Kuwait – Mubasher: Kuwait Financial Centre (Markaz) reported a decline of 39% in profits over the second quarter of 2016 as compared to the same period of 2015.
Earnings shrank to KWD 1.49 million ($4.9 million) in Q2-16 versus KWD 2.43 million ($8.04 million) in Q2-15. The company said in a bourse statement.
The fall in profits was due to lower earnings from investments at the fair value through income statements and profits from investments available for sale, the company clarified.
During the first half of 2016, Markaz registered KWD 810,000 profits, 78% down from KWD 3.74 million in the same half of 2015.
