Kuwait – Mubasher: The financial statements of National Investments Co reported a drop of 42% in losses during the third quarter of 2016 as compared to the same period in the prior year.
Losses shrank to about KWD 730,340 ($2.41 million) in Q3-16 from KWD 1.26 million ($4.16 million) in Q3-15, according to a bourse statement issued Wednesday.
During the first nine months of 2016, the company achieved profits worth KWD 1.04 million, 59.1% lower from KWD 2.54 million in the same period a year ago.
The fall in profits resulted from lower revenue and provisions.
On the stock level, National Investments started Wednesday’s session down 3.7% to 104 fils after 2.5 million shares were exchanged at a value of about KWD 257,250.
