Kuwait – Mubasher: National Investments Co registered a drop of 63.6% in profits of the second quarter this year as compared to the same period of 2015.
Earnings shrank to about KWD 651,560 ($2.16 million) in Q2-16, compared to KWD 1.79 million ($5.93 million) in Q2-15, according to a bourse filing issued Sunday.
During the first half this year, earnings reached KWD 1.77 million versus KWD 3.8 million in the corresponding period in 2015; a decrease of 53.4%.
The company clarified that the decline in profits resulted from lower other revenues and provisions for investments of H1-16.
National Investments stock ended Sunday’s session falling 1.9% to 104 fils, after about 352,900 shares were traded at a value of around 36,700.
