Kuwait – Mubasher: Alargan International Real Estate’s profits for the third quarter of fiscal 2016 declined by 10.8% to KWD 294,500 ($972,500), compared to KWD 330,060 ($1.09 million) for Q3-15.

Net profit for the first nine months of 2016 fell by 95.2% to KWD 1.16 million from KWD 24.35 million for the same period of 2015, according to a bourse filing.

The company earlier reported a net profit of KWD 89,870 for Q2-16, 99.6% down from KWD 23.44 million for Q2-15.

The stock ended today’s trading with a rise of 5.3% to 160 fils.