Mubasher: The Securities House reported a decline of 92% in profits during the third quarter of 2017 compared to the same period last year.
Earnings shrank to nearly KWD 46,140 ($152,760) in Q3-17 from around KWD 578,230 ($1.91 million) in Q3-16, according to a bourse statement issued on Monday.
During the nine-month period, the company registered a loss of approximately KWD 571,070 against a profit of nearly KWD 454,660 in the same period a year ago.
Securities House noted that the negative turn in income statements of the first nine months is attributed to lower profits from selling investments in an associate by nearly KWD 955,000.
It is worth noting that Securities House incurred a loss of about KWD 617,210 in the first half of 2017 compared to nearly KWD 123,570 in the same period in the prior year; a year-on-year increase of 399.5%.
