Mubasher: Kuwait Projects Holding (KIPCO) reported a decline of 37.4% in profits during the second quarter of 2017 compared to the same period in the previous year.
Earnings declined to KWD 9.08 million ($29.97 million) in Q2-17 from KWD 14.51 million ($47.89 million) in Q2-16, according to a bourse filing issued on Thursday.
During the first half of 2017, KIPCO’s profits shrank by 49.5% to KWD 14.15 million from KWD 28.01 million in H1-16.
In Q1-17, the company’s profits decreased by 62.4% to KWD 5.07 million from KWD 13.5 million in Q1-16.
At the stock level, KIPCO closed Thursday’s session 1.33% lower at 370 fils.
