Kuwait – Mubasher: National International Holding Co on Sunday said that its profits decreased by 66.2% in the second quarter of 2017, compared to the year-ago period.
Profits fell to KWD 828,500 ($2.7 million) in Q2-17, from KWD 2.5 million ($8.3 million) in Q2-16, according to a filing to Boursa Kuwait.
The company attributed the decline in the year-on-year profits to a drop in investments returns.
The profits tumbled 56% to reach KWD 1.2 million in the first six months of 2017, compared to KWD 2.7 million in H1-16.
