Kuwait – Mubasher: Nafais Holding Company posted a drop of 27% in net profit of the first nine months of 2015, compared to the same period last year, according to a bourse filing Sunday.
The nine-month profit slipped to KWD 4.77 million ($15.68 million), down from KWD 6.53 million ($21.46 million) in the same period last year.
The company ascribed the profit decline to a decrease in book value of an investment in a subsidiary.
The company earlier reported a profit of KWD 5.8 million in H1-15, compared to KWD 5.3 million in the same period last year.
