Kuwait – Mubasher: Future Communications Global said its profits for the second quarter of 2016 declined by 90.6% y-o-y.

The Kuwaiti listed firm saw net profits of KWD 24,390 for the second quarter of 2016, down from KWD 258,830 for the similar period a year earlier.

As for the first half of 2016, the company reported net profits of KWD 214,880 down by 60.2% from KWD 540,470 for the same period of the previous year.

The company attributed its profit decline to the slowing down revenues as well as operating profits.