Mubasher: Al Imtiaz Investment Group reported a drop of 52.6% in profits during the first quarter of 2018 compared to the same quarter in the previous year.

Earnings shrank to KWD 5.85 million ($19.51 million) in Q1-18 from KWD 12.35 million ($41.19 million) in Q1-17, according to a bourse statement on Tuesday.

It is noteworthy that the Kuwaiti company posted a surge of 125% in profits to KWD 30.85 million in fiscal year 2017 compared to KWD 13.73 million in FY16.

At the stock level, Al Imtiaz closed Tuesday’s session at 128 fils.