Kuwait-Mubasher: Commercial Facilities reported a 58% plunge in its profits for the first quarter of 2015, reaching KWD 1.6 million ($5.3 million) from KWD 3.8 million ($12.6 million) in Q1-14.

Earnings per share declined to 3 fils in Q1-15 from 7 fils in Q1-14, according to a filing to the Kuwait Stock Exchange.

Net operating income fell 30% to KWD 1.77 million in Q1-15, compared to KWD 2.53 million during the same quarter of 2014.

The Kuwait-listed company posted profits of KWD 10.9 million in 2014, compared to KWD 12.87 million in 2013.