Mubasher: Kuwait Financial Centre (Markaz) posted a decline of 51.7% in profits during the second quarter of 2017 compared to the same quarter a year ago.

Earnings shrank to KWD 720,000 ($3.38 million) in Q2-17 from KWD 1.49 million ($4.92 million) in Q2-16, according to a bourse filing issued on Sunday.

During the first six months of 2017, Markaz recorded a surge of 260.7% in profits to KWD 2.92 million from about KWD 809,440 in the same half of 2016.

It is noteworthy that the Kuwaiti company’s financial statements in Q1-17 turned profitable to KWD 2.2 million against a loss of KWD 683,000 in Q1-16.