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Commercial Facilities 9M profits down 34% on provisions

Commercial Facilities 9M profits down 34% on provisions
Photo Credit: Arabianeye-Reuters
FACIL
FACIL
-0.47% 214.00 -1.00

Kuwait-Mubasher: Commercial Facilities posted a drop of 34% to KWD 1.72 million ($5.6 million) in earnings for the third quarter of 2015, on back of higher provisions, compared to KWD 2.62 million ($8.6 million) in the same period of 2014.

In the nine-month period, the Kuwaiti company’s profits fell to KWD 6 million from KWD 9.19 million in 9M-14, a decline of 34%.