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National Shooting Q2 financials turn to losses

National Shooting Q2 financials turn to losses
National Shooting registered an increase of 41% in H1 operating profit
SHOOTING
SHOOTING
-2.01% 39.00 -0.80

Mubasher: National Shooting Co incurred a loss of nearly KWD 22,430 ($73,900) during the second quarter of 2019, versus a profit of nearly KWD 99,150 ($326,800) in the corresponding three months last year.

During the first half ended 30 June 2019, National Shooting suffered a loss of approximately KWD 44,350 against profits valued at about KWD 7,550 in the same six months a year ago, according to a bourse disclosure on Sunday.

Despite the decline in direct costs as well as general and administrative expenses, the tun to losses is attributed to a decrease in dividends’ distribution.

National Shooting registered an increase of 41% in operating profit to around KWD 99,540 in H1-19 from nearly KWD 70,590 in H1-18.