Kuwait – Mubasher: Safwan Trading and Contracting posted an 18.8% decline in profits during the second quarter of 2016 as compared to the same period of 2015.
Earnings shrank to around KWD 433,040 ($1.43 million) in Q2-16 from nearly KWD 533,310 ($1.77 million) in Q2-15, according to a bourse statement.
Over the first six months of the year, profits retreated by 4.4% to KWD 1.08 million from KWD 1.13 million in H1-15.
The drop in earnings decreased due to lower gross and operating profit, the statement added.
