Kuwait Mubasher: Kuwait Resorts (Muntazahat) on Monday reported a profit decline by 8.86% in the third quarter of 2016, compared to the same period of the previous year.
Profits reached about KWD 660,330 ($2.2 million), versus profits of KWD 724,555 ($2.4 million) in the year-ago-period, according to the company’s statement on the Kuwait Stock Exchange (KSE).
Profits for the nine-month period ended 30 September 2016 dropped 24.38% year-on-year to KWD 1.9 million, from KWD 2.524 million.
The company attributed its profit fall to higher profits from investments and lower financing costs as well as general and administration expenses.
