Kuwait-Mubasher: Mezzan Holding’s net profits decreased 4.8% to KWD 5.2 million ($17.26 million) during the first quarter of 2016 as compared to the same period in 2015, according to a statement.

Revenues gained 5.3% to stand at KWD 55.7 million ($185.17 million) in Q1-16, the Kuwaiti conglomerate said.

“Our consumer staple portfolio, which generates more than 70% of our revenue, demonstrated its resilience in these challenging market conditions, while our new business accelerated the growth of the company’s distribution and market share,” said Mezzan’s CEO Garry Walsh.

On KSE, Mezzan ended Tuesday’s session with a fall of 1.69% to KWD 1.16, as 5,000 shares were traded with a value of around KWD 5,800.