Kuwait – Mubasher: Noor Financial Investment posted a 34.8% decline in profits during the second quarter of 2016 as compared to the same period a year ago.
Earnings reached about KWD 671,710 ($2.23 million) in Q2-16 versus KWD 1.03 million ($3.41 million) in Q2-15, according to a bourse statement.
During the first half this year, profits plunged to around KWD 56,560 when compared to KWD 2.04 million in the same half of 2015; a plunge of 97.2%.
The decrease in profits was due to unrealized losses in investments at the fair value, the company clarified.
