Mubasher: The income statements of Mezzan Holding registered a plunge of 58.1% in profits during the second quarter of 2017 compared to the same period a year ago.

Earnings shrank to KWD 2.02 million ($6.68 million) in Q2-17 from KWD 4.82 million ($15.93 million) in Q2-16, according to a statement issued on Sunday.

During the first six months of 2017, profits decreased by 26.7% to KWD 7.34 million compared to KWD 10.01 million in the same half a year ago.

Mezzan reported a slight decline of 0.6% in revenues to KWD 107.8 million in H1-17, while its revenues stood at KWD 50.3 million in Q2-17.

“This is our ninth quarter of consecutive profitability since our listing on Boursa Kuwait and despite the challenging dynamic of our region,” executive vice chairman at Mezzan Holding Mohammed Al Wazzan said.

At the stock level, Mezzan closed Wednesday’s session 0.33% higher at 915 fils.