Kuwait – Mubasher: Securities Group posted a decline of 34.5% in profits during the second quarter of 2016 as compared to the same period a year ago.
Net profit decreased to about KWD 675,130 ($2.22 million) in Q2-16 from KWD 1.03 million ($3.39 million) in Q2-15, the company said in a bourse statement issued on Monday.
During the six-month period ended 30 September, 2016, net earnings shrank by 49.8% to KWD 1.24 million from KWD 2.47 million in the corresponding period a year ago.
The decrease in profits resulted from lower operating revenue, the company clarified.
