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Kuwait Bahrain Exchange profit declines 22.9% in six months

Kuwait Bahrain Exchange profit declines 22.9% in six months
EXCH
EXCH
20.00% 86.40 14.40
Kuwait Bahrain Exchange disclosed its interim financial statements for the six months period ended June 30, 2014.

The statements reflected net profit of KWD389.1 thousands for the six months period of 2014 in comparison to KWD504.4 thousands for the same period of previous year, down by 22.9%. Meanwhile, the company achieved KWD221.9 thousands net profit against KWD246.4 thousands for the same period of preceding year, with decline by 9.9%.

The excess increase of the company's expenses due to its strategic expansion operations was the main reason behind profit decline at the six months period, said a bourse filling.