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Al Imtiaz Investment H1 profit plunges 62%

Al Imtiaz Investment H1 profit plunges 62%
Al Imtiaz Investment stock closed Thursday’s session at 180 fils
ALIMTIAZ
ALIMTIAZ
-2.67% 47.30 -1.30

Mubasher: Al Imtiaz Investment Group reported a decline of 67.7% in profits during the second quarter of 2018 compared to the same period in the previous year.

Earnings decreased to KWD 6.45 million ($21.32 million) in Q2-18 from KWD 19.97 million ($66.02 million) in Q2-17, according to a bourse statement on Thursday.

During the first half of 2018, Al Imtiaz Investment posted a drop of 61.9% in profits to KWD 12.3 million, compared to KWD 32.32 million in the same half of 2017.

The decline in H1 profits is attributed to lower income from selling a share in an associate compared to the same half last year.

At the stock level, Al Imtiaz Investment closed Thursday’s session at 180 fils.