Kuwait – Mubasher: Kuwait Company for Process Plant Construction and Contracting (KCPC) posted a decline of 22.03% in profits during the first quarter of 2017, compared to the same period in the previous year.

Earnings declined to about KWD 294,680 ($966,010) in Q1-17 from around KWD 377,960 ($1.24 million) in Q1-16, according to a bourse statement issued on Tuesday.

KCPC’s net operating profit increased by 16.2% to approximately KWD 437,700 in Q1-17 from nearly KWD 376,600 in Q1-16.

At the stock level, KCPC closed Tuesday’s session 2.44% lower at 168 fils.