Mubasher: Livestock Transport and Trading suffered a loss of nearly KWD 342,900 ($1.13 million) during the second quarter of 2018 against earnings worth KWD 650,000 ($2.15 million) in Q2-17.
During the first half of 2018, profits shrank by 99.7% to KWD 7,000 compared to KWD 2.1 million in the same half of 2017, according to a bourse disclosure on Monday.
The decline in H1 profits is attributed to highest shipping costs due to reducing the number of livestock on board as a result of the new Australian conditions.
It is noteworthy that during the first quarter of 2018, Livestock posted a drop of 75.9% in profits to about KWD 349,900 compared to KWD 1.45 million in Q1-17.
