Mubasher TV
Contact Us Advertising   العربية

Palms Agro Production Q3 profits fall 12%

Palms Agro Production Q3 profits fall 12%
Net profit for the first nine months of 2016 declined 27.9% (Photo credit: Arabianeye - Reuters)
PAPCO
PAPCO
2.86% 180.00 5.00

Kuwait – Mubasher: Palms Agro Production reported on Sunday a net profit of KWD 94,030 ($309,400) for the third quarter of fiscal 2016, 11.7% down from KWD 106,450 ($350,300) for Q3-15.

Net profit for the first nine months of 2016 declined 27.9% to KWD 427,480 from KWD 592,790 for the same period of 2015, according to a bourse filing.

The company earlier posted a net profit of KWD 333,460 for the first half of 2016, 31.4% down from KWD 486,340 for H1-15.