Kuwait – Mubasher: Palms Agro Production registered a decline of 49.4% in profits of the second quarter this year as compared to the same period last year.

Earnings reached nearly KWD 189,600 ($627,150) in Q2-16 versus about KWD 374,920 ($1.24 million) in Q2-15.

During the first half of 2016, profits stood at about KWD 333,460 compared to approximately KWD 486,340 in H1-15; a drop of 31.4% year-on-year, according to a bourse statement.

The overall revenues reached KWD 1.64 million in Q2-16, 37.2% down from KWD 2.61 million in Q2-15.