Kuwait – Mubasher: Noor Financial Investment said, in a bourse filing that its net profit for the first half of 2015 slumped by 47.2% to KWD 2.04 million ($6.72 million), down from KWD 3.86 million ($12.52 million) in the prior-year period.
The investment firm attributed the fall in half-year profits to a decline in unrealised results from investments at fair value, in addition to a rise in expenses of available-for-sale investments and a fall in earnings from real estate investments.
Meanwhile, the second quarter’s net profit jumped by 70.5% to KWD 1.03 million, compared with KWD 604,160 in the same period a year earlier.
