Mubasher: Kuwait National Cinema posted a decline of 27.5% in profits during the first quarter of 2019 compared to the same period a year ago.

Profits decreased to KWD 1.87 million ($6.16 million) in Q1-19 from KWD 2.58 million ($8.5 million) in Q1-18, according to a bourse disclosure on Wednesday.

The decline in Q1 profits is attributed to a 29% shrink in gross profits, a 90% plunge in net income from financial investment, and an increase of 53% in financing interest.

During fiscal year 2018, Kuwait National Cinema reported a decline of 18% in profits to KWD 8.34 million from KWD 10.17 million in full-year 2017.