Mubasher: Mubarrad Transport reported a growth of 23.8% in profits during the third quarter of 2016 as compared to the same period a year ago.

Earnings amounted to about KWD 322,900 ($1.1 million) in Q3-16 as compared to about KWD 260,800 in Q3-15, the company said in a bourse statement issued Tuesday.

During the nine-month period, profits shrank 71.93% to about KWD 913,700 from KWD 3.25 million in the same period of 2015.

From January to September, Mubarrad’s operating revenues fell 14.2% to KWD 2.13 million from KWD 2.5 million in the nine months of 2015.