Kuwait – Mubasher: Kuwait National Cinema reported a growth of 21.9% in profits during the third quarter this year as compared to the same period of 2015.

Earnings amounted to KWD 2.56 million ($8.45 million) in Q3-16 as compared to KWD 2.1 million ($6.93 million) in Q3-15, according to a bourse statement issued Monday.

During the nine months of 2016, profits decreased 7.4% to KWD 7.49 million as compared to KWD 8.09 million in the corresponding period a year ago.

The decline in the nine-month-period profits resulted from lower operating revenues by 8% as well as an 18% drop in profits of an associate, the company clarified.

Kuwait National Cinema’s stock ended Tuesday up 1.06% to 950 fils after 346 shares were exchanged at a value of nearly KWD 328,700.