Kuwait – Mubasher: Kuwait Financial Centre (Markaz) achieved profits during the third quarter of 2016 against losses in the same period a year ago.

Earnings reached about KWD 571,000 ($1.9 million) in Q3-16 versus losses of around KWD 1.34 million ($4.4 million) in Q3-15, the company said according to a bourse filing on Thursday.

During the first nine months of 2016, profits reached KWD 1.38 million as compared to KWD 2.39 million; a decline of 42% year-on-year. 

The drop in earnings is attributed to lower profits from selling an investment available for sale as well as exiting real estate investments during the period ended 30 September, 2016.

Markaz stock ended Thursday’s trading session lower by 4.72% to reach 79 fls.