterly earnings decreased to KWD 1.11 million ($3.68 million), down from KWD 2.01 million ($6.67 million) in Q1-15.
NIC clarified that the drop in Q1 profits resulted from lower revenues.
On KSE today, the investment house retreated 1.72% to 114 fils, after about 427,400 shares were traded with a value of around KWD 48,600.
