By: Mohamed Farouk

Mubasher: The financial statements of Noor Financial Investment showed a 12% year-on-year decline in profit during the third quarter of 2019.

The profits fell to KWD 1.69 million ($5.58 million) in Q3-19 when compared to KWD 1.92 million ($6.34 million) a year earlier, according to a bourse filing on Monday.

During the period from January to September 2019, Noor Financial registered profit worth KWD 5.83 million, 31.9% year-on-year lower than KWD 8.56 million.

The firm ascribed the decrease in profits to a partial exclusion of an investment affiliated to a sister company.

It is worth noting that during the second half of 2019, the company logged 37.7% lower profits at KWD 4.14 million from KWD 6.64 million in H1-18.